Ingressive LLC has launched a non-profit arm, Ingressive For Good, to empower African youths. The empowerment will be in the form of micro-scholarships and technical training.
Ingressive LLC is the holding company for Ingressive Capital, Ingressive Advisory, and Ingressive For Good (I4G). Ingressive Capital invests in pre-seed and seed funding rounds of African startups. It recently doubled the size of its fund to $10M. Ingressive Advisory provides market research services for global businesses and investment groups. It has worked with Y Combinator, Techstars and Omidyar Network.
The mission of Ingressive For Good is to increase the earning power of African youths. It aims to train one million youths and create 5,000 jobs through partnerships.> **Related Article:** [Ingressive Capital is now a $10 million fund and it sets to cut $400,000 cheques for 10% equity in early-stage African startups](/ingressive-capital-10m-fund-10-per-cent-equity/)
"We believe it is our responsibility to empower, inspire, educate, and connect the next generation of African tech talents to opportunities", says Blessing Abeng, Director of Communications, Ingressive. "Our core programmes include micro-scholarships, technical training, talent placement, and community (also known as, I4G Circles)".
The community members have access to a large network of thought-leaders in the African tech ecosystem. They also have access to resources, consultation and coaching opportunities.
"The three core goals of Ingressive For Good are: to create 5,000 jobs through partnerships, connect 1,000,000 African youths to technical skills training, and award partial scholarships to qualified individuals studying computer science courses", says Sean Burrowes, Executive Director of I4G.
According to the United Nations, Africa has the youngest population in the world. Sixty percent of Africa’s population is under the age of 25. The median age is 19.8. By 2055, the population of African youth is projected to be over 452 million. And by 2100, it would be twice the population of Europe (1.4 billion).
While a young population is a bellwether for economic growth and development, Africa is inhospitable to young people. The continent grapples with massive unemployment and poverty. Coupled with the coronavirus pandemic and its devastating effect, African youth are under extreme pressure. The UN has noted that the prosperity of Africa is dependent on how the governments address this challenge.
Maya Horgan-Famodu, Founder of Ingressive, said, "We are ecosystem architects, and this is the next phase of building the pipeline for Africa to the world".