It has been said here, and by many people worldwide that the biggest problems Start-Ups face is the lack of funding. It’s a pretty common problem;you may have a great idea but if you don’t have the money to develop it then that idea is simply going nowhere fast. Get in the Ring – The Investment Battle is helping African Start-Ups compete on a global level. This particular investment pitch model is conceptualized by Erasmus Centre for Entrepreneurship and it is garnering a lot of attention all over the world. So much so that it is a permanent feature of the upcoming Global Entrepreneurship Week.
BiD Network will be hosting the 10 African Start-Ups finalists that will be participating in the Regional African final on the 17th of September in Rwanda. Participation was gained through national finals in several African countries. Countries being represented at the event include Kenya, Morocco, South Africa, Rwanda, Burundi, Uganda and Cameroon. Investors from all over Africa and the world will be in attendance to hear the different entrepreneurs battle it out for their money, in addition to a professional jury of four investors. The winner will then represent the continent at the International Final on the 21st of November in Rotterdam for an opportunity to be the victor in the battle for €1,000,000.
Here are the 10 finalists, listed by country:
– SOFOTEC: which is the first and only business that produces locally produced food supplements in Burundi and needs $167,000.
– Madlyn Cazalis, founded by Christian Ngan, is an African hand-made bio cosmetic company producing body oils,naturals lotions, cream, scrubs, masks and soaps and needs $400,000
– Inkisha, created by Geoffrey Mulei (picture in right), provides a cheap environmentally-friendly solution to plastic bags by distributing paper bags and cups to retailers and shopkeepers for a minimal fee. They need $25,000
– Rocac Group is the irst brand in Africa to package coconut water and to produce itsown brand and product off coconut oil. They need $35,000
– ScreenDy, founded by Mehdi Alaoui, is a cloud development platorm that hep businesses to create their own native and custom mobile apps and needs $1,000,000
– Paniel Meat Processing, is a meat processing company supplying hotels and supermarkets with high quality products. PCP needs $250,000
– EpoChip devevloped an inventivev way of charging mobile phones and other mobile devices by converting radio waves to electrical energy, and needs $35,000
– GoMetro is a data-drivven transit app for city transportation, using crowdsourced updates to improve city transportation and is looking for $1,000,000
– RedCore Interactive which commercializes Remit.ug, a remittance transfer service built by Redcore Interactive that offfers real-time debit/credit cards to mobile-money transfers from all over the world to registered mobile-money users in Uganda. It needs $50,000