Who can apply
- For-profit technology-driven startups operating in Africa
- African or local founders actively leading their startups full-time
- Pre-seed and very early-stage companies
- Startups with a minimum viable product
- Startups showing early market validation or traction
- Startups with ideally some paying customers, pilots, usage evidence or other credible validation
- Companies that have raised little or no institutional funding
- Solo founders as well as founding teams
- Startups across different technology-enabled sectors
- Founders from underrepresented and underserved African startup ecosystems are particularly encouraged
Focus areas
- Technology-enabled businesses
- Digital innovation
- Financial technology
- Artificial intelligence
- Climate technology
- Health technology
- Agricultural technology
- Biotechnology
- Mobility and logistics
- E-commerce
- Enterprise technology
- Consumer technology
- Other scalable technology-driven sectors
- Mission-driven entrepreneurship
- Solutions addressing significant African market problems
Requirements
- Startup must operate within Africa
- Core operations and leadership must be based on the African continent
- Founders should be actively engaged in the company full-time
- Startup should have progressed beyond the idea stage
- Startup should have a minimum viable product or credible market validation
- Evidence of traction may include paying customers, pilots, users, commercial interest, waitlists or other verifiable demand
- Startup should have received little or no institutional funding
- Business must be for-profit; non-profit institutions and companies are not eligible
- Applicant should demonstrate a clear problem, solution and potential for meaningful scale
- Startup does not have to be incorporated before applying, but successful investment requires appropriate legal incorporation and compliance
- Selected startups must pass Madica's commercial, legal and financial due diligence
- Founders must be prepared to accept equity investment through a SAFE or similar investment structure
Application steps
- Review Madica's eligibility criteria and confirm that your startup is a for-profit, technology-driven African venture with an MVP or credible early validation
- Prepare concise evidence of your problem, solution, traction, team, market opportunity and what the Madica investment would enable you to achieve
- Complete and submit the official Madica online investment application questionnaire
- If shortlisted, participate in follow-up discussions and provide requested materials such as a pitch deck, user metrics or financial information
- If progressed further, prepare for commercial, legal and financial due diligence and an Investment Committee discussion before any investment offer is finalised
Madica is not a grant or NGO funding programme. It is most suitable for founders building scalable, for-profit technology businesses in Africa who are comfortable receiving venture investment through a SAFE or similar equity-linked structure. NGOs, charities and other non-profit institutions are explicitly ineligible. Applicants do not need massive revenues or a highly polished pitch deck, but Madica expects more than an idea. Strong applications should demonstrate an MVP, credible early validation, strong founder-market fit, clear execution ability and evidence that an investment of up to US$200,000 would materially accelerate the company's next stage. Founders should prepare for meaningful due diligence, including business, financial, governance and legal review. Because applications are rolling with no cohort or deadline, applicants should apply when their traction and evidence are strongest rather than submitting prematurely.