A new Chinese-backed incubation platform, Project Falcon, has launched with a commitment to provide guaranteed funding for African entrepreneurs from the idea stage, addressing a significant gap in startup capital.

• The platform pledges $1.25 billion in total, dishing out $250 million annually over five years, and offers free office space and manufacturing linkages.
• Key figures include Wen Liu, chairman of Treadway Investment Bank, a backer, and Invasion Limited, the platform's funding partner.
• The first incubation hub opens in Sandton, South Africa, on July 1, with a Nairobi facility planned, aiming to support sectors like fashion, AI, and green technology.