AFD has joined forces with Paris 2024 to support elite athletes in developing entrepreneurship projects with a social and/or environmental impact in France and Africa.
Context
Social entrepreneurship is a fitting response to the challenges faced by African countries: by proposing innovative solutions to unresolved societal problems, it contributes to the development of the social and solidarity economy. With their power to inspire and mobilize communities, elite athletes can play a key role in promoting high-impact entrepreneurship. Whether still competing or retired from sport, many top-level athletes are committed to developing initiatives that make a social and/or environmental impact (companies, associations, foundations, etc.), but lack the appropriate support to bring their ideas to fruition.
Description
The partnership between AFD and Paris 2024 is based on a shared objective: to harness the energy of the Olympic and Paralympic Games for the common good, by aligning the event with the Sustainable Development Goals.
The aim of the business incubator program is to select two cohorts of athlete-entrepreneurs (2021 and 2022) who will receive technical and financial support to make their entrepreneurial project a reality. The selected projects will address societal issues such as professional integration (in particular for people with disabilities or young people from disadvantaged backgrounds), gender equality, health, education, and protection of the environment.
The objective of this program is twofold:
- Utilizing the skills, values and commitment of athletes to help develop sustainable, high-impact business projects
- Facilitating the professional transition of athletes, providing them with a sound and sustainable future career
Within the scope of this project, AFD is financing the support of project leaders in Africa (16 athletes in the first cohort) and Paris 2024 is providing financial support for project leaders in France and overseas (10 athletes in the first cohort).
Impacts
- Enhancing the entrepreneurial skills of athletes and increasing their opportunities for professional retraining
- Supporting the creation of a Sport & Development ecosystem in Africa
- Promoting high-impact entrepreneurship in Africa
01/02/2021
Project start date
3 Years
Sectors
Africa
Financing tool
700 000
EUR
Ongoing
32 athlete project leaders in Africa selected from 2 cohorts (via a business incubator)
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News
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