Oracle, an American multinational tech corporation, pledges 1 million USD to support African startups. Oracle provides combined cloud applications and platform services. It delivers services to the automotive, financial, healthcare, hospitality, retail, utilities, construction, and other industries.
Africa’s technology industry is a growing interest for investors and entrepreneurs from Africa itself and other continents. Research shows a 91% growth in employment from South African startups and a 39% growth from over 13 other African countries in the past year.
Africa Data Centres Association (ACDA) reported that over 700 new facilities, 1000 MW, are required for Africa to fulfill demand and enable the continent to reach the same level of data center density and capacity as South Africa.
Due to challenges like the lack of infrastructure, high temperatures, and skilled labor, African countries cannot expand swiftly. With the 1 million USD funding, Oracle aims to assist startups at the grassroots level enhance their efforts and growth.
The funds allow access to more resources & support for tech startups across Africa for two years. Oracle offers hands-on tech support, executive mentoring, go-to-market resources, and customer engagement. In addition, the company will provide cloud credits of up to 10,000 USD for 100 startups to boost digital initiatives using modern cloud technologies and business resources.