By Esther Onyegbula

Founder and Chief Executive Officer of Innovest Afrika, Femi Moito, has said the organisation’s core objective is to bridge the persistent funding gap facing African startups by connecting founders to global capital, mentorship, and scalable market opportunities.

Speaking in an interview, Moito described access to funding as the most critical barrier confronting entrepreneurs across the continent, noting that Innovest Afrika was established to address this challenge through structured programmes and direct investment.

“Our mission is straightforward: to help African founders access the resources, networks, and capital required to transition from early-stage ventures to sustainable, investable businesses,” he said. “We aim to bridge capital, capacity, and community on a global scale.”
Moito explained that the Houston-based nonprofit venture platform supports founders of African descent through its flagship Innovest Ignite Accelerator, an eight-week virtual programme designed to prepare startups for investment readiness.

According to him, the initiative combines structured learning with mentorship from a global network of investors and industry experts across Africa, Europe, and the United States, culminating in a physical demo day where participants pitch to potential investors.

“In 2024, we launched the Innovest Ignite Accelerator focused on investment readiness. The programme has already been implemented in Nigeria, Ghana, South Africa, and Boston, and will expand this year to Kenya, Rwanda, and Egypt,” he said.

Beyond training, Moito noted that Innovest Afrika plays an active role in facilitating funding for startups through partnerships with venture capital firms and its proprietary Innovest Catalyst Fund.

“We serve as a pipeline for global venture capital firms seeking opportunities in Africa, connecting them with our alumni network. In addition, through the Innovest Catalyst Fund, we directly invest in outstanding startups graduating from our programme,” he added.
Highlighting the platform’s impact, Moito disclosed that since 2024, Innovest Afrika has supported over 70 startups and engaged more than 1,000 entrepreneurs, with alumni collectively raising over $5 million in follow-on funding.

“More than 30 per cent of these startups secure investment within six months of completing the programme,” he said.

On partnerships, Moito said collaboration with the African Business Roundtable and support from the Pan-African Private Sector Trade and Investment Committee, PAFTRAC, were expanding access to capital and strategic networks for entrepreneurs across the continent.

He also underscored the value of Innovest Afrika’s collaboration with Babson College, noting that it provides founders with access to world-class entrepreneurship education delivered by faculty of the institution.

Assessing Africa’s startup ecosystem, Moito said the sector is witnessing rapid growth, driven by improved talent, structured support systems, and increasing investor interest, although dependence on foreign capital remains high.

“The ecosystem is maturing rapidly, but expanding local investment participation is critical to long-term sustainability,” he said.

Looking ahead, he projected that countries such as Nigeria, Kenya, Egypt, and South Africa would continue to emerge as key innovation hubs over the next decade, particularly with improved policy environments and increased domestic investment.

Moito identified fintech as the leading sector driving innovation on the continent, while also pointing to growing opportunities in renewable energy, climate technology, and healthtech.

Despite the progress, he reiterated that limited access to patient capital continues to constrain many promising startups.
“Investors are focused on fundamentals, strong teams, compelling solutions, large markets, clear product-market fit, and scalable business models with sound unit economics,” he said.

On attracting long-term investment, Moito stressed the need for macroeconomic stability, policy consistency, and reduced investment risks across African markets.

“Government policies must create enabling environments, while the private sector executes. When aligned with incentives and market demand, this collaboration accelerates innovation,” he added.

He advised African entrepreneurs to prioritise solving real local problems while building scalable and sustainable ventures.
“Success in Africa requires resilience, adaptability, and a long-term mindset,” Moito said.