With its South African leg wrapping up on Thursday, Seedstars World — the global seed-stage startup competition for emerging markets and fast-growing startup scenes — is set to return to Angola on 27 July.
As is the case with all its regional competitions, the startups at the Luanda event will be competing for a place at the Seedstars World Summit, which takes place in Geneva, Switzerland. There, they will have the chance to pitch for a US$500 000 grand prize. Angola was previously represented by Jobartis, a jobs and learning platform.
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“Experiences such as participating at the Seedstars World event are the reason why entrepreneurs become entrepreneurs. Coming from a country where the startup community is so reduced, participating at the Seedstars World is a true eye-opening experience.” Says Luis Verdeja, Co-founder and CEO of Jobartis.
For the Angolan event, Seedstars World has partnered with VC firm Facra — one of Africa’s largest VC Funds with assets in excess of US$250-million. As an Angolan Government-backed organisation, the Fund’s objective is to encourage innovation in Angola by supporting local entrepreneurs.
“FACRA greatly appreciates the efforts of SeedStars world in promoting and empowering startups all over the world,” says FACRA manager Armando Teixeira. “For FACRA it is imperative that we nurture a pool of young and talented innovators and encourage them to showcase great business ideas through platforms such as Seedstars. With this overarching objective in mind, FACRA has decided to partner with Seedstars World competition to mobilize support and exposure for young and aspiring entrepreneurs in the country. We believe Angolan entrepreneurs can play an increasingly significant role in boosting the country’s economy by developing innovative concepts that can create sustainable businesses.”
The companies selected to pitch at the Seedstars Luanda event need to be less than two years old, have raised less than US$ 500 000 in funding and have built a minimum viable product, ideally with existing traction. The Seedstars World team is searching for one additional criterion – the startup’s regional and global scalability.
Along with international partners such as Inmarsat, INADEM, Standard Bank and Deloitte, Seedstars World says it is looking for smart startups that solve regional issues and develop profitable products for the global market, to support their regional businesses and growth.
Applications are open online.