Continental Renewable Energy and Wanda Organic on Friday emerged top to receive $50000 and $25000 seed investment respectively after a 16 week intensive training At the GrowthHub.
Apart from the cash investments, the two also received expert advice.
Continental Renewable Energy Company manufactures composite roofing tiles and fencing posts from recycled plastic waste using patented processes while Wanda Organic helps farmers in Sub-Saharan Africa to improve food security and economic growth by contributing to soil fertility using their organic fertilisers.
Continental Energy was founded by Dr. Aghan Oscar while Wanda Organic was founded by Marion Moon. The two on December 6th pitched before a Venture Forum marking the end of our program. They were selected by their peers as the best two from the whole group thereby receiving a total investment of $75,000 investment from both GrowthAfrica and Village Capital.
They are part of 13 startups under Growthhub’s Innovation to Impact Programme 2013 and the 11 startups under the Idea to Innovation Programme 2013 done in partnership with Village Capital to help entrepreneurs move from having a product or service, to building a business to support the effective and continuous delivery of it to the identified target segments.
According to Growthhub, the Idea to Innovation Programme is a programme that is tailored for those entrepreneurs and their start-ups who have already come up with an idea, have validated this idea and want to take it to the next level of developing a product or service and also piloting this to the targeted market.
The Programme is a living lab at The GrowthHub; bringing together like-minded entrepreneurs together from diverse backgrounds and ideas to work together in the same environment for 16 weeks (4 months). It is a resident programme, filled with working days where specific topics are discussed every week.
The programme invites 12 start–ups with mature ideas to work with the facilitators, mentors, entrepreneurs in residence for 8 weeks to evolve these into concrete products and services and then plan a pilot/test of this to attain a proof of the concept, while collecting enough information to validating key market and customer assumptions.
5 start –ups are selected towards the end of the program and provided enough resources to execute their pilot/test over an additional period of 10 weeks.The structure of the programme provides them with the tools they need to successfully build and test their products and services into the market. Also looking at the bigger picture and long term plan of how they can be successful.
Taken through 2 day workshops spread over the 12 weeks, the entrepreneurs were exposed to a carefully selected group of mentors, experienced entrepreneurs, speakers and facilitators who offered them the opportunity to sharpen their skills in managing and running their start-ups while maintaining innovation.