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    The hunt for Africa’s next Tech Startup

    Start-ups in Africa have been called to submit their applications for a chance to pitch at this year’s Africa Startup Summit. At the 3 day programme, 10 start-ups get the chance to pitch before an audience of over 400 investors, corporate partners, and business accelerators.

    The summit which is set to hold in Kigali between February 13th-15th, will focus on encouraging collaborations, and creating connections between investors, corporate stakeholders and start-ups. Selected start-ups will further be privileged to attend other events such as “The Future Summit and Creative Summit”, and take part in the wide variety of workshops, discussions and networking sessions taking place over the three days.

    With a rise in the number of many businesses across Africa, start-ups and SMEs are said to account for over 60 percent of the continent’s business to business spending. Start-ups in Africa are reported to have raise 195 million USD in 2017.

    These African businesses are driven largely by the imaginative, innovative and instant impact on the region emanating from global, national or local problems becoming critical force to reckon with in different sectors. Start-ups alongside SMEs have emerged key employers in Africa as over 70% of Africans work for these businesses.

    These startups that forms the private sector are also widely recognized by the international community as an engine for sustainable development and inclusive growth. The African Development Bank (AfDB), the premier financial development institution in the continent, identifies private sector development as one of its fundamental areas of focus to reduce poverty and support sustainable growth in Africa. The Bank continues to make significant investments to stimulate private sector growth in Africa.

    Applications are open to African tech-enabled startups operating in any/all fields as it closes 11th, Jan, 2019. However, applying, startups must be less than five years old, have at least a minimum viable product, ideally with existing traction, have raised less than USD$1 million in external funding.

    The post appeared first on Ventures Africa.

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