Intensive support for managers for growth management. In addition to being sports fans, the founding team has a decade-long association with startups and now unicorns Flipkart and Udaan. The startup also has a network of agents, including PesaPoint in Kenya and Flash in South Africa, which enable users to purchase airtime vouchers from more than 750,000 physical points of sale. ScarabTech, which was founded in 2018, specialises in the development of small-scale and extremely efficient plastic-to-energy devices known as Beetles. These machines, which were created utilising specific software algorithms and design, heat plastic waste, creating a vapour that is then caught and reconstituted into carbon-neutral fuel that can power generators and engines. This GIIG funding has made all of this possible, the startup said. Across the east African region, only 10% of all funding for startups went to local founders, according to a 2017 study by Village Capital. JICA Business Funding for African Startups and Businesses Journalism and Media Innovation Reporting Grants in Africa KCDF Giving For Change Grants in Kenya LeadTech Grants for African Female Entrepreneur Loans and Grants for Small and Big Business MICF Business Grants in Malawi for Economic Resilience and Recovery Opportunity Desk Scholarship 2025 The program supports 10 to 15 African digital start-ups and gives them access to appropriate financing and expertise. Support, financing, co-working spaces, networking, etc. "Standard Bank has been a pioneer in leveraging blockchain to bring speed and transparency to our customer base across Africa. Some examples of successful exits include Stripe, which acquired Lagos-based startup Paystack for $200 million. 2022. Required fields are marked *. The firm has a very-early stage fund, Ventures at Zedcrest, that targets pre-seed and seed companies. Flat6Labs, an Egyptian accelerator, comes in at sixth place among Africas top investors. The company plans to use the new funding to launch a pan-African payment platform next year and grow its VoIP market share. Seed funding is also known as start-up capital, or seed investment. Rather than wait for traditional solutions, African entrepreneurs are using technology to digitise traditional industries such as banking, health, education, agriculture, etc. Duplo digitizes payment flows for African B2B enterprises, gets $4.3M seed funding, Africa-focused fintech Zazuu raises $2M to scale its cross-border payment marketplace, MoneyHash gets $3M to build a super-API for payment operations in Africa, Mideast. So far, our analysts have tracked over $200 million worth of disclosed fundraising deals. The fund, dubbed Knight Fund, is aimed at providing last-ditch follow-on capital access to local funding required to help startups consolidate on existing operations, growth and expansion, explained Zedcrest Capital, the Lagos-based principal investing firm and financial services group. They are awarded to entrepreneurs who can demonstrate growth and provide jobs. From the ashes, however emerged Tripesa, which is building infrastructure and logistics to help companies . African startups have great business ideas, but they need seed funding to get going. "Africas difficulties are compounded by the pandemic that has disrupted revenues, foreign direct investment, development assistance, remittances, trade, and tourism, and not forgetting the effects of war. It highlights that blockchain funding far outpaced all other sectors, 11 times. In the same month, it made history as the first Rwandan startup to get into the Techstars Toronto Accelerator Program. Undergraduate Scholarships for African Students Founded in 2017, this startup raised $1.1 million in seed funding. Opportunity Desk Scholarship 2024 Talk360 users make calls at a fee, with its platform built in such a way that only the initiator needs the app and internet a smartphone to make calls. Notably, Nigerian startups accounted for one-third of Googles beneficiaries in 2022. Opportunity Desk Uganda Local partners The management of the Digital Africa seed fund is delegated to AFD Groups local partners. Phd Scholarships for African Students 2023 Opportunities for African Entrepreneurs Sponsored Short Courses for Developing Countries 2023 Seed funding is meant to help the startup with its initial growth via product development and marketing research, the funds of which come from incubators, family members . Y Combinator, a US-based seed-stage accelerator, is a household name in Africas startup space. Save my name, email, and website in this browser for the next time I comment. It was founded by Jesse Ghansah and Barima Effah and is expected to launch in June 2021. It was founded by Jesse Ghansah and Barima Effah and is expected to launch in June 2021. Ronaldo v Messi: the last dance in Saudi Arabia or a fresh start? Weekly Economic Index: A bullish summit, a loan bailout, and the worlds longest subsea cable, Ethiopia has lost $410 million to a war-induced internet shutdown, Weekly Economic Index: Starlink in Nigeria, Seychelles