Houda Ghozi, Founder and CEO of OST (Image source: supplied).
Open Startups (OST) has launched Science Road, an initiative focused on supporting deep-tech and research-based enterprises in Africa from development to market readiness and investment.
Marking its 10th anniversary since its founding in Tunisia in 2016, OST said it is entering a new phase focused on enterprises in health, climate, artificial intelligence and related technologies.
The organization said the initiative builds on its work supporting more than 3,000 founders and more than 1,000 start-ups in more than 20 African countries.
OST said Science Road responds to the part of the innovation ecosystem that is still disadvantaged. Deep-tech and science-based ventures typically require expert support, relationships with universities and industry, long development timelines, and early-stage funding before commercialization.
This initiative brings together OST's programs under a single acceleration structure and launches Openers First, an investment arm that provides early-stage support to selected enterprises.
It also builds on OST's evolution from a university entrepreneurship competition to a Pan-African investment-readiness programme.
OST said it will organize its activities into two tracks: one focused on pre-seed ventures translating research into investable businesses, and the other supporting seed-stage start-ups scaling technologies for commercial and social impact.
Openers First will provide early stage funding to selected enterprises emerging from OST's programmes. It aims to complement OST's investment-readiness work and support enterprises transitioning from pre-seed to seed stage.
As part of the initiative, the Science Road will connect the ecosystem from Tunis to South Africa.
The organization is working with partners including CERI, Stellenbosch University and LaunchLab to help research-led founders move from the research environment to commercial application.
“For ten years, OST has worked to help entrepreneurs build enterprises and access opportunities,” said Houda Ghozi, Founder and CEO of OST.
“As we enter our second decade, we do so with greater maturity, a broader continental footprint and a new ambition.
“We believe Science Road can become a runway connecting Africa’s innovators to the world, opening up new opportunities for collaboration, investment and scientific advancement, as well as helping to build a new story between Africa and the world: one defined by contribution, innovation and shared prosperity.”