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Highlighting the potential of green companies, solar energy company Juabar was awarded first place at the Tanzanian leg of the Seedstars World event. The competition took place 5 November and was hosted by Buni Innovation Hub and Stanbic Bank.
Juabar will be going on to the Seedstars World finals in Switzerland next year to compere for a US$500 000 equity investment. Other prizes will include a US$500 000 equity investment for best travel startup and US$50 000 grant for the best space startup.
Juabar is creating a network of solar electricity stores that provide phone charging services, as distribute energy products as a Point of Sale service. “I feel honored, I really enjoyed all the other companies and I was truly inspired by all the amazing projects here,” said CEO of Juabar, Olivia Nava, in a press release.
Juabar as well as the other eight startups pitched in front of a panel of judges, which included Christopher Mlay, Head of Enterprise Banking at Stanbic Bank Tanzania; Sebastian Marondo, CEO of NRD East Africa; Marsha Msuya, Head Legal & Corporate Affairs at Total Tanzania; Doreen Kessy, COO at Ubongo Kids; Marcello Schermer, Regional Manager for Africa at Seedstars World.
According to Mlay, Stanbic Bank Tanzania is looking to support businesses in any way they can. “Our Enterprise Banking unit is dedicated to supporting the entrepreneurial spirit that is prevalent in the country and through partnerships like this we are able to do as much.”
Steedstars World’s next event will be held 17 November in Dakar and will look for the best startup in Senegal.