In Tanzania, Seedstars World picks most promising Startup, set to visit Uganda
Nedfrids Africa emerged winner at the pitch held in Dar es Salaam on Thursday July 20, 2017 by Seedstars World. It will represent Tanzania at the Seedstars World Summit to be held in Switzerland, in April next year and compete for up to $I million in equity investment, among other prizes.
10 Tanzanian startups participated in the pitch (read news story here). The local winner, Nedfrids Africa, designed a mobile phone insurance solution, SimuBima, to reach as many users across Tanzania, using digital channels.
Seedstars World is travelling to more than 75 countries this year for its startup competition for emerging markets and fast-growing startup scenes, to identify the best seed-stage entrepreneurs and provide them with an opportunity to win up to $500,000 and network with investors and mentors from around the world.
According to Seedstars World, there will be a week-long bootcamp for all local winners going for the global summit while they pitch for the $I million equity investment on the final day of the summit.
Also, as part of the tour in the East African region, a pitch event is scheduled for Kampala, Uganda on Friday August 4, 2017 for 10 Ugandan startups to select the most promising startup to represent the country at the Seedstars World Summit. For the Ugandan round, the main partner and hosts are Stanbic Bank Uganda and Outbox Hub respectively.
Outbox Hub co-founder, Richard Zulu, whose company is collaborating with Seedstars World the fourth time said: “Together with Seedstars, we have been able to demonstrate to the local ecosystem that simplicity of solutions and businesses is key to driving entrepreneurship growth based on the teams that have represented Uganda. The Kampala event yet presents another opportunity for our local community to share knowledge and be part of the discussion on how to grow entrepreneurship in emerging markets.”
Companies interested in the Kampala pitch must:
– Not be less than 2 years old
– Have raised less than $500,000 in funding
– Have built a MVP (Minimum Viable Product) and gained traction
With its strong network of international partners such as BBVA, Merck, Enel, Trecc and Standard Bank, Seedstars World is looking for smart startups that solve regional issues and develop profitable products for the global market, to support its regional businesses and growth.
Again, at the same time, Seedstars World is working very closely with Enel Green Power to source the most innovative business models in the energy sectors and ones which foster socio-economic development in rural villages in Africa. Up to 5 best startups in this sector will be invited for an exclusive RES4Africa networking event taking place later this November in Nairobi to compete for an Africa Energy Prize which consists of a financial contribution and a three-month acceleration programme, for a total value of up to $50,000.
Deji Aroloye89 Posts
a graduate of Linguistics and a staff writer at Outrepreneurs, Deji's forte includes tech, startups and innovations. Years back, Deji wrote on Entertainment and Lifestyle for a tabloid. If he wasn't a writer, Deji would be a photographer or teacher.