Business accelerators are popular tools for accelerating the creation of successful businesses. These incubators typically support new businesses in the hope that they will later become successful, self-sustaining companies. The support encompasses several dimensions such as office space, shared resources, support to grow the business and access to networks of experts and technical, business and financial partners.
Despite efforts by African governments to institutionalise business accelerators, their effectiveness is hampered by insufficient funding and lack of knowledge and expertise to achieve the incubator's objectives. The inadequacy of incubators and/or their lack of resources can be compensated for by private sector and civil society initiatives and/or by the adoption of online virtual models that reduce set-up and operational costs by increasing efficiency, spatial footprint and the number of people benefiting from the incubator.
It is in this context that AfroSkills, as a technology-based initiative, has created its virtual business incubator to share resources,
provide high quality training and coaching to businesses globally in a more efficient and affordable manner.
