We’re pleased to inform you that Cameroon Angel Network has been selected for Catalytic Africa manual pilot. This manual pilot will help refine Catalytic Africa platform, which is currently under development.

Catalytic Africa Overview

Catalytic Africa was established by ABAN and AfriLabs with the purpose to support the African startup ecosystem in the most efficient and meaningful way while delivering real, measurable impact to stakeholders. It is a cross stakeholder initiative that aims to strengthen entrepreneurs and startups, hubs, and angel investors while delivering impact results to institutional funders. Catalytic Africa consists of Catalytic Africa Platform and Catalytic Africa Fund. The project provides start-ups and business angels with a matching grant funds: For each equity investment of a business angel in a start-up, the fund will provide funding in the form of a grant to the start up in order to de-risk the investment of the business angel by allowing the start-up to have funds to run its project.

Matching grants will be provided according to the following ratios:

  • 2 : 1 Matching: If the business angel invests an amount less or equal to €10k, then the matching fund will provide twice as much funding as a grant to the start-up;
  • 3 : 1 Matching: If the business angel invests more than €10k, then the matching fund will provide a 3 times larger amount of funding as a grant to the start-up;
  • The maximum financing from the matching fund is €60k per start-up.

The start-up grant will not translate into equity but be used as an Equity-Free Grant directly to the start-ups.

The funds are distributed as follows:

  • 82.5% to the startup, disbursed based on achieved milestones.
  • 10% to the hub whose role is to provide independent verification and validation of the startups progress for 36 months. The hub starts with the verification of the angel investment in the startup, subsequently providing the program team and partners with quarterly progress reports on the startup based on the POEM Framework.
  • 5% to the Catalytic Africa program team as contribution to the program and platform management including the administrative overheads (e.g. KYC, AML/CFT) associated with the disbursement of the funds.
  • 2.5% to the angel network to help defray some of the administrative costs related to their members’ involvement in the program (e.g. due diligence).

Eligibility criteria: 

Start-ups selected to be eligible for the Catalytic Africa fund will meet a set of criteria, including:

  1. Start-ups are at least at the MVP stage.
  2. Start-ups are members of one of the hubs of the AfriLabs network (Being a member of a hub and having that hub being a member of AfriLabs, therefore, becomes much more valuable and providesextra guarantees on quality).
  3. Start-ups are willing to comply with the sector’s best practices regarding an environmental and social responsibility approach.

In order to be eligible for matching funds, startups must have received prior funding by angel investors that:

  1. Register with Catalytic Africa. Only investors that are members of an angel network affiliated to ABAN will be eligible.


Steps & Tentative Timeline for the Pilot

  1. Call for Registration & Application: May 21, 2021
  2. Application Review: May 31, 2021
  3. DD, AML/CFT: June 11, 2021
  4. Disbursement of matching funds to stakeholders: June 14, 2021
  5. Submission of baseline report by Hub: July 14, 2021
  6. Submission of baseline report by Angel Network: June 14, 2021

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