GSMA Innovation Fund: African startups can secure £250K in equity-free investment
The GSMA Ecosystem Accelerator Innovation Fund has opened applications for the 3rd round of its accelerator where startups from Africa and Asia can secure up to 250,000 GBP in equity-free funding.
Startups from any sector that are at the post-revenue stage, and using mobile technologies such as big data analytics, SMS, mobile money, IOT, USSD, and IVR to solve local challenges can apply for the programme.
The selected startups will receive mentoring from experts and have access to potential partnerships that can help them scale their products and services into sustainable businesses with positive socio-economic impact. “The objective of the fund is to establish partnerships between mobile operators and startups in order to increase the reach of innovative mobile services to low-income citizens,” says GSMA.
“For the third round, the fund will be supporting start-ups willing to work with mobile operators. The fund is sector-agnostic and open to post-revenue start-ups using mobile to solve local challenges in Asia-Pacific and Africa,” the fund added.
The eligibility criteria for interested startups include having active users and revenue in at least one market, as well as clear and measurable socio-economic impact targeting low-income citizens, rural populations, women and /or youth. They must also be registered or operating in the country of project implementation.
The GSMA Ecosystem Accelerator Innovation Fund is supported by the UK Department For International Development (DFID), the Australian Government, and the GSMA.
The deadline for submission of entries is 15 April, 2018. Interested startups can get more information about the programme here.
Deji Aroloye91 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.