According to a recent research, the biggest obstacles facing entrepreneurs in Nigeria’s startup ecosystem are talent, money, and regulatory constraints. The report “A Decade of the Nigerian Venture Ecosystem: Numbers, Insights & Stories,” published by the Lagos-based venture law firm TLP Advisory, offers an examination of the startup scene in Nigeria, highlighting the expansion, difficulties,…
Fifteen firms, groups, and individuals were selected winners at the African leg of the Global Startup Awards (GSA), and they will now go to the global final. Global Startup Awards (GSA) Africa, in conjunction with the Global Innovation Initiative Group (GIIG), recently announced the 15 African winners during the GSA Africa Finale in Cape Town,…
The third edition of Visa’s biennial Africa Fintech Accelerator, which gives businesses access to resources, industry connections, and mentorship to help them develop their creative solutions, has chosen 19 entrepreneurs from throughout the continent to participate. The Africa Fintech Accelerator was started in 2023 in accordance with Visa’s commitment to invest $1 billion USD in…
AfriLabs and the African Union (AU) have chosen 19 innovators from over the continent to participate in the second iteration of the AU Digital and Innovation Fellowship Program, which aims to use innovation and technology to promote socioeconomic development throughout the continent. The goal of the ground-breaking 12-month AU Digital and Innovation Fellowship Program is…
The 14th Orange Social Venture Prize (OSVP) in Africa and the Middle East has awarded cash prizes to five African startups. Since 2011, Orange’s strategy to support the expansion of the entrepreneurial ecosystem and the inclusive development of the nations in which the Group operates in the Middle East and Africa has been centered on…
The Growth4Her Accelerator initiative, which attempts to close the gender finance gap in Africa, is open to female entrepreneurs in Nigeria. The six-month Growth4Her Accelerator gives female entrepreneurs the skills and resources they need to build their companies from tiny to growth-stage companies that can be funded. The fourth cohort of the investment-readiness program is…
The Harvard Business School’s Africa Business Club is accepting applications for its New Venture Competition, which gives entrepreneurs the opportunity to earn up to $55,000 in cash prizes. In an effort to highlight the variety of entrepreneurs making an impact on the continent today, the student-run Africa Business Club will hold its most recent annual…
The first-ever Africa ICT Summit Awards have been unveiled by Africa Tech Summit as a new platform to honor the continent’s most creative and influential ICT firms, executives, and solutions. At the annual Africa Tech Summit in Nairobi, where the continent’s leading innovators, entrepreneurs, and business executives come together to discover, network, and invest in…
Ten startups and ten scale-ups are among the twenty African digital businesses that have been chosen to present at the Angel Fair Africa event, which will take place in Nairobi, Kenya, on November 7–8. In addition to Johannesburg, Lagos, Accra, Nairobi, Abidjan, Maputo, Dar es Salaam, Mauritius, and Cape Town last year, Angel Fair Africa…
The Sterling Bank Green Innovation Challenge, which is providing award financing to projects in the cleantech, social enterprise, or agriculture sectors, has extended an invitation to Nigerian startups to apply. Those developing startups, SMEs, or other business models centered around innovation, sustainability, and environmental change are eligible to apply for the Sterling Bank Green Innovation…
STEP, a leading initiative dedicated to empowering startups across Nigeria, partnered with StartupSouth9 to host the STEP x StartupSouth9 Event on October 3rd to 4th, 2024, in Port Harcourt. This collaboration aimed to strengthen the South-South and South-East regions by connecting startups with essential resources, including growth strategies, funding opportunities, and mentorship. The event reached…
Green Innovation Challenge (GIC) 2024: Encouraging innovation by providing access to capital. GIC is committed to making capital accessible to cooperatives, social companies, MSMEs, SMEs, and startups that are promoting innovation and good environmental change. It is intended to connect you with the resources you need to scale operations, create a lasting effect, and realize…
Unconventional Capital, a EUR30 million (US$33 million) fund, has been established by early-stage African investor Uncap with the goal of offering non-dilutive, revenue-based financing to early-stage small and medium-sized enterprises (SMEs) throughout Africa. Through its unique, revenue-based financing model, Uncap has invested in early-stage African SMEs since its founding in 2019 and official launch in…
TechNvst, a prominent innovation commercialization firm based in South Africa, has announced an exciting new collaboration with Microsoft through the African Transformation Office (ATO) to launch the TechNvst AI Startups Uhuru Program. This new initiative is set to transform the landscape for AI-focused startups across Africa by providing them with essential resources and strategic support….
