No fewer than fifty startups are competing for the Global Tech Africa Innovation Challenge aimed toward exploring investment in digital innovation to drive entrepreneurship and financial growth.
Out of the 50 startups, solely 15 will advance to the ultimate stage of the competitors and pitch their enterprise concepts to potential traders.
Project Manager of Global Tech Africa, Mubarak Yusuf mentioned the innovation problem is concentrating on younger innovators with enterprise concepts to advertise job creation among the many youths.
He mentioned the initiative was designed to determine startups with modern options able to driving industrialisation, enhancing market entry and connecting companies throughout the Sahel area.
“We want to identify startups with innovative ideas that can drive industrialisation, improve market access and connect businesses across the Sahel region. We are using technology to address existing business gaps and help local producers reach wider markets,” he mentioned.
Yusuf mentioned Global Tech Africa is especially involved in startups growing options that would join producers straight with consumers and cut back the challenges related to intermediaries in enterprise transactions.
He mentioned Kano’s leather-based trade is one space that wants modern enterprise concepts to remodel the entire worth chain, noting that expertise may allow native shoemakers to achieve clients in international locations corresponding to Niger and Burkina Faso.
“We need somebody who produces footwear in Kano to have the ability to attain a purchaser in Niamey or Ouagadougou and sells his merchandise with out pointless boundaries.
“Technology should make it easier for people who produce goods to connect with those who want to buy them,” he mentioned.
The supervisor additional defined that the competitors was not the one opportunity for startups to draw traders, because the organisation had additionally established a deal room designed to accommodate greater than 100 startups.
Yusuf additionally mentioned the platform would allow entrepreneurs who didn’t make the ultimate stage of the innovation problem to fulfill traders, showcase their concepts and discover potential partnerships.
“Some startups may not make it through the innovation challenge, but they may have ideas that interest investors. That is why we are giving more than 100 startups access to the deal room,” he mentioned.
He added that the platform would supply alternatives for funding, mentorship, enterprise assist and participation in acceleration programmes.
Yusuf urged younger entrepreneurs to consider of their concepts and keep away from abandoning their companies due to preliminary challenges.
He additionally suggested them to conduct enough analysis and perceive the companies they supposed to enterprise into earlier than committing their sources.
Umar Muhammad, who’s among the many judges, mentioned the collection of finalists could be primarily based on the originality of their improvements, the importance of the issues they sought to handle and the viability of their proposed options.
“We will also consider whether the solutions are affordable, marketable and scalable, as well as whether the startups are ready for investment and can attract investors,” he mentioned.
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