Orange Corners is happy to announce the winners of the second OCIF subsidy round, which was open between 12 February and 1 April of this year for potential implementing partners in Senegal, Jordan, South Africa, Ghana, Egypt, Algeria and the Palestinian Territories.
About OCIF
Through the Orange Corners Innovation Fund (OCIF), we support young entrepreneurs to scale their businesses, create jobs and address local social challenges. OCIF is an extension of the Orange Corners incubation and acceleration programmes, designed to address the financing needs of young entrepreneurs in Africa, the Middle East and Southeast Asia. By providing selected local fund managers with capital, OCIF enables investments in Orange Corners entrepreneurs who are often deemed too high-risk by traditional funding sources.
Senegal
From 2025 onwards, OCIF Senegal will be managed by a familiar name: Haskè. While Haskè Conseil is currently responsible for the implementation of Orange Corners Senegal, Haskè Ventures will be responsible for OCIF. For OCIF they will partner with Seedstars, a venture capital fund investing in 25+ countries in Sub Saharan Africa.
Jordan
A new OCIF country, in Jordan the Orange Corners Innovation Fund will be managed by finnpact. This impact and development advisor designs and implements programmatic and fund solutions to address the demands of emerging and frontier markets in Africa and the Middle East.
South Africa
Another new OCIF country, in South Africa OCIF will be managed by CDI Capital. CDI Capital is an impact investor in local SMMEs, empowering businesses to innovate, fast-track growth, create jobs, improve lives and help build a stronger economy. CDI works with corporates, government and development agencies to invest in individual businesses through their SMME development programmes, grants, loans and equity.
Ghana
In Ghana, we will continue our OCIF partnership with Fidelity Bank Ghana. A household name in Ghana, we are happy to build on the foundation laid together since 2019.
Egypt
A first-time OCIF country, in Egypt OCIF will be run by Falak Startups and Athar Accelerator. Powered by the Egyptian Ministry of International Cooperation and its venture capital arm Egypt Ventures, Falak Startups’ mission is to find and empower talented and ambitious seed stage tech startup founders and help them thrive in the region’s rapidly changing entrepreneurship landscape. Athar is an early-stage accelerator and business support network, with a mission to activate and strengthen the region’s startup ecosystem.
Algeria
Rolling out OCIF in Algeria for the first time, we will partner with the Algerian Startup Fund (ASF). Since its inception in 2020, this sector agnostic, pre-seed and seed stage focused fund has supported over 100 startups with financial and advisory services, fostering innovation and economic growth.
Palestinian Territories
In the Palestinian Territories, OCIF will be managed by Intersect Innovation Hub. Intersect is a non-profit business incubator that provides startups with the resources they need to create cutting-edge solutions. For OCIF, they will partner with Ibtikar and the Bank of Palestine. The Ibtikar Fund invests in Palestinian entrepreneurs both from within the Palestinian Territories and from the broader MENA region. Their focus? Tech and tech-enabled startups that are scalable and that serve a MENA region or global need.
Many congratulations to all winners, we look forward to working together for the next few years!
