A fast-growing investor, Platform Capital, is set to launch the Africa House Fund for entrepreneurs and innovators of African descent in the United States of America.
This development, the firm said, is “in partnership with Eshirya Africa (a 501c3 Exempt Non-profit, inspiring 1% of the African population as well as people of African descent everywhere to function unlimited in thought and action, embracing their socioeconomic and political destiny in Africa and across the world).”
To drive the initiative, the organisation said it set aside $1 million to black entrepreneurs and innovators across the USA, noting that African entrepreneurs can close the wealth gap through job creation, strengthen communities, and create economic opportunities for everyone.
Explaining its decision in a statement, the platform said, United States of America (USA) has the largest number of Unicorns globally and continues to be the foremost leader in innovation. African Americans and other minorities are increasingly building businesses with novel solutions for global problems.
“As Africans continue to innovate and position the continent as an increasingly attractive destination for investment, competition on the global stage, and technology-based solutions.”
The company said it is committed to “supporting an ecosystem that will empower entrepreneurs to bring their ambitious ideas to life and propel us toward the Africa we desire.”
This, it said, will be achieved by fostering partnerships, exchanging ideas, ensuring the transfer of knowledge, capital flow, and market access between the two continents.
“This is why we are excited to announce the launch of Africa House and the Africa House Fund for black entrepreneurs in the USA.
“Africa House is a 5- star member-only business club tailored to meet the needs of entrepreneurs and innovators worldwide with global access to offices, networks, mentorship, training, events, funding and resources for business success. Members have the pride of belonging to an exclusive group of individuals and companies interested in Africa.
“To drive this initiative, Platform Capital through the Africa House Fund, will award $1,000,000 in funding to 10 black entrepreneurs and innovators across the USA.
“The focus of this fund is to transform business ideas into world-class products and services through operational funding. Africa house and the Africa House Fund will be launched in Dallas, Texas, on June 15-16, 2021,” the statement said.
The Chairman of the business club, Akintoye Akindele, said: “To build the Africa we desire, we must collaborate, share ideas, innovate and build global partnerships and solutions that help solve our unique problems.
“A lot of progress has been made towards the growth of African American entrepreneurs in the USA and our goal at Platform Capital is to build a bridge between these entrepreneurs in the diaspora and the people in the continent. We look forward to working with Eshriya Africa, Unicorn Group and all our partners in making the launch a success.”
Similarly, the Founder of Eshriya Africa, Olakunle Soriyan, said: “We are excited to be part of this project. We believe that innovators and entrepreneurs are critical, they are the carriers of the promise of socio-economic transformation Africa indeed deserves.”
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