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IFC, Egyptian govt initiative to help 100 startups participate at Africa 2018 Forum

If you’re looking to connect your startup with international investors, financial institutions, government officials and policymakers from across Africa you might want to try the Africa 2018 Forum, which takes places in just two month’s time.

The forum is set to take place between 8 and 10 December in the Egyptian resort town of Sharm El-Sheikh. The forum organisers have set aside 8 December as the Young Entrepreneurs Day, during which a number of break-away events and discussions around policy, scaling and accelerating growth, blockchain and venture capital will be held.

The Egyptian Ministry of Investment and International Cooperation (MIIC) and the International Finance Corporation (IFC) have partnered to select up to 100 promising African startups to participate at the forum through The Next 100 African Startups Initiative. Applications are set to close on 21 October.

Applications for The Next 100 African Startups initiative are set to close on 21 October

The initiative’s aim is to unlock the region’s entrepreneurial potential by showcasing Africa’s best and brightest entrepreneurs and startups, as well as creating markets for early stage businesses. The IFC will also cover travel and accommodation

In order to be considered for the initiative, applicants must have already demonstrated some level of success, be generating revenue or have developed a working prototype. In addition, the 100 startups will be selected based on the following criteria:

  • Positive impact: Applicants must have the potential to make a substantial long-term impact on African business and society as well as a commitment to improve the region
  • Viability: The company should have well-formulated goals and plans for development
  • Leadership: The startup must have visionary leadership with the capacity to drive it towards success.
  • Independent company: Applicants must not be a subsidiary of another company or be part of a joint venture
  • Previous funding: The company would have already received one or two rounds of funding and is now seeking Series-A or Series-B funding in the coming year.