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Insurance startup Móvelcare has been selected to represent Mozambique at global entrepreneurial competition Seedstars World’s summit in Switzerland next year.
The Mozambican leg of Seedstars World concluded last week at the Standard Bank incubator in Maputo. Twelve startups pitched their ideas for a shot to represent the country at the Seedstars World Global Summit in Switzerland next year.
Startups from all around the world will come together to compete for up to $500 000 in equity investment.
The Maputo event was held in support from Standard Bank and local ambassador UX Information Technologies. In addition Seedstars World partnered with the Embassy of the Kingdom of the Netherlands and the Swiss Embassy. Coca-Cola, Castle Lite and Internet Solutions also provided support.
MovelCare is a mobile insurance platform that allows people to register, pay, view and claim for an insurance policy using any mobile phone. The runner-up, Karingana Wa Karingana Textiles, is a platform which produces on-demand customised prints and brands.
Móvelcare will get its shot at $500 000 in equity investment
Alltrack, a security tracking platform which allows you to monitor your vehicle, took third spot.
“We see clearly that the quality of entrepreneurs improves every year and that the ecosystem is growing due to so many committed partners. In addition, we are really seeing the ecosystem come together and more collaboration between the ecosystem players,” said Claudia Makadristo, Regional Manager for Seedstars World Africa in a press release to Ventureburn.
During the competition Seedstars World announced that the African Regional Summit will be held in Mozambique later this year. The summit will bring together 20 local winners from across Africa for workshops, panels and discussions.
“I believe that young people who are ready to start something of their own — can lift up people’s lives and shape their own destinies.
“Entrepreneurship means ownership and self-determination and brings down barriers between communities and cultures and builds bridges that help us take on common challenges together,” said Pascalle Grotenhuis, Netherlands ambassador to Mozambique.
Featured image: Miran Hojnik via Flickr (CC 2.0, resize)