Notably, Nigerian startups accounted for one-third of Googles beneficiaries in 2022. Grants for African Entrepreneurs 2023 Masters Scholarships for Developing Countries Context In May 2018, during the Vivatech Digital Rendez-vous, the French President, Emmanuel Macron, announced a French commitment of EUR 65m for African start-ups and the launch of the Digital Africa initiative. Mercy Corps relies on the operational capacities of Suguba, which will implement investment preparation programs. Funding Opportunities for Journalists 2023/2024, Scholarship 2023/24 Share this: Mareme Dieng, 500 Startups Lead, Global Innovation Strategy, Africa shares 500's vision for Africa. Early-stage venture capital firm Microtraction, which invests in African tech startups at the pre-seed stage, has announced a US$15 million first close of its second fund, counting a number of established African tech startup founders among its LPs. Call for Proposals - Can Technology Accelerate Learning and Skills? Dakar-based Mobile money provider Wave became the first Francophone African startup to be valued at over a billion dollars in 2021 on the back of a $200 million raise but cut its staff by 15% in a challenging 2022. Marketforce, Mono, PiggyVest, RelianceHMO and Nomba are some notable names on its portfolio. Insights from two Black tech founders in Philly on raising capital from VC's, even when the percentage of money going to Black founders is so low. 2022. Scholarships for Developing Countries 2023 But Algeria and Tunisia also feature in the top 10, the former boosted by a $150 million round by Yassir, one of a few African startups aiming to build a WeChat-like super app. Digital Africa funds Under this initiative, Agence Franaise de Dveloppement (AFD) is making the EUR 15m Digital Africa seed fund available to innovative African start-ups. Scholarship for Developing Countries 2025 Startup Grants 2023 Application Deadline: May 31st, 2022. Commonwealth Shared Scholarships 2023 This way, we can be sure of the relevance of facts from which we can benchmark forward. 2023 Grants for Small Business in Nigeria World Bank Scholarships for Developing Countries With its tiered model, targeting pre-seed, through two successive tickets in the startup according to the stage of development, Fuz is today a unique model on the continent. So far, our analysts have tracked over $200 million worth of disclosed fundraising deals. 8. Advance Africa Scholarships 2023 Short Course Scholarship for Developing Countries 2025 As a result, innovation is blessed with a clean slate on which to paint, and progressive advances seem to follow. Scholarship for Developing Countries in Engineering Business Grants in Kenya 2025 Available free as part of an open-sourcing initiative with industry partners, alongside the full list of 481 Nigerian tech startups. Okra This Nigerian fintech startup needs no introduction. Startup Grants 2024 Opportunity Desk 2024 As a result, early investors in these companies are rewarded with lucrative exits. Grants for Startups in Kenya 2025 ), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. Duplo digitizes payment flows for African B2B enterprises, gets $4.3M seed funding Africa-focused fintech Zazuu raises $2M to scale its cross-border payment marketplace MoneyHash gets $3M to. Ronaldo v Messi: the last dance in Saudi Arabia or a fresh start? There were notable milestones outside the top 10, like in Sudan where payments platform Bloom became the countrys first startup to participate in the Y Combinator accelerator program, subsequently raising $6.5 million seed money in a round co-led by payments giant Visa. Its portfolio contains many popular startups, such as Flutterwave, Wave, Union54 and Releaf. Kenya: Call for Applications for Startup Grants So if a startup has a short runway, you need someone who can give you money and will not take five months to make a decision, added Amzat referencing his funds capacity to fill in this need. Undergraduate Scholarships for African Students 2024 Sign Up Now for funding emails Business Grants in Kenya 2023 And for those writing, theyre going back to 2018 times where they take months for due diligence. PhD Scholarships for International Students - Fully Funded! Most notable in the report is the evidence of the brilliant mindset, energy, and tech capability of the many great founders who are leading the African blockchain revolution in a manner that is exemplary to the rest of the world. While the specific amount of the investment has not been published, it represents the company's first equity-led round following . Grants for African Entrepreneurs 2024 December 20, 2022 Nigeria's Forceful Digital Money Push Is Making Its 'Unsung Heroes' Nervous; My pivot journal: Chief Veras evolution from dentistry to content creation, Creating innovative solutions for seamless transactions in Sierra Leone and beyond, How MITs