About the Accelerator Programme
The Growth Accelerator Malawi facility, is a 12-months business acceleration programme for youthful high-impact post-revenue businesses looking to grow and scale.
The programme supports entrepreneurs with technical assistance, mentorship and up to USD40,000 in co-financing, each.
The accelerator has supported 62 entrepreneurs to grow their businesses since 2019. These entrepreneurs have gone on to create about 350 permanent jobs and support value chains of 6,000 people.
Currently, in cohort 6, some 16 ventures are implementing various growth projects.
Up to USD40,000 in co-financing
Growth Accelerator supports entrepreneurs with up to USD40,000 of business financing i.e. entrepreneurs may request any amount between $10,000 – $40,000. The funds requested are unlocked by entrepreneurs matching the requested amount from the accelerator with 30% of their own funds or from an investment partner.
The total budget for implementing business growth plans in 12 months is comprised of a 70% contribution by the accelerator and a 30% contribution by the entrepreneur or their chosen investment partner.
6 months of Mentorship
The accelerator has a network of local and international business people, industry experts and professionals that work with entrepreneurs for 6 months. The mentors act as a sounding board for growth plans and help entrepreneurs navigate various business challenges.
6 months of Technical assistance
The accelerator programme runs a series of audit and analysis workshops that help entrepreneurs understand their business structure, their operating environment and how to manage their growth. The workshops also feature talks from industry experts and business professionals.
Who can apply?
1. Must be registered as a for-profit enterprise in Malawi with a business license readily available for verification.
2. Should have a verified product or service on the market for not less than a year
3. Should be operational for not less than two years
4. Demonstrate sound financial practices such as basic bookkeeping
5. Demonstrate that the business has been generating monthly revenues for at least the past 1 year
6. Has the founders or at least one of the founders' full time involvement in the business
7. Be a youthful entrepreneur aged up to maximum of 45 years old
8. Should NOT have gone through a previous round of the Growth Accelerator
Growth Accelerator Malawi is implemented by Landell Mills International in partnership with Imani Consultants. The programme is managed and supported by UNDP Malawi. Cohorts one to four were supported by the Royal Norwegian Embassy. The programme’s fifth, sixth and the just launched seventh and eighth cohorts, are being supported by KfW German Development Bank and the Royal Norwegian Embassy, respectively. The programme also partners with investment partners that support entrepreneurs with business financing. The programme is currently in working partnership with National Bank of Malawi, NBS Bank and Standard Bank.