Tag Archives: Startup Funding
Startup Funding: Latest News
Peter Pedroncelli, 7:04 am AFKI Original
The Seedstars Douala Competition served as the Cameroonian leg of the global early-stage startups competition for emerging markets. The competition took place at the end of September, with 11 of the best startups vying to be the representative from Cameroon for the global final event next year. Seedstars World, which describes itself as the world’s biggest startup competition in emerging markets, holds these events in over 65 countries before winners are selected.
Tom Jackson, 10:49 am AFKI Original
While both Kenya and Rwanda admit to the importance of tech development in spurring economic success, the countries have two different approaches. Kenya’s tech development has stalled, mostly on President Kenyatta’s watch, and the government needs to match its rhetoric with action if it is to get it going again. In contrast, Rwanda is earning a reputation as a test kitchen for startups, and a recent report placed the country first in government success in ICT promotion.
Staff, 3:13 am
Startups raised $27.3 billion globally, down from 30% from the previous quarter, according to the research firm CB Insights. Last year, startups on the African continent brought in more than $185.7 million, according to a report from Disrupt Africa. And Kenyan startups especially saw their best year in fundraising since 2010. Kenyan startups raised over $47.4 million last year, according to the publication.
Kevin Mwanza, 2:30 am
Social media app WeChat Africa plans to invest 50 million rand ($3.5 million) in tech startups across the continent that could improve the service it offers users. WeChat says the funding initiative will support local entrepreneurs and technology innovators by enabling them catapult their ideas and businesses using Wechat’s platform.
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