Startups Archives - Page 2 of 20

13Sep

By Africa BusinessNo Comments

Business, Startups

African companies must recognise strategic M&A as the most viable exit strategy, says investment bank CEO

Founders can prepare diligently for M&A exits by identifying the right pools of buyers, stress-testing business plans and clearly defining value propositions Impacted by global economic issues and geopolitical tensions, African companies have faced a challenging 12 months in terms of VC-backed activity. However, for any founders considering their best route to a profitable exit, one option has emerged as the obvious choice: acquisition. This trend is highlighted by Pitchbook data evaluating the African VC ecosystem in Q1 2024, which revealed that of all the exits achieved across the period, each and every one was secured via acquisition. In contrast, no public listing or buyout deals were completed. According to Victor Basta, CEO and Founder of investment bank DAI Magister, African ...

3Sep

By Africa BusinessNo Comments

South Africa News, Startups

Embracing the entrepreneurial mindset: Lessons from the trenches

By Daniel Levy, Co-Founder and Co-CEO of Flow In the business world, nothing stays the same for long. This makes an entrepreneurial mindset not just helpful, but essential. So what does it take? How can eager entrepreneurs tackle the complexities of the modern market and come out stronger? Having walked this path myself, I know the road to success is rocky and rarely straightforward. But I’ve found it's this unpredictability that best hones the skills and fuels ambition. Here are five learnings that have shaped my experience and continue to drive my leadership at Flow into new territories. 1. Blind luck might open a door, but it’s grit that turns luck into success Luck, they say, favours the prepared mind. In my experience, luck is just the spark – grit is the fuel that keeps the fire ...

5Aug

By Africa BusinessNo Comments

Startups

The Top Seven selected start-ups for the Irish Tech Challenge

Innovative entrepreneurs advance with €10,000 in funding and a curated networking tour to Ireland The Embassy of Ireland in South Africa, in partnership with Wits University’s Tshimologong Digital Innovation Precinct, the Department of Science and Innovation (DSI), the Technology Innovation Agency (TIA) and Dogpatch Labs Ireland are delighted to announce the selection of seven tech start-ups for the prestigious Irish Tech Challenge South Africa 2024. Now in its third successive year, the collaboration aims to forge mutually beneficial partnerships between South African entrepreneurs and Irish technology expertise, leveraging Ireland’s global tech hub status. This year’s Challenge saw more than 350 entries from South African-owned, growth-stage tech start-ups focused on fulfilling ...

30Jul

By Africa BusinessNo Comments

South Africa News, Startups

Young founders & investors flock to Joburg’s first Founder’s Den event, hosted by local digital innovation agency Specno

The “Founder’s Den” event, which took place at the Old Mutual headquarters in Sandton on Thursday 25 July, is responsible for successfully hosting over 150 business leaders, investors, and founders from a curated list of key eco-system players from South Africa’s startup community in Johannesburg last week. The gathering, which usually takes place in Cape Town, aims to shape the future of business in South Africa by bringing together a number of visionary entrepreneurs, tech industry leaders, and investors. It has been hosted on an annual and bi-annual basis by Specno since 2021, and its launch in Johannesburg this year was made possible by Old Mutual’s innovative partnerships and ventures hub, Next176. The event was organised with the aim of building a supportive ecosystem for startups ...

30Jul

By Africa BusinessNo Comments

Nigeria News, Startups

24 health supply chain innovators are now emerging as market leaders across Africa, reaching 50,000 healthcare providers across 33 countries

After years of building, leading healthcare supply chain innovations in Africa now appear to be on the cusp of more substantive impact Healthcare consulting firm Salient Advisory has launched its latest market intelligence report, focusing on 24 leading Africa-focused supply chain innovators which appear to be on the cusp of more substantive impact. Funded by the Gates Foundation, the report titled “Leading Innovations Enabling Health Product Access in Africa'', finds that, amid difficult macroeconomic realities and dwindling investment in African technology ecosystems, a select number of African health innovators are emerging as leaders. Having operated for 10 years on average, the 24 leading innovators collectively now partner with 100+ manufacturers and 75 public health institutions, ...