Senseable Lagos Lab will drive innovation to the African tech industry, Ten notable female entrepreneurs in Southern Africa. With its Digital Africa seed fund, AFD is supporting four programs to assist and finance digital start-ups right from the start of their activity. Will privatisation rescue Kenyas national carrier? Odusote Mayokun. Crypto Valley Venture Capital (CV VC) has announced the launch of its African Blockchain Early-Stage Fund and published the inaugural African Blockchain Report which provides a compelling structural overview of the emerging blockchain sector and rousing insights regarding its funding. Last year, top investors such as Tiger Global, SoftBank and Sequoia Capital put several million dollars into African startups, especially unicorns, in what was a boost to the continents local ecosystem. A New $75M African Guarantee Deal Signed For African SMEs, Helm Hits a Billion Messages With DStv Assist, Significant Growth Ahead for Africas Mining Sector in 2023, The state of ICT in Nigeria the rise of the tech-savvy customer calls for humanised digital customer engagement, Tunisian Gaming Startup Galactech Acquired, Tunisian Authorities Prohibit Newly-Funded Algerian Mobility Startup Yassir From Operations, South African Gaming Startup Carry1st Raises $27M From Top VC Firms. Phd Scholarships for African Students 2024 The startup also has a network of agents, including PesaPoint in Kenya and Flash in South Africa, which enable users to purchase airtime vouchers from more than 750,000 physical points of sale. This support mainly targets start-ups financed by AFD Group via PROPARCO & FISEA and addresses the following issues: Consult the list below to see the local partner incubators and find out more about the services available (financing, mentoring, training, etc.). The Catalyst program is led by the ABAN and Afrilabs consortium. The talk of the town is that African startups are feeling the pressure of the global market downturn and venture capital slowdown as these international investors pull out term sheets and cut back the number of rounds previously earmarked for the region. ABAN was set up in early 2015 to support the development of networks of investors across the continent. The AFD Digital Challenge is an annual competition which rewards five to ten start-ups that have developed innovative solutions for Africa. Most startups will raise a seed funding round within their first three years of operation. ), Mali, Cte d'Ivoire / Ivory Coast, Ghana, Tunisia, Senegal, Egypt, Kenya, Morocco, Democratic Republic of Congo, Uganda, Nigeria, Guinea, Burkina Faso, North Africa, Financing in early stage and growth $1 $10M. They use Scholarships for Developing Countries in Africa This financing mechanism for African start-ups in their seed phase complements all the tools available to accelerate the growth of small and medium-sized enterprises. But Ventures Platform will likely beat this number this year because it recently closed a $46 million fund. These grants are offered to entrepreneurs in the country, regardless of their industry or country of origin. Scholarships for Developing Countries 2024 Besides, the UN Challenge, which will support a changemaker, is also an important source of capital for African startups. Dean Hiine, the startups co-founder and managing director for Africa, told TechCrunch that existing digital payment methods in Africa are scattered and some involve lengthy and complex processes, affecting its conversion rate. Google want to bridge the existing fundraising gap for Black startup founders in Africa's fast-growing technology landscape. Eden Care, a licensed Rwanda-based digital insurer which offers affordable, accessible and personalized health coverage to businesses and their employees, has completed a pre-seed funding round from DOB Equity , Seedstars International , Norrsken Foundation, and Bathurst Capital. The Hague Institute for Innovation of Law (HiiL) is currently accepting applications for the 2021 Innovating Justice Challenge, it is calling to all game-changing justice startups that want to grow their impact and business. Minly Egypt's Minly has created a quirky offering for the MENA region, allowing users to buy personalised video messages and shoutouts from their favourite celebrities. 