Five African startups have been awarded US$5,000 each in grant funding from the Southern Africa Innovation Support Programme (SAIS) and Seedstars, a private Swiss-based tech company.
The startups have been selected after completing the Investment Readiness Programme (IRP). a startup education initiative that enables participants convert their ideas into sustainable tech solutions. Run by Southern Africa Innovation Support and Seedstars, the Investment Readiness Programme 2019-2020 selected 15 startups with SDG-focused tech solutions and provided them with tools and knowledge that brought their solutions closer to being investment-ready.
The goals of the programme are to increase funding received by early-stage startups in the Southern African Development Community (SADC), to improve the quality of entrepreneurs in the region and save time for investors and founders during the fundraising process.
The program has focus on ten African countries, namely Botswana, Namibia, South Africa, Tanzania, Zambia, Angola, Democratic Republic of Congo (DRC), Malawi, Mauritius, and Mozambique.
The Investor Roadshow was held after the readiness programme, where the participating startups had the opportunity to present their companies and meet with potential investors interested in their business. Five startups were then selected to receive the US$5,000 grant, sponsored by SAIS.
The five startups chosen include Zambian fintech startup Mangwee, TanzanianFMCG distribution platform SUMET, Mozambican city planner app UBI, South African legal information service Luma Law, and the DRC-based Astech-Congo, which allows users to stay connected to their school or university.
Contestants will take part in networking and ecosystem strengthening activities and educational programmes to bring their ideas to fruition This is the best program for startups that are at a growth stage and ready to scale.
Participants will take part in networking and ecosystem strengthening activities and educational programmes to bring their ideas to fruition. This is the best program for startups that are at a growth stage and ready to scale.