Unreasonable East Africa has began its first ever annual search for startups tackling East Africa’s greatest social and environmental challenges.
The Institute unites two-dozen entrepreneurs from every corner of East Africa each year to live under the same roof for five weeks in Kampala, Uganda. There, they receive training from 50 mentors and form relationships with dozens of potential investors. For the first year, Unreasonable East Africa will be accepting applications from only Kenya and Uganda.
Unreasonale East Africa is founded on the similar principles like the Colorado-based Unreasonable Institute which has incubated 82 companies which have raised over $30 million in funding.
According to Joachim Ewechu, CEO Unreasonable East Africa, “East Africa boasts hundreds of startups that open shop each year.Many of them, however,fail due to a lack of experience, resources, tools and connections before they reach profitability. “We exist to help startup entrepreneurs to get over these hurdles.”
The Unreasonable Institute aims at opening 100 institutes in 100 countries, The East African institute is part of that pilot. Then later the institute aims to open another institute in Mexico. 10-15startup ventures will be selected for a five-week acceleration course in the summer of 2014.