AFRICA – The Meltwater Entrepreneurial School of Technology (MEST), a pan-African seed fund and incubator has invested a combined US$700,000 in seven tech startups formed by graduates from its entrepreneurial training programme.
MEST runs an annual training programme for technology entrepreneurs in Africa providing critical skills training in software development, business and communications.
Launched in 2008 and Headquartered in Accra, Ghana, the organization invests in the most promising startups formed by its graduates.
Its 12th edition, featured a cohort of 54 entrepreneurs from all over the continent, and culminated in MEST announcing it has invested US$100,000 each into a total of seven startups after 15 teams pitched their ideas at a virtual demo day.
The startups that received funding included food delivery startup Ghanaian Heny, Ghanaian retail-tech platform Shopa, and Nigerian e-wallet service Joovlin.
Others include Ghanaian cloud-based monitoring and evaluation platform KPI Lens, customer on-boarding platform Kenyan Eleka, delivery service Ghanaian Boxconn, and Ghanaian reselling service Tendo.
MEST managing director Ashwin Ravichandran revealed that they were blown away by the perseverance and talents seen in the entrepreneurs this year.
Unlike the previous training programmes, MEST was forced to conduct its training virtually and away from our campus due to the corona virus pandemic.
“We are incredibly excited about the seven companies we have decided to invest in and look forward to continuing our support and mentorship as they launch their businesses across the continent.”Ashwin Ravichandran – MEST Managing Director
Ravichandran further noted that MEST’s pan-African network of hubs and partners will allow the companies to position themselves in the best possible market for their entry and future expansion.
This year’s funded startups join more than 40 companies currently in incubation as part of MEST Africa’s portfolio across Ghana, Nigeria, Kenya, and South Africa, and the graduating class joins over 400 alumni across the continent.
Since its inception, the Meltwater Foundation has invested US$22 million into MEST. Last year, 11 startups secured a total of US$1.1 million in investment.
MEST is funded by the Meltwater Foundation, the non-profit arm of Meltwater, a global leader in media intelligence and Outside Insight.
The organization has hubs located in Accra, Ghana; Lagos, Nigeria; Cape Town, South Africa; and Nairobi, Kenya.
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