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The 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 unveiled the Chanzo ONESPACE Startup and Scaleup Accelerator (COSSA).
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The COSSA program is set to initially focus on tech ventures that are ready to scale up from their country of origin into new markets. It leverages the strategic incentives, one-stop-shop, and enabling environment created by TRIFIC SEZ, the high-end office space and administrative 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.
Besides capital, the Accelerator will offer capacity building for the cohort and connect them to the business community of the countries they are expanding into.
COSSA is a partnership between three leading African institutions, crafting an African solution to the challenges businesses face when expanding across the continent. The program takes advantage of the African Continental Free Trade Area (AfCTA) to create African multinational corporations.
Chanzo Capital will host the eleventh edition of its annual Angel Fair Africa in Nairobi, Kenya, from November 7th to 8th, 2024. Upon completion of the COSSA program, these scaleups will pitch to more investors.
The first cohort of COSSA includes companies such as SaveApp, At Large Innovation (ThryvCapital Partners LLP), and CheckUPS COVA, all from Kenya and looking to expand internationally.
“We’re delighted to welcome Chanzo Capital to TRIFIC SEZ. This is a great addition to our portfolio of companies and will go a long way toward making us the Special Economic Zone of choice for high-tech firms,” said Brenda Mbathi, CEO of TRIFIC SEZ.
Ian Kabiru, CEO of ONESPACE, added, “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.”
Dr. James Mworia, CEO of Centum and keynote speaker for the eleventh Angel Fair Africa, remarked, “Programs such as COSSA are the reason we created the Innovation Hub at TRIFIC SEZ.”
“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, during the launch of the program.
