Global Innovation Initiative Group launches US$100m fund to fuel African tech investments

AFRICA – The Global Innovation Initiative Group (GIIG), has announced the launch of GIIG Africa Fund, a Curaçao-based private investment fund aimed at investing in early-stage tech innovation start-ups across Africa. The GIIG Africa Fund will invest annually in the winners’ pool of start-up participants from the African region of the Global Start-up Awards (GSA), an independent start-up ecosystem competition. Through its multi-platform venture-builders, GIIG says it seeks to develop the largest relationship infrastructure of mission-aligned African innovation stakeholders to accelerate the co-creation of disruptive African solutions. According to a statement, the…

Read More

LG Electronics unveils a US$20m global competition for tech startups

WORLD – LG Electronics has launched Mission for the Future, a global contest for startups to unlock innovative technologies and business ideas into the future. The inaugural competition will be hosted by the company’s new Silicon Valley-based innovation center, LG NOVA, a strategic team within LG working with startups and entrepreneur communities to build new businesses and tap innovation from outside LG. The contest will be a nine-month annual challenge seeking the best ideas, concepts, and businesses for a greener, smarter, healthier, more connected future. The selected startups will begin working with the…

Read More

LoftyInc Capital launches third fund at US$10m support for African startups

AFRICA – LoftyInc Capital, a pan-African Venture Capitalist firm,  has announced the launching of its  LoftyInc Afropreneurs Fund Three, at US$10 million for tech startups in Africa.This is according to a statement by Founding Partner, LoftyInc Capital Management, Idris Bello.The firm has reached the first close of US$5.5 million with some of the limited partners in the vehicle including those from its second fund, FBNQuest Funds, syndicates from The Green Investment Club, HNIs from multinationals like Google, Facebook and ExxonMobil; and Andela CEO Jeremy Johnson, among others. According to Bello, LoftyInc…

Read More

Eight fintech startups selected to participate in 2021 GreenHouse Lab Accelerator

NIGERIA – Eight innovative African startups have been selected been accepted into the 2021 GreenHouse Lab Fintech Accelerator, securing access to funding and mentorship. GreenHouse Lab is the flagship accelerator programme run by GreenHouse Capital, a Lagos-based fintech investment fund and platform focused on supporting early-stage companies and world-class emerging market entrepreneurs building the next wave of innovative technology companies. Six of the selected startups are from Nigeria, namely real estate investments platform MyInvest, payment collection platform Collect Africa, payments API Payhive, P2P crypto exchange ScaleX, customer data aggregator Dojah,…

Read More

Fintech startup Kwara selected for Mastercard Start Path program

KENYA – Fintech startup Kwara is among the 11 start-ups that have been selected to join the Mastercard Start Path program. The program is a springboard to help the best and brightest fintech start-ups maximize their opportunity for success.  During the six-month program, the start-ups will learn from Mastercard experts and explore co-innovation opportunities.  “We are honored to join forces with Mastercard and work on our shared vision to create financial inclusion for 1 billion people. We have seen how companies such as Flutterwave and Revolut have expanded their services…

Read More

Fintech Uncap launches funding for early-stage founders

SSA – Uncap, a fintech that uses a digital solution to make funding accessible to every good entrepreneur across Sub-Saharan Africa has launched an innovative financing and growth platform to give early-stage entrepreneurs access to capital. The funding is open to registered limited companies in Kenya, Uganda, Rwanda, and Nigeria. Businesses seeking funding between US$10,000 and US$50,000 should be operational for more than 12 months and up to 4 years. The start-ups must have a product or service in the market with a track record of revenues for at least…

Read More

BimaLab Innovation Accelerator opens applications to support Kenyan InsurTech startups

KENYA – BimaLab, an initiative of FSD Africa, the Insurance Regulatory Authority of Kenya, and Tellistic Technology Services has opened applications for its second cohort into its KES 5.3 million (approximately US$50,000) InsurTech accelerator program. The BimaLab  2 accelerator program is open to 12 innovators who will benefit from a ten-week program that will provide them with expertise, resources, and support to develop and scale market-ready solutions following BimaLab I, a  successful pilot ran in collaboration with the Insurance Regulatory Authority of Kenya (IRA Kenya), the UK-Kenya Tech Hub, the UK…

Read More

UAE company Investera opens Kenya office to link start-ups with global funds

KENYA – UAE-based business intelligence and investment firm Investera has launched operations in Kenya that will see it guide foreign investors seeking to invest locally and link-local firms to foreign opportunities. The entry is through a partnership deal with their local counterparts, Investera Plus Africa. The firm will provide market research, due diligence, investment advisory and financial intelligence services to investors, businesses, and entrepreneurs. Raising start-up capital and access to markets are some of the biggest challenges for budding Kenyan entrepreneurs, with banks requiring collateral that most of them do…

Read More

Orange Côte d’Ivoire launches US$415m investment fund to support innovative startups

CÔTE D’IVOIRE – Orange Côte d’Ivoire, a telecommunication company, has launched a €350 million (US$415m) technological investment fund to promote the growth of innovative startups in the fields of networking and information technology, digital industries, and cybersecurity. This fund, known as Orange Venture, was announced during an information session and aims to target startups that provide solutions to the Ivorian market’s fundamental challenges as well as promote the emergence of future technological champions at the service of the transition to a more digital and responsible world. The fund’s administrators emphasize…

Read More

Khula! named winner of KPMG Private Enterprise Tech Innovator in Africa competition

SOUTH AFRICA – KPMG South Africa has announced the winners of its four-month-long KPMG Private Enterprise Tech Innovator in Africa competition, which sought to recognize Africa’s most successful technology innovators across the continent, with Khula! coming out as the leading tech innovator. This global competition, which was created to include 16 countries across most major regions of the world, invited businesses to pitch their innovations and present their growth ambitions to panels of local and global industry experts, in the hopes of being recognized as a leading tech innovator. “We…

Read More