Founder and CEO of Innovest Africa, femi moitohas said that the organization is focused on closing the funding gap for African startups by connecting them to global capital, mentorship and markets.
Moito, who disclosed this in an interview, said the Houston-based non-profit venture platform was established to accelerate innovation among founders of African origin and position them for international investment opportunities.
“Our mission is simple, to help African founders access the resources, networks and capital needed to transition from early-stage ventures to sustainable, investable businesses,” he said.
He explained that the platform delivers its mandate through key initiatives, including the Innovest Ignite Accelerator, an eight-week virtual program designed to prepare startups for investment by strengthening their business models and execution capabilities.
According to him, the accelerator combines structured learning with guidance from global industry experts and investors in Africa, Europe and the United States, culminating in a physical demo day where startups pitch to investors.
Moito said the program has already been conducted in Nigeria, Ghana, South Africa and Boston, and there are plans to expand to Kenya, Rwanda and Egypt within the year.
To overcome funding barriers, he said the organization operates a dual model, connecting startups with global venture capital firms, while also investing directly through its Innovest Catalyst Fund.
“We are not just facilitators; we are active investors. This ensures that promising startups get access to early-stage funding immediately after the program,” he said.
Providing insight into its impact, Moito revealed that since 2024, the platform has supported over 70 startups and engaged over 1,000 entrepreneurs, with participating enterprises collectively raising over $5 million in follow-on funding.
He said more than 30 percent of the startups secured investment within six months of completing the program.
On partnerships, he said the collaboration with the African Business Roundtable, supported by the Pan-African Private Sector Trade and Investment Committee (PAFTRAC), is expanding access to capital, mentorship and strategic networks across the continent.
He also highlighted the collaboration with Babson College, which provides executive education content to accelerator participants to strengthen their ability to build scalable businesses.
Speaking on Africa's startup ecosystem, Moito said it is “rapidly maturing”, driven by strong talent, better support structures and growing interest from investors, although dependence on foreign capital remains a concern.
They forecast continued growth over the next decade, with countries such as Nigeria, Kenya, Egypt and South Africa expected to consolidate their positions as major innovation hubs.
“Fintech continues to dominate, but renewable energy, climate tech and health tech are gaining momentum,” he said.
Moito identified limited access to patient capital as the biggest challenge facing African entrepreneurs, stressing that macroeconomic stability, policy stability and low investment risk are critical to attracting long-term financing.
He said strong collaboration between governments and the private sector will be essential in creating an enabling environment for innovation.
Giving advice to entrepreneurs, Moito urged founders to focus on solving real local problems with scalable solutions backed by strong business fundamentals.
“Success in Africa requires flexibility, adaptability and a long-term mindset,” he said.