Two Rivers International Finance and Innovation Centre SEZ (TRIFIC SEZ), ONESPACE, and Chanzo Capital, a venture and growth capital firm dedicated to investing in high-tech startups and scaleups, have today launched the Chanzo ONESPACE Startup and Scaleup Accelerator (COSSA).
Focus on Tech Ventures
The COSSA program will initially focus on tech ventures that are ready to scale up from their country of origin into new markets. COSSA leverages the strategic incentives, one-stop-shop, and enabling environment created by TRIFIC SEZ, the high-end office space and admin services delivered by ONESPACE, as well as the capital provided by Chanzo Capital through the KINGS (Kenya, Ivory Coast, Nigeria, Ghana, and South Africa) fund. In addition to the capital, the Accelerator will provide capacity building for the cohort and connect them to the business community of the countries they are launching into.
Crafting African Solutions
The COSSA program is a partnership between three leading African institutions, crafting an African solution to the challenges that businesses from one country face when they want to expand into other countries in Africa. The program leverages the tailwind of the African Continental Free Trade Area (AfCTA) to create African multi-national corporations.
Upcoming Events and First Cohort
Chanzo Capital will host the eleventh edition of its annual Angel Fair Africa in Nairobi, Kenya, from November 7th to 8th, 2024. On completion of the COSSA program, these scaleups will pitch to more investors. The first cohort of COSSA includes the following companies: SaveApp, At Large Innovation (ThryvCapital Partners LLP), and CheckUPS COVA, all from Kenya and looking to expand outside.
Statements from Leaders
“We’re delighted to welcome Chanzo Capital to TRIFIC SEZ. This is a great addition to our portfolio of companies that will go a long way into making us the Special Economic Zone of choice for high-tech firms,” said Brenda Mbathi, the TRIFIC SEZ Chief Executive Officer.
According to Ian Kabiru, CEO of ONESPACE, “We have been home to multiple African and international businesses, so our team has the know-how and networks to support the COSSA cohort and enable them to focus on their core business.”
“Programs such as COSSA are the reason we created the Innovation Hub at TRIFIC SEZ,” said Dr. James Mworia, CEO of Centum, who is also the keynote speaker for the eleventh Angel Fair Africa.
“The COSSA program will create African tech multinational companies by allowing them to trade globally,” said Cabinet Secretary for Investment, Trade, and Industry, Hon. Rebecca Miano EGH, as she launched the program.
