Y Combinator’s entry into the African startup ecosystem in 2020 brought significant attention and investment opportunities, positioning itself as a game-changer in a developing market. However, its recent shift toward sectors like manufacturing, defense, and climate has reduced its focus on developing regions, creating a gap in Africa's startup acceleration space. Local accelerators, often spearheaded by YC alumni, are stepping up to fill this void, with notable examples including Accelerate Africa, founded by Iyinoluwa Aboyeji of Flutterwave fame. These homegrown initiatives aim to provide funding and support for early-stage startups under $1 million, mirroring the methods of global players like YC and Techstars. As foreign investors retreat, African accelerators are rethinking strategies to cultivate startups, with a vision of building a self-sustaining ecosystem and fostering regional innovation. Continue here.
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