Nigeria’s Itana, a digital free zone driving Africa’s digital economy, has partnered with Accelerate Africa in a strategic relationship to give up-and-coming companies the resources, connections, and on-the-ground assistance they need to grow and address major issues around the continent. With the Itana digital zone, which offers a one-stop shop for establishing operations in Nigeria…
Grow is a 12-month program for advanced African businesses that prepares them for funding. GROW, which was created in partnership with AfricaGrow, BPI France, Go Ventures, and Africinvest Group, was designed to assist African firms that have funded up to $350,000 and are hoping to raise a million dollars and grow into new markets. A…
The Anzisha Prize, which honors champions for their capacity to successfully develop their businesses, has recognized four African entrepreneurs as its winners. Recently, in Johannesburg, South Africa, the annual Anzisha Prize final was held. Mathias Yabe, Nzinga Antonio, Sharon Alyorneku, and Ivo Bonfirm became victorious overall. In addition to receiving US$10,000 apiece, the winners get…
The African startup ecosystem is experiencing unprecedented growth, with innovations spanning across education, finance, agriculture, technology, and B2B sectors. In 2023, despite global economic challenges, African startups raised $2.4 billion in funding, demonstrating the continent’s resilience and potential. As these startups scale and seek to make a global impact, one critical factor often overlooked is…
In today’s fast-paced world, young adults juggle commuting to demanding jobs, managing side hustles, and maintaining personal lives. With the economic realities affecting transportation and fuel costs, grocery shopping has become increasingly expensive and time-consuming, often leading to unhealthy eating habits. There is a clear need for a technology-powered solution to help people cut costs,…
Africa’s fast-moving consumer goods (FMCG) supply chain is broken due to numerous factors. High logistics costs, market fragmentation, and inefficiencies are often highlighted as the major culprits. Informal retailers, unable to purchase products in high quantities, rely on sub-distributors, wholesalers, and even sub-wholesalers, increasing the supply chain length and cost. This system also hinders manufacturers’…
Nigerian startup Skill Up With Kahdsole (SUWK) is a cutting-edge ed-tech platform that offers easily accessible, market-driven vocational education and assistance with job placement through an extensive online ecosystem, tackling the pressing concerns of youth unemployment and skill shortages. SUWK was established in 2021 by Chioma Ukpabi and Kelvin Steve, a couple who are passionate…
Risk-taking, those large bets made early on as startups to differentiate themselves from the competition, is the foundation of all prosperous organizations. After they are established, businesses usually strive to capitalize on their newfound size while maintaining this spirit of entrepreneurship. The issue is that risk aversion frequently accompanies progress. Even though many big businesses…
Co-creation Hub Nigeria (CcHUB) today announced the selection of twelve innovative EdTech start-ups to join its second cohort of the Mastercard Foundation EdTech Fellowship. Launched in 2023, the Mastercard Foundation EdTech Fellowship at CcHUB provides industry support and funding to empower start-ups driving change in Africa’s education landscape. The Mastercard Foundation EdTech Fellowship will provide…
NBA Africa is now accepting applications for Triple-Double, an accelerator program designed to give financial awards and other forms of support to early-stage African entrepreneurs. Triple-Double, run by tech incubator ALX Ventures, targets early-stage African businesses creating products in the areas of youth development, artificial intelligence (AI), digital marketing for sports and creative industries, and…
Early on The Pitch2Win competition, in its second iteration, is open to Nigerian companies and gives up to $10,000 in prize money in addition to the opportunity to visit Japan. Techcircle, in association with Freakout, SGverse, and SGgrow, is the presenter of Pitch2Win. On June 12, ten eager companies will have the opportunity to present…
Startups come into existence for the purpose of solving a particular problem in the society. Every startup aims to be a worthy investment in the eyes of its potential investors. A startup’s business end goal, is to be valuable and have the ability to always connect to its end users. What is a startup business?…
The IFC today released the names of 100 women-led business entrepreneurs who have been chosen to participate in the She Wins Africa project. This IFC-led project aims to increase access to funding for women-led enterprises in Sub-Saharan Africa. According to a statement shared with Technect, the She Wins Africa program is part of the IFC’s…
Applications of artificial intelligence, climate technology, and spatial computing are among the latest projects that Y Combinator is looking to support. The list was released on Wednesday. In the most recent iteration of its RFS, or “Request for Startups,” tradition, which dates back to 2009, the organization made a call for the kinds of startups…
10 businesses—five of them from Africa—have been chosen to participate in Startup Boost, an international initiative for social impact entrepreneurs managed by the tech consulting firm tretton37, based in Sweden. Tech consultancy firm tretton37 works with Telia, Klarna, Paradox Interactive, Tibber, and ICA, among others. Launched in late 2023, Startup Boost provides free assistance to…
It was a challenging year for tech entrepreneurs in Africa. As previously projected, obtaining venture funding proved to be challenging; bridge and down rounds were commonplace; and rumors of fire sales, layoffs, and business closures spread over the continent. Startups and scale-ups in Africa have experienced far-reaching implications as a result of the overall amount…