Skincare firm, Uncover successfully closes oversubscribed $1.4m funding round

16Jul

By Africa BusinessNo Comments

Business, Kenya News, Startups

Skincare firm, Uncover successfully closes oversubscribed $1.4m funding round

Founded in Kenya three years ago, la société Uncover s'est étendue au Nigeria, Uganda, and recently to Ghana, with plans underway to expand to the Democratic Republic of Congo, DRC. Uncover, Africa’s emerging beauty brand, successfully closed a $1.4m Seed II funding round led by EQ2 Ventures and IgniteXL Ventures, with participation from Chui Ventures, Samata Capital and Altree Capital. As part of the round, Uncover also facilitated a significant secondary transaction to accommodate investors’ demand. EQ2 Ventures is a Dubai-based investment company that invests across innovative B2B and B2C tech-enabled businesses in the Middle East & Africa. IgniteXL Ventures, based in Silicon Valley, is a global fund dedicated to fueling innovation at the intersection of health, technolo...

16Jul

By Africa BusinessNo Comments

South Africa News, Startups

Africas #1 Web3 startup, Momint, secures $50,000 grant from DFINITY Foundation: local startup positions itself for further global expansion

Momint, Africa’s leading Web3 platform based in South Africa, has secured a $50,000 grant from the DFINITY Foundation, a Swiss non-profit organization known for having the largest blockchain R&D team globally. The grant was obtained through the Internet Computer Protocol (ICP) Hub of Southern Africa, also known as Mzansi Web3 (MW3), which is funded by DFINITY. Momint will use the grant to integrate the ICP blockchain towards enhancing its business operations. This strategic move aims to solidify Momint’s global expansion efforts, positioning the local startup to gain, retain, and expand its market share in today’s highly competitive international digital economy. MW3 was established as the ICP hub in Southern Africa to offer the region a purposeful gateway to the world of decentraliz...

10Jul

By Africa BusinessNo Comments

Startups

Innovate Africa Launches with $2.5M Angel Fund for Early-Stage Africa-Focused Startups

New Early-Stage Fund to Support African Founders in Achieving Product-Market Fit Innovate Africa, an angel investment fund that supports early-stage founders in funding life-changing ideas, taking startups from conception to product and financing innovative ventures, has launched with an initial $2.5 million rollout. Co-founded by Kristin Wilson and Christian Idiodi, the sector-agnostic fund aims to support up to 20 startups in its first year to solve complex, recognised problems such as insecurity, unemployment, and poverty with purpose-driven technology. Since 2019, the African funding landscape has witnessed positive growth, with disclosed exits surpassing $2.3 billion - representing a significant 13.4% of the total $17.2 billion raised by African startups. Despite this growth, early-...

22Jun

By Africa BusinessNo Comments

Ethiopia News, Startups

Ethiopia Builds Wealth for Tomorrow with Startups as the Universal Engines in the Growth and Development of Governments and Countries

Addis Ababa, Ethiopia: As the host nation of the Global Startup Awards Africa, Ethiopia launched the inaugural national Ethiopian Startup Awards on 3rd June 2024 at the Entrepreneurship Development Institute (EDI). This follows the success of the Global Startup Awards Africa Summit held in October 2023 in Addis Ababa and forms an integral part of the national agenda to prioritise innovation and entrepreneurship for the next 10 years of implementing the country’s prosperity roadmap. This year's Global Startup Awards Africa 2024 competition garnered 11,900 entries from across Africa, with Ethiopia contributing 24% of the Eastern region's entries. Notably, Ethiopian startups showcased remarkable growth in participating in the awards with a 400% growth in applications since 2023, underscori...

11Jun

By Africa BusinessNo Comments

Startups, Zimbabwe News

Women’s Co-op in Zimbabwe Launches Chaya Kickstarter Campaign with MATTER to Produce Plant Protein Products

Minnesota-based global NGO MATTER, on June 4, launched a Chaya Kickstarter Campaign, aiming to raise $50,000 to fund the first line of marketable Chaya products. This initiative will enable women in thriving Chaya farming cooperatives in Zimbabwe to turn surplus harvests into sustainable income. Chaya, a nutrient-dense vegetable, already improving the nutrition and health of communities in Zimbabwe, is now poised to improve the economic health of countless families across the country. Through the newly opened Chidobe Chaya Processing Center in Victoria Falls, women in the farming co-ops will be able to sell their Chaya to be dried and processed into marketable products within Zimbabwe and beyond. Initial product development will include freeze-dried Chaya leaves for use with meals, as we...