Microsoft partners with VCs, accelerators to back 10,000 startups in Africa

Over the next five years, Microsoft plans to support 10,000 startups in Africa through a series of initiatives.

$500 million in potential investment will be unlocked by partnering with venture capital investors. Microsoft is working with Banque Misr, Global Venture Capital and Get Funded Capital.

The recently established Africa Transformation Office will carry out these initiatives. Microsoft's strategic initiatives in Africa are driven by partnerships with public and private organizations.

The goal in establishing these partnerships with venture capital investors is to extend the network of potential partnerships between Microsoft, venture capital investors and startups, thereby increasing the funding made available to eligible startups, said Gerald Maithya, Startups Lead, Microsoft Africa.

Microsoft said it was creating partnerships with accelerators and incubators to provide markets, technical skills, and investment opportunities.

Microsoft's global Founders Hub, a self-service hub providing startup with a variety of resources and access to mentors, will be available to African startups. There are opportunities to co-sell to Microsoft's corporate and enterprise customers.

Africa has huge potential to become a hub of digital innovation on the global start-up landscape. Microsoft Africa Transformation Office managing director, Wael Elkabbany, said that their ambition is to see an explosion of local inventions that will contribute positively to global society.

Microsoft is joining a growing list of tech companies that are targeting startup in Africa. The $50 million Africa Investment Fund was launched last year by the internet giant.