Pangea, a 50,000 USD per startup accelerator has selected 11 start-ups companies for its first cohort in Kenya. The startups are drawn from Kenya-9, Egypt -1 and Nigeria-1 and were selected by a panel of experts from Innovation Norway, BDO EA, Mastercard Foundation and Longitude Finance.
“The initial expectation was that we would settle on 10 companies but we ended up with a list of 11. This is evidence that a good number of the start-ups made a strong business case. We were spoilt for choice” said Jane Save Ndungo, a senior market advisor at Innovation Norway.
Pangea has been running an acceleration program, in partnership with Liquid Telecom,@iBizAfrica among other partners, for 40 start-ups aimed at providing milestone-based capacity-building for 12 weeks.
Pangea plans to launch a crowd investment platform in June 2018, allowing accelerated startups further access to funding. This will provide most of the start-ups on the acceleration program to meet potential funders even though they do not appear on the current list of 11.
According to Pangea CEO Jonas Tesfu,” I have no doubt that investors will find good opportunities for investment based on the quality of businesses represented on the Pangea program.”
Founded by Africans in the diaspora, Pangea aims to engage the African diaspora in investing in African startups through its crowd investment platform.
Here are the 11 on the list:
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