The Anglo American Foundation (AAF) has partnered with Grindstone, an accelerator renowned for engineering high-growth entrepreneurship, to launch a South African accelerator supporting and empowering entrepreneurs in the green sector.
The partnership aims to identify and nurture 15 tech and tech-enabled startups by providing them with a unique opportunity to raise funds and gain market access. The collaboration will foster sustainable practices and promote environmental stewardship, with a large focus on job creation for South Africa’s youth.
The 2023 Grindstone accelerator will run as a six-month programme designed specifically for post-seed to Series A green sector startups. Leveraging the ecosystem and strategic partners, Grindstone will recruit 15 high growth and innovation-driven green startups for this year’s accelerator.
The selected startups will receive dedicated funding readiness support, including a comprehensive gap assessment; workshops covering strategy and people, marketing and sales, and funding and valuation; and monthly in-depth coaching sessions. The winning company will also receive a cash incentive at the end of the programme. Additionally, startups will graduate with a lite data room and access to a network of potential funders.
“We are thrilled to collaborate with the Anglo American Foundation on this groundbreaking initiative. Over the past 24 months, we have seen a large increase in green economy startups applying to our programmes. We have also dramatically increased the percentage of youth and female-founded businesses, with an intentional strategy to balance our cohorts from a diversity perspective,” said Catherine Young, managing partner at Grindstone.