2023 Opportunities for Africans Opportunity Desk India Uganda dfcu Bank Partners CR2 for ATM, Card and Payments Platform, This round of equity-led investment is a significant achievement for the team and will help us prove out our technology for global distribution. Commonwealth Scholarship Application Portal Commonwealth Shared Scholarship 2025 CV VC, as an initiator of Crypto Valley - the world's most mature blockchain hub, with an enviable regulatory landscape and 14 blockchain unicorns - intends to lend its renowned expertise to enable Africa, the world's second-largest continent in both size and population to achieve its true potential. Foreign investors have been dominant contributors to Africas numbers since 2015. Previously we were angel funded between 2018 and 2022, notes Jeffrey Barbee, co-founder and chief executive of ScarabTech. Image Credits: Zedcrest. Among the 25 Business Grants for African Entrepreneurs and Startups listed below you will find good funding opportunities for Africans. "African economies are in danger of even further marginalisation due to macro trends towards economic deglobalisation. The Mauritius-based VC closed 60 deals in 2022, averaging more than one deal every week. But were not just solving socio-economic issues: Were also offering micro-entrepreneurship and income generating opportunities to our growing network of agents across the country.. The funded start-ups benefit from capacity building via external technical assistance. Scholarship for Ethiopians It highlights that blockchain funding far outpaced all other sectors, 11 times. Powerful Motivational Quotes for Students Success Quotes English Short Stories for Kids, Cabin Crew Jobs & Career Advice Secretary Job Description Receptionist Job Description Top 100 Interview Questions and Answers How to Prepare for an Interview How to Write a CV How to Choose a Career Computer Shortcut Keys and their Functions, #1 Best Opportunities for Entrepreneurs Website The African Business Angel Network (ABAN) is a pan-African non-profit association. PAP Innovation Showcase 2023 For Climate Tech Startups (Up TO $10,000) https://lnkd.in/dUV6e87W Deadline: April 1, 2023 This is a global open call for climate and nature tech . Short Term Training Scholarship for Developing Countries 2025 Antler 4. Many will also remember 2022 as the year of, Ventures Platform has made over 60 investments since its launch in 2016. Financial institution dedicated to boosting the contribution of the private sector to the sustainable #development goals. The strong need to structure and build the expertise of these companies in a hyper-growth phase (governance, HR structuring, retaining and attracting talent, implementation of management systems). Opportunities for Youth in Africa Catalyst is a multi-stakeholder initiative that aims to increase the capital reserve available for promising African entrepreneurs in the growth phase, and to support the start-up ecosystem, including hubs and the business angel networks. They are all experts in supporting and financing digital technologies. (EUR 15,000 in cash funding) By OFA - septembre 7, 2022 Application Deadline: November 12, 2022 ASIP is a program launched by Telecel Group as part of CSR activities. ScarabTech, a cleantech start-up, is planning many commercial projects in Africa, Asia, and Australia as a result of a seed funding round from GIIG Africa Fund, a profit and purpose fund. A digital tech boom is happening across Africa. Below is the list: The largest funding round $8.7 million went to Paebbl, a Scandinavian startup that combines captured carbon with abundantly available minerals to create a carbon-negative raw . Our mission is to bridge distance and connect lives by offering reliable, affordable and easy-to-use digital services, delivered in a localised manner to all communities, particularly emerging countries, so they can connect to the world, said Hiine. Fully Funded Youth Opportunities 2023 Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africas burgeoning tech startup industry. AFD Group is an active partner that combines long-term financing and technical and strategic assistance. African Scholarships for Undergraduates Briter Bridges: African startups raised $4.9 billion in total estimated funding $4.65 billion disclosed and about $300 million undisclosed. Fully Funded Youth Opportunities 2025 The company said its internet calling app has connected 2.3 million people worldwide so far this year, and attained 167% growth in customers and 130% in revenues. The fund is open to all startups that meet the criteria, with priority given to Google for Startups Accelerator and Partner program alumni. This non-dilutive $3 million fund is allocated across a pipeline of 50 investable startups in Africa. Scholarship Opportunity for Africans Desk Along these lines, we identified at least seven companies that collectively raised over $25 million in seed funding in the past four months. Grants for Entrepreneurs 2024 Tied at the top spot with Launch Africa, Google is also making giant strides in African technology. Nigerian Tech-enabled Furniture Startup Taeillo Raises $2.5M New Funding. CV VC has a proficient team on the ground, including Gideon Greaves, who today said: As a Swiss headquartered company, CV VC holds great value in precision and knowledge sharing as drivers of innovation. All rights reserved. Funding Opportunities for Entrepreneurs 2023 This is what CV VC intends to do with other drivers in Africa, said Mathias Ruch, co-founder of CV VC. Commonwealth Scholarship 2025 Across the east African region, only 10% of all funding for startups went to local founders, according to a 2017 study by Village Capital. AFD works with 4 partners that are experts in supporting and financing digital innovation in Africa: the consortium made up of the African Business Angels Network (ABAN) and AfriLabs, the Greentec Capital Africa Foundation, the association Entrepreneurs & Dveloppement, which draws on the capacities of the Investisseurs & Partenaires group, and the Mercy Corps Europe Suguba consortium. Global Founders Capital is a great source of seed funding for African startups. 