Global venture capital firm 500 Global has partnered with the United Nations Development Programme (UNDP) to roll out a three-pronged entrepreneurship initiative in Nairobi, positioning Kenya’s capital as a hub for innovation across Africa. The collaboration aims to strengthen the continent’s startup ecosystem by providing structured support at multiple stages of entrepreneurial growth.
The initiative introduces three distinct programs. The Pre-Acceleration Academy, running in Nairobi from October 6–12, is designed for founders at the idea and early development stage. This will be followed by the Sustainable Innovation Seed Accelerator, targeting startups building environmentally conscious and socially impactful solutions.
Path towards global markets
To reinforce ecosystem infrastructure, 500 Global will also deliver a Bootcamp for Accelerator Managers, training innovation leaders within UNDP’s timbuktoo initiative to nurture emerging ventures continent-wide.
According to Mareme Dieng, Partner at 500 Global, the partnership reflects an opportunity to help African entrepreneurs navigate global markets while accessing the resources needed for long-term growth. Ahunna Eziakonwa, UN Assistant Secretary General and Director of UNDP’s Regional Bureau for Africa, emphasized that the initiative is part of a broader effort to build a resilient innovation ecosystem aligned with the UN’s Sustainable Development Goals.
500 Global has been active in Africa since 2011, backing more than 100 startups, including Chipper Cash, Smile Identity, and Stitch. Globally, the firm manages $2.1 billion in assets, with a portfolio of over 3,000 companies in 80 countries.
The initiative is integrated into UNDP’s timbuktoo program, which seeks to mobilize $1 billion to transform 100 million livelihoods and create 10 million jobs across Africa. Applications for all three programs are now open through the Pre-Acceleration Academy and Sustainable Innovation Accelerator portals.