MEST Scale Venture Acceleration Program

byAWEB MEDIA GROUP
January 24, 2024

MEST Scale Venture Acceleration Program _ The MEST Scale Venture Acceleration Program is pleased to announce the commencement of online applications into its scholarship program. MEST Africa , in collaboration with the Mastercard Foundation, is inviting applications for growth and late stage startups In technology-focused SMEs available in Ghana, to take part in the next Session of the MEST Scale Venture Accelerator program.

Program Description

Scale is a venture acceleration initiative which is Created by MEST, in collaboration with the Mastercard Foundation, to support the Small and Growing Businesses improve their operations, address key technology gaps as well as to increase their ability and their potential/ capacity to scale up their growth phase.

The program, which is to kick-start in January 2023, is set to associate with ambitious entrepreneurs with high-growth innovative Industries that are set to the desired scale and have the Required energy to make significant impact.
The Companies that are able to meet the set requirements by MEST are called to apply: Sales and traction. The companies under MEST Scale Venture Acceleration Program are expected to have a Yearly minimum sales amount of up to $150,000 and can let the organizers know of at least 3 years of Excellent revenue growth. If the venture is not profitable, the organization are expected to have plans and path towards becoming financially free at the long run.
For this year’s MEST Scale Venture Acceleration Program , 6 scale-ups will be chosen to take part in the six-month acceleration program which is organized to harness and discover the growth potential, align their business for scaling-up, to ramp up their traction, And above all to increase their impact as well as to become investment grounds.

Benefits to Gain From MEST Scale Venture Acceleration Program

This program has supported companies in the areas of finance, in setting actionable scaling frameworks, In compliance, as well as investment readiness. As a Reaction to this, some industries have gone on to create major partnerships and investment opportunities Available within and outside the host country, Ghana .MEST Scale will offer to these companies with:

a well Tailored advisory assistance
they will provide Leadership coaching
the program will provide Investor engagement
it will also offer Funding and partnership opportunities as well as Technology enhancement
The program provides Tailored Advisory Support
You will Get seasoned business advice that will settle some of your specific needs
It offers Specialist Consultations
It offers Area-specific experts provided consultation sessions as well as guidance
Investor engagement
You will Get investor readiness support as well as many growth capital linkages
You will get Technology Enhancement
The program will Improve your use of technology to enhance business development MEST Scale Venture Acceleration Program Curriculum

For Month 1 : Scale diagnostics
For Month 2-4: Scale challenge articulation (starting from diagnostic), Scale strategy developmental Operations as well as business modelling Investment readiness
For Month 5-6: Scale plan pilot which will lead to the wrap up session. The MEST and the Mastercard Foundation will assist these businesses to settle the major challenges which is affecting their ability to scale.

Eligibility Criteria for Application Into The MEST Scale Venture Acceleration Program

Sales and traction – The company are expected to have a Yearly minimum sales amount of up to $150,000 and can show at least 3 years of Excellent revenue growth. If it is not profitable, the organization are expected to have plans and path towards becoming financially free.
Stage – The company is supposed to be commercially viable venture with good product-market fit, and with a major challenge of checking ‘where’, why ‘what’, and ‘how’ it can scale.
Personnel and talent – The company is supposed to have full-time management team with up to 5 team members.
Scalability – The company is expected to have a good blend of ambition as well as strong potential to scale up.
Market – The business is expected to be based in Ghana and must also be headquartered in the Greater Accra region.
Technology – The business is expected to be a software technology business, if not it may be a tech-enabled company.
Companies with female founders or Business with senior female staff members are particularly Called to apply. For this year’s program, 6 scale-ups will be chosen to take part in the six-month acceleration program which is structured to harness the growth potential, align their business for scaling-up, to ramp up their traction, And above all to increase their impact as well as to become investment grounds.

About the Organizers | When was the MEST program launched?

After up to a year of working with twelve SMEs from many industries, there have been a No. of insightful learnings gotten from this experience. Since the start of the program in December, with the aid of the expert advisors as well as session facilitators, the program have assisted these SMEs in fields related to capacity building, leadership, as well as organizational management. The program have also supported in the areas of finance, in setting actionable scaling frameworks, In compliance, and investment readiness. As a Reaction to this, some industries have gone on to begin major partnerships and investment opportunities Available within and outside the host country, Ghana .
In 2023, the program by MEST is set to focus on strengthening the 3 major elements that significantly determine the scaling level of businesses which are: people, processes, plus robustness. The organizers also found that these 3 factors Make the basis of what is vital before a business, regardless of its size or maturity , a business can successfully scale _ said Angela Duho, who is a Program Manager, working with MEST Scale.

“ This combined initiative with MEST offers a platform for offering start-ups to explore, to scale higher , and contribute in cutting-edge between the technological development to take care of real-world challenges in Ghana, and all of African continent, and in the world at large. The Mastercard Foundation will keep on supporting, scaling, and driving innovation both within the technology startup ecosystem available in Ghana, by cutting the gap and Getting rid of the barriers that are keeping startups aback .” Detail from Rosy Fynn , who works as the Country Head( Ghana) at the Mastercard Foundation.

Application Process for MEST Scale Venture Acceleration Program

Step 1: you are to Fill out the common application form which is hosted on F6S
Step 2: Shortlisted ventures/companies are called for the first round of interviews
Step 3: the last list of companies are delivered offers of admission letters
Step 4: the Admitted companies are finally onboarded into the program

Timeline for the MEST Scale Venture Acceleration Program

Online Applications Open: 15th August 2022
Program Information Session: to start from 25 August 2022
Application Deadline : 7 October 2022
Application Review and Selection: To Begin in November
Program Begins: 16 January 2023
Program Stops: 30th June 2023

For More details, kindly visit https://meltwater.org/mest-scale/

Conclusion

Interested and fit for the MEST Scale Venture Acceleration Program? The MEST Scale Venture Acceleration Program is now inviting you to submit yout online application forms to apply to her scholarship program in Ghana. MEST Africa , in collaboration with the Mastercard Foundation, is inviting applications for growth and late stage startups In technology-focused SMEs to hold in Ghana.

Frequently Asked Questions

Step 1: you are to Fill out the common application form which is hosted on F6S

Step 2: Shortlisted ventures/companies are called for the first round of interviews

Step 3: the last list of companies are delivered offers of admission letters

Step 4: the Admitted companies are finally onboarded into the program

The last date to apply is on 7th October

Reference

https://meltwater.org/mest-scale/
https://technovagh.com/mest-scale-venture-acceleration-program-opens-applications-for-scale-ready-startups-and-smes-in-ghana/
https://www.opportunitiesforafricans.com/mest-scale-venture-acceleration-program-2023/