20 Business Grants for African Entrepreneurs and Startups Funding Opportunities for Entrepreneurs 2025 Opportunities for Nigerians 2023 Opportunity Desk 2023 Business Grants All rights reserved. Your email address will not be published. Scholarship Postions He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc. Short Term Training Scholarship for Developing Countries 2024 African Startup Funding Tracker. Grant Opportunities for Entrepreneurs 2025 Commonwealth Shared Scholarship 2025 Prospectus From 55 startups successfully funded in 2015 to 359 in 2020, Africa appears to be at the dawn of a startup revolution, with the ecosystem growing at a 46% annual rate, which is six times faster than the global average, according to BCG. Masters Scholarships for African Students 2025 In 2022, it was the seventh-most active investor in Africa's startup ecosystem with 20 deals. Proverb Stories The African tech ecosystem has shown impressive growth in the last decade, and many investors want to have a seed in this thriving ecosystem. Founders Factory Africa closed 18 deals in 2022, ranking it ninth among Africas top investors. After backing market leaders like Kuda and MarketForce, the VC has been aggressively spreading its bets among pre-seed, seed and series-A startups across Africa. Most of these businesses, seeing how their pre-seed and seed valuations dont meet current market conditions (some of these deals commanded between $10-$30 million valuations last year), are either raising at flat rounds or down rounds. 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Youth Hub Africa 2024 Opportunity Desk Scholarships 4 Dev Zedcrest Capital has invested in three startups in pre-Series A stages since it spun out this fund some months back, forking out between $200,000-$500,000 checks in the process. The Pan-African VC closed 34 deals in 2022, making it the fifth-most active investor for the year. African startup funding broke new records in 2022 reaching $4.8 billion, according to data from startup tracker, Africa: The Big Deal. Despite the continent witnessing more VC investments in H1 2022 compared to H1 2021 (an estimated $3 billion pumped according to several data trackers), it has yet to mint a single unicorn after eight months. Seedstars Africa Ventures is an early-stage venture capital fund investing in high-growth companies active across Sub-Saharan Africa. The Nigerian Startup Ecosystem Report 2022 from Disrupt Africa dives into the Nigerian ecosystem by analysing active startups, local support networks, and funding and exit activity over the last 7.5 years. AUC Venture Lab 5. Scholarships for Developing Countries 2025 These grants are applicable to not just already existing business owners alone but individuals with innovative business ideas. Nigerias fintech unicorn Flutterwave and Kenyas B2B retail platform Wasoko each raised over $100 million for the top spots on the leaderboard. If successful, seed funding for African startups can yield a decent return. So, if you haven't yet started to apply, here is a good place to start learning about them. Opportunities Desk Commonwealth Scholarship 2024 Free Grant Money For Anything in Africa. The silver lining has been the self-fast-tracking of Africas digital and tech economy. Unesco Scholarships for Developing Countries Pre-seed funding is designed to help a startup get off the ground and typically comes from the founder of the startup and any close friends, family members, and supporters. Save my name, email, and website in this browser for the next time I comment. If not, they can cease to exist for instance, Kenya-based food startup Kune. Opportunities for Youth They receive a EUR 20,000 award and a year of support to continue and implement their project. This GIIG funding has made all of this possible, the startup said. The new funding brings the total seed amount raised by the startup to USD 7 M. . With data in and around blockchain in Africa still scarce, the first Africa Blockchain Report will be an important milestone. As a result, global startup funding was slow. Undergraduate Scholarships for African Students 2021 Innovating Justice Challenge: 10,000 Non-equity Seed Funding. 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