Village Capital, with the support of IFC, has launched the Future of Work Africa 2021 – an accelerator supporting and scaling startups across Sub-Saharan Africa that help young people find jobs, build careers, and prepare for the future of work.
The accelerator will support entrepreneurs building for-profit, market-based solutions across the education, employment, and benefits spectrum that can help young people in Sub-Saharan Africa better prepare for and manage the future of work.
Africa’s workforce is projected to be the largest in the world in the coming decades, with hundreds of millions of people below the age of 25 starting to look for work.
But there are simply not enough quality jobs for this young and growing population. Nearly half of young people on the continent are unemployed, and in some countries, more than four out of five workers in the informal sector, with fluctuating incomes and few if any benefits. While agriculture has long been the continent’s top sector, more and more of Africa’s population is moving to urban areas, where jobs in the formal sector are in short supply.
Eligible startups need must address youth unemployment through innovations like upskilling/reskilling programs, credentialing programs, new approaches to apprenticeship or employment matching, financial health for informal workers, and/or Edtech.
Future of Work Africa 2021 will host two cohorts, each cohort will have between 10 and 15 entrepreneurs.
Interested startups can apply for the program (for both cohorts) here before January 22, 2021.