AyaHQ, Africa’s leading blockchain incubator, celebrated the graduation of its second cohort with a Demo Day in Accra, marking the culmination of a competitive process that began with over 300 applications. Held at the UNDP Innovation Centre in Ikoyi, the event gathered founders, investors, and debt providers at a time when African startups are increasingly seeking alternatives to traditional venture capital.
From 300 Applicants to Eight Founders
AyaHQ founder and CEO Eric Annan highlighted the rigorous selection process: “We started with over 300 applications, shortlisted 25, filtered to 12, and then arrived at these final eight founders who pitched to global investors today.” The diverse cohort represents startups from Nigeria, South Africa, Kenya, Rwanda, and Uganda, reflecting the incubator’s continental reach.
A Comprehensive Incubation Model
In partnership with LISC, a layer-2 blockchain on Ethereum, AyaHQ provides up to US$20,000 in grants, access to further funding, and holistic support. Beyond financing, the program focuses on mentorship, environmental backing, and mindset development. “We make sure young people not only dream but also have the tools, mentorship, and funding to push those dreams into reality,” Annan said.
Addressing Africa’s Confidence Gap
Annan noted a recurring challenge in the ecosystem: “The African child has the knowledge and capacity, but often lacks the audacity to dream.” AyaHQ aims to bridge this gap by providing exposure, structure, and confidence-building opportunities for talented entrepreneurs.
Track Record and Growing Impact
Since its inception 18 months ago, AyaHQ has incubated 50 startups from 34 countries, which together have raised more than US$500,000. Its ecosystem includes AyaVersity for incubation, AyaLabs for hackathons, and BuilderHubs for live-in innovation. The Accra BuilderHub has hosted founders from 25+ countries, while another hub in Kilifi, Kenya, and plans for a new 1,000-capacity campus in Accra demonstrate AyaHQ’s expanding footprint.
Building Indigenous Wealth and Self-Reliance
Michael Awal, Manager of Global Partnerships, stressed the need for African-driven solutions: “The time of waiting for handouts is over. We want to see the day when African billionaires donate millions to our own countries instead of always waiting for Bill Gates or others.”
The Demo Day also featured panels on financing strategies, exploring the balance between equity and debt. One investor summed up the philosophy: “Equity is there to fund the vision, but debt is what you use to build the machine.” AyaHQ’s candid, off-the-record discussions offered entrepreneurs practical insights into capital raising and deal structuring, reinforcing its mission to empower Africa’s entrepreneurial ecosystem.
