BY TOM JACKSON
Seven African tech startups will compete in the Seedstars World regional finals next week for a place in the grand final and the chance to secure US$500,000 in equity investment.
The annual Seedstars World competition, which is taking place virtually for this cycle, received over 5,000 applicants from across the world, with 94 startups from emerging markets advancing to the regional stage.
Twenty startups have been selected for next week’s regional finals, where they will compete for a spot at the global final, where the grand prize is US$500,000 in funding. African startups Giraffe and AgroCenta are previous winners of the competition.
Those 20 startups, selected from different parts of the world, include seven from Africa, namely Nigerian fintech startup Ladda, Tanzanian food-tech platform Flamingo Foods, Ethiopian e-health service Rohobot, Ivorian information capturing platform Capture Solutions, Zambian fintech company Sparco, Egyptian e-commerce startup Al-Mawwan, and Tunisian logistics platform Fulfilment.
After the regionals, 10 startups will receive US$50,000 in investment as they take part in a one-month Investment Readiness Programme, before they go on to compete at the grand final for a shot at securing US$500,000 in equity investment.