Is Mstudio wagering on the transferability of their tech idea from Lagos to Abidjan?
Mstudio, a trailblazing startup accelerator, was launched in 2023 in Abidjan, Cote d'Ivoire. Since its inception, Mstudio has been making waves in the African startup ecosystem, particularly in Francophone West Africa.
Mstudio boasts a playbook of over 100 tasks that a startup needs to execute to launch and scale. This comprehensive guide has significantly increased the number of startups that raise money with their model, more than doubling the average.
One of Mstudio's key offerings is financial backing. If an idea passes the Entrepreneur-in-Residence (EIR) phase, Mstudio invests €500,000 in each startup in-kind, taking 25% equity. Additionally, the Mstudio fund invests €250,000 in cash, exchanging for 12.5% equity, making the pre-seed round €750,000 for 32.5% shared between MStudio and the fund.
Mstudio's mission is to reduce the time for pre-seed rounds from 12 months or more to just three months. This rapid pace has been achieved by streamlining the investment process and providing the necessary resources for startups to hit the ground running.
Mstudio focuses on solutions for the informal economy, building mobile-based startups to address the unique challenges faced by this sector. They often look for repeat entrepreneurs, those with experience in startup roles like chief of product or engineering lead, and strong academic background students.
Mstudio also values diversity in its founders, preferring complementary pairs: one from the diaspora/international, and one local co-founder. This approach allows for a blend of global perspectives and local insights, which is crucial in navigating the complexities of the African market.
In addition to its core services, Mstudio organises masterclasses and events to provide additional consulting, advice, and networking opportunities. Their online platform provides access to a community of over 50 VCs, universities, and corporate partners.
Mstudio contributes to around 70% of early-stage deals in Cote d'Ivoire. They recruit founders through multiple pipelines: existing startup founders, top talent from high-growth startups, diaspora professionals, and high-potential students or executors.
What specific challenges in Francophone West Africa is Mstudio aiming to address with its solutions? Mstudio seeks to replicate the success of business models from Nigeria and Anglophone Africa in Francophone Africa. They are committed to addressing the unique challenges that Francophone West Africa faces, such as language barriers, cultural nuances, and infrastructure issues, to foster a thriving startup ecosystem.
Mstudio's technical assistance team includes experts in growth, corporate finance, legal, go-to-market, product, UI/UX design, and more. They provide ongoing support to ensure the success of their startups, even after they have graduated from the programme.
Over the past two years, Mstudio has represented 70% of pre-seed and seed rounds, and potentially Series A, in Cote d'Ivoire. The company is led by Cédric Mangaud as CEO and Leslie Ossete as COO.
Under their leadership, Mstudio has become a significant player in the African startup scene, contributing to the growth and development of the startup ecosystem in Cote d'Ivoire and beyond. Their innovative approach, comprehensive resources, and commitment to diversity and inclusion make them a formidable force in the world of startups.
Read also:
- Transforming Digital Inventories in the Food Industry: A Comprehensive Guide for Food Businesses
- Munich Airport Unveils Its New Electrical Vehicle Charging Parksite
- 1. Key Points for August 14: Gathering in Alaska, Immigration Enforcement (ICE), Financial service Zelle, Infowars, and Air Canada Airline Incidents
- Automobile manufacturer IM Motors reveals an extended-range powertrain akin to installing an internal combustion engine in a Tesla Model Y.
