
AI-generated summary
The Korea-Africa Foundation, in cooperation with the AfCFTA Secretariat, implemented the AfCFTA Startup Partnership Program for the first time this year to support the growth potential of African startups and strengthen Korea-Africa economic cooperation.
Foundation’s first implementation this year… 30 African startups participate online
(Seoul = Yonhap News) Reporter Park Seong-jin = The Korea-Africa Foundation announced on the 11th that it held the orientation for the African Continental Free Trade Area (AfCFTA) startup partnership program online on the 8th.
AfCFTA is the world's largest free trade area, with all 54 African countries participating as members.
The AfCFTA Startup Partnership Program was established to support African startups with high growth potential and strengthen Korea-Africa economic and business cooperation. The foundation will implement it for the first time this year in cooperation with the AfCFTA Secretariat.
The program orientation was attended by officials from the foundation and the AfCFTA Secretariat, as well as 30 promising African startups selected through document and presentation screening.
African startups were selected from five regions on the continent.
By sector, there are 10 agriculture companies, 6 digital platform companies, 4 manufacturing companies, 3 logistics companies, 3 e-commerce companies, 3 fintech companies, and 1 climate tech company. By region, 8 companies were selected in southern Africa, 7 in western Africa, 6 in central Africa, 5 in eastern Africa, and 4 in northern Africa.
The acceleration program, which is part of the AfCFTA startup partnership program, begins in earnest with orientation.
The acceleration program strengthens market entry capabilities through one-on-one mentoring and training programs, while supporting the establishment of customized market entry strategies for each company and strengthening exchange capabilities with Korean partners.
In addition, 15 promising African startups selected through Demo Day (demonstration) in October will be given the opportunity to visit Korea.
African startups are planning to tour the Korean startup ecosystem in December and participate in the African pavilion exhibition at the global startup festival 'COMEUP' hosted by the Ministry of SMEs and Startups.
AI outlook — possibilities, not facts
15 selected promising African startups will have the opportunity to visit Korea through Demo Day in October.
Very likely · Within months
African startups are planning to tour the Korean startup ecosystem in December and participate in the African pavilion of the ComeUp Festival.
Likely · Within months

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