VC4Africa, Africa’s venture capital community has today announced its new cohort of 10 top fundraising entrepreneurs for its September cohort aiming to raise between $10,000 and $1 million each after the three month session.
The startups include The Able Wireless Company, FastCashier, Kiro’o Games, LPM/L’Espace, Mellowcabs, MMABON’, Mobile Charging Kiosk, My eCampus, Rethink Education, and Save & Buy.
Seeking to raise between $10,000 and $1 million
VC4Africa will work with the above startups for three months to strengthen their business cases and introduce them its Africa Investor Network, the largest network of African SME focused investors.
Coming from across Africa, the 10 require investments between $10,000 and $1 million.
The startups went through a rigorous screening process with the final selection done by a selection committee comprised of Victor Asemota of Afrinnova, Lot Carlier of African Media Ventures Fund, OryOkolloh of the Omidyar Network, Sean Smith of Invested Development, and Samuel Ssenyimba of LGT Venture Philanthropy.
“We saw some promising opportunities, that with the right support and mentoring, will be able to refine their business model and better highlight their unique selling point. There is potential to attract some key early stage funders”, says selection committee member Samuel Ssenyimba. He also has a suggestion for the entrepreneurs: “Keep things simple so that interested parties are easily able to grasp the business preposition. Focus is key.”
The next cohort is scheduled to be announcedDecember 2013. In the meantime, entrepreneurs can still apply to raise funds on VC4Africa, make use of VC4Africa’s Mentorship Marketplace, access free online tools, and progress on the 5 steps to fundraising on VC4Africa.
Venture capital platform VC4Africa connects top investors from around the world with quality entrepreneurs in Africa. The platform has seen over $2 million raised in funding, and members have secured joint ventures and investments in countries all across Africa.
If VC4Africa maintains these pace, don’t you think they will raise funding for every viable startup in Africa?