Accelerating Black Leadership and Entrepreneurship (ABLE) 2024
Accelerating Black Leadership and Entrepreneurship (ABLE) is a business accelerator programme designed to strengthen, energise and support startups and small businesses led by black entrepreneurs in the United States. ABLE identifies black business leaders with impact-oriented solutions at the local and national level, addressing essential community needs while stimulating sustainable growth. 38 black founders have graduated since the programme launched in 2021.
Who can apply? Black entrepreneurs leading start-ups and small businesses. The target audience is early-stage, revenue-generating for-profit companies (seed to Series A).
The fourth ABLE group will be made up of 15 to 20 entrepreneurs. Applications are welcome from all sectors, with a preference for those that are impact-orientated.
Deadline: Applications must be submitted by Friday 28 June 2024 at 11.59pm PST.
Important note: only share non-confidential information in your application.
For more information, please contact brett@africandiasporanetwork.org .
Find out more at https://africandiasporanetwork.org/able/ .
--
programme overview
Programme commitment 15 to 20 entrepreneurs will take part in a virtual enterprise and leadership training programme from September to October 2024, leading up to a live, face-to-face pitch session at Santa Clara University. The programme offers weekly training sessions (5 hours per week) and 3-4 hours of mentoring and network building.
Overview of benefits
* The selected entrepreneurs will receive a fully paid entrepreneurship and leadership training programme, complemented by mentoring and network-building forums.
* Participants in the programme will have a platform to present proposals in Silicon Valley to leading investors, venture capitalists and impact investors, among others.
*There is no cost to take part in the programme and companies do not have to give up any assets. Participants will receive a modest grant as a financial reward on completion of the programme.
Highlights
* Opportunity to participate in a face-to-face session for the Silicon Valley investor community
* Fully paid training in leadership and entrepreneurship
* Regular meetings with virtual mentors throughout the programme to master the curriculum and solve specific challenges faced by companies
* ABLE Financial Award - Modest stipend on completion of the programme
* Opportunity to take part in exclusive networking forums
* Opportunity to connect and interact with venture capitalists and angel and impact investors. Invitation to the African Diaspora Investment Symposium 2025.
Eligibility requirements
For consideration, potential candidates must meet the basic requirements:
* Founder or executive of a scalable, for-profit start-up
* The company must be led or co-lead by black or African entrepreneurs from the diaspora.
* The company is at an early stage and generating revenue (seed for Serie A).
*The company must be based in the United States
*Must be an established legal entity that has been in operation for 6 months or more
Primary selection criteria
* Must demonstrate early traction evidenced in growing usage, revenue or other metrics. (Proposals or prototypes are not eligible.) The company must have a website and a tangible digital or physical product or service.
* Potential for financial sustainability and investment. Potential for scalability. Demonstrate quantifiable impact and market reach
* The entrepreneur must be able to dedicate time to the programme's activities, including business training, mentoring sessions, networking events and pitch days.
Finalists are expected to meet with colleagues from the programme, members of the ADN network, mentors and sponsors as part of their commitment. Participants are expected to fulfil a high level of personal and professional integrity, mutual respect and responsibility.
Secondary Selection Criteria
* A strong preference for impact-orientated businesses.
Applications are welcome from all sectors, with priority given to those in underserved/represented sectors. Balanced gender representation among entrepreneurs. In the United States, black women receive the least amount of venture capital funding and should be well represented in the group selected.
Reasonable geographical spread across the United States and territories. Cross-sector diversity and a comprehensive mix that shows impact and innovation across various sectors, including education, health, finance, connectivity, agriculture and renewable energy.
