Francophone Africa DeepTech Startups to Get Backing From New $69M Fund
TLDR
- A $69 million (CFA 40 billion) innovation fund has been launched to support DeepTech ventures across Francophone Africa
- The initiative plans to finance 1,000 innovation-driven projects over the next five years across OAPI’s 17 member countries
- The fund will provide financial and technical support to startups and SMEs in sectors such as artificial intelligence, biotechnology, clean energy, and advanced manufacturing
A $69 million (CFA 40 billion) innovation fund has been launched to support DeepTech ventures across Francophone Africa. Announced in Yaoundé, Cameroon, the initiative is backed by the African Intellectual Property Organization (OAPI) and the African Guarantee Fund (AGF), with a goal to finance 1,000 innovation-driven projects over the next five years across OAPI’s 17 member countries.
The fund will provide financial and technical support to startups and SMEs in sectors such as artificial intelligence, biotechnology, clean energy, and advanced manufacturing. AGF will offer credit guarantees to improve access to bank financing, while startups will receive mentorship and commercialization assistance tailored to patented innovations.
OAPI is investing CFA 5 billion ($8.6 million) in AGF, becoming its second African shareholder after the African Development Bank (AfDB). The fund’s broader capital pool includes support from international partners in Denmark, France, Germany, and the U.S.
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Key Takeaways
The new DeepTech fund signals a shift in Africa’s approach to commercializing advanced research and intellectual property. While many African countries produce scientific research, converting it into scalable products remains a challenge, especially in Francophone states where venture funding is scarce. According to the 2024 Global Innovation Index, top performers like South Africa and Mauritius lead the continent in innovation output and patent filings. However, most Francophone African countries lag due to weak financing mechanisms and fragmented ecosystems. By offering guaranteed loans, mentorship, and industrial linkages, the OAPI-AGF initiative aims to address these bottlenecks. Its structure emphasizes risk-sharing and long-term support, especially for IP-backed projects. The first call for applications is expected in Q3 2025, targeting 200 projects in its inaugural year.
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