tourism rebound and bigger layoffs at Amazon, My Pivot Journal: Stephanie Durugbors journey to becoming a product designer, My Pivot Journal: How Florence got her groove back learning to code. AFD Group is an active partner that combines long-term financing and technical and strategic assistance. Startups in French-speaking sub-Saharan Africa continued to lag their counterparts in the larger Anglophone markets but did attract more interest. Innovative start-ups/SMEs (health, biotechnology, environment, etc. Deadline: 20-Sep-2022 Primate Conservation, Inc. will grant seed monies or provide matching grants for graduate students, qualified conservationists and primatologists to study rare and endangered primates and their conservation in their natural habitat [ more] DRK Foundation's Seed Funding of $300,000 for 3 years Deadline: Ongoing South African batsman Amla announces retirement at 39, OECD sees revenue gains from new tax pact reaching $250bln, China is reshaping the Belt and Road Initiative ahead of a post-pandemic era. Ventures Platform has made over 60 investments since its launch in 2016. Start-up support structures (incubators, accelerators and hubs) to build their capacities and become more professional. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continents pioneers in this regard. Hes also a corporate governance and cross-border data privacy and tax expert. Phd Scholarships for African Students 2024 Barbee said the GIIG Africa investment will be used to help the business finalise the Beetle reference design and ready to commence commercial production by December 2023, based on the insights acquired from these projects. Currently focusing on cricket, Podeum is building an online community . Commonwealth Shared Scholarship 2025 From 55 startups successfully funded in 2015 to 359 in 2020, Africa appears to be at the dawn of a startup revolution, with the ecosystem growing at a 46% annual rate, which is six times faster than the global average, according to BCG. Opportunities for Youth In 2022, it was the seventh-most active investor in Africas startup ecosystem with 20 deals. Over $150,000,000 Opportunities for African Entrepreneurs The continent's tech economy is its stronghold Concluding the launch of the African Blockchain Report, Ian Putter, head of the Blockchain CoE&CA Training Office at Standard Bank Group, the largest African bank by assets, said: Africa matters. Once the company has its start-up funding, it will start growing fast and attracting customers. Tied at the top spot with Launch Africa, Google is also making giant strides in African technology. The money provided by angel investors and VCs will help the companies to scale their businesses. They use Launched in 2021 by Favour Ori, the Rwandan fintech is facilitating sending and receiving money globally from Africa. Now, we aim to expand our portfolio of real-world commercial projects, with partners like French-based Plastic Odyssey, a global expedition that uses our Beetle on their ship to show people around the world how to add value to plastic pollution. The Government of Canada is a newcomer to the top ten investor list, having closed 20 deals in 2022. World Bank Short Courses for Developing Countries 2023 Business Grants This non-dilutive $3 million fund is allocated across a pipeline of 50 investable startups in Africa. Support, financing, co-working spaces, networking, etc. Scholarship 4dev Scholarships for Africans Funding Opportunities for Entrepreneurs 2023 Seed funding for African startups can also be obtained through angel investors and VC funds. How Libyas petroleum sector is taking a tough route to democracy. African tech startups surpass 2021 funding total in H1 of 2022; $2.3bn raised 0 By Tom Jackson on July 14, 2022 African tech startups raised more funding in the first six months of 2022 than they did across the entirety of 2021, with total investment hitting US$2.275 billion. This event has impacted the surety and speed of African startups raising capital. "African economies are in danger of even further marginalisation due to macro trends towards economic deglobalisation. Although large Africa-focused funds such as TLcom, CAIF and Norrsken are well positioned to help startups in seed and growth stages, smaller funds such as Zedcrest Capital are necessary to act as a supporting cast by providing similar amounts of capital. Akiba Digital's longer-term plans are ambitious and worth keeping an eye on. Despite the continent witnessing more VC investments in H1 2022 compared to H1 2021 (an estimated $3 billion pumped according to several data trackers), it has yet to mint a single unicorn after eight months. Zedcrest Capital has invested in three startups in pre-Series A stages since it spun out this fund some months back, forking out between $200,000-$500,000 checks in the process. Yet in what happens to be the first time since at least early 2019, it briefly gave up the first place to Logistics & Transportation in the final . 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