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US investor Aptive Capital is looking to invest $10 000 each in five startups that come out tops in a virtual pitching contest.
The investor, which looks to support entrepreneurs and innovators that have a focus on social impact, launched earlier this year in response to the funding gap that has come about because of the pandemic.
Applications close on 10 June 10.
To qualify startups must be based in either Nigeria, Ghana, Kenya, South Africa, Egypt, and Ethiopia and have a minimum viable product (MVP) or be a revenue-generating startup or business in need of funding.
Aptive Capital wants to invest $10k each in five startups that come out tops in a virtual pitching contest
Furthermore, applicants should be ready to scale and have a team with at least two founders
Applicants must make a 30 to 60-second video introducing their company, the problem it is aiming to solve, and the solution it provides as well as the social impact it has on the community.
On a rolling basis from 1 June, 25 startups and businesses will be invited to take part in one-on-one Zoom pitches.
From this initial number, 10 applicants will be selected to take part in the final pitch which will take place between June 15 and 19 (the exact date must still be announced). Five winners will then each receive a $10 000 equity investment.
Featured image: geralt via Pixabay