Startup accelerators across Africa are facing renewed scrutiny over claims that they are misdirecting capital and shaping innovation in ways that prioritise presentation over real-world impact. Anthony Otaigbe, the founder of Izesan, an e-learning language platform, stated that the growing influence of accelerators has quietly altered how many founders build their companies, often encouraging them to focus on attracting funding rather than solving market needs.
Accelerators as Gatekeepers
“In theory, accelerators are meant to identify and support promising startups. In practice, many have become gatekeepers that reward optics over substance and narratives over traction,” Otaigbe said. He noted that across the continent, entrepreneurs are increasingly tailoring their businesses to meet investor expectations, refining pitch decks and adopting trending language such as artificial intelligence, fintech, and climate innovation.
Building for Accelerators, Not Markets
According to Otaigbe, this shift reflects a broader system that incentivises storytelling over performance. “Founders are building for accelerators, not for markets. It’s a rational response to how capital is allocated today,” he said. He added that many programmes tend to fund startups that mirror familiar Western models, particularly those aligned with global venture capital patterns.
“Africa is not Silicon Valley, yet capital often flows to what looks and sounds like it,” Otaigbe noted, warning that this bias sidelines sectors such as agriculture, education, and infrastructure, where locally grounded solutions are most needed.
Distorting Innovation
He said the implications of this trend are becoming more visible, with funding frequently concentrated in well-branded ventures that may lack deep local relevance. Otaigbe cautioned that this dynamic risks distorting the definition of innovation itself, adding that, “When funding becomes the proxy for impact, the system starts mistaking visibility for value.”
Lack of Transparency
He also pointed to limited transparency in how accelerator decisions are made, arguing that unclear selection criteria and minimal public accountability have fuelled frustration among founders. “Who gets to decide what innovation in Africa looks like remains an open question,” he said.
Despite these concerns, Otaigbe maintained that accelerators can still play a constructive role if they evolve. He urged them to adopt clearer metrics for success, focus on local market needs, and avoid imposing foreign models that may not fit African realities. By doing so, accelerators can help nurture startups that create genuine value rather than just chasing funding.
