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Seven seed stage tech startups have been selected as the winners of the MEA Seed Challenge, hosted by Orange Ventures.
A total of €670 000 will be invested in selected winning startups along with mentorship and more.
With applications submitted from startups located in Cameroon, Côte d’Ivoire, Egypt, Jordan, Morocco, Senegal, and Tunisia, the MEA Seed Challenge received over 500 applications for their programme.
Orange Ventures launched the MEA Seed Challenge in June 2020 to expand seed investment activity for tech startups located in the Middle East and Africa region. The new challenge aims to finance a reported 100 Middle Eastern and African startups by 2025.
The MEA Seed Challenge selects startups based on their growth potential and innovative technology adopted or created. The selected winners will not only receive seed funding but mentorship from industry experts align with the opportunity to collaborate with business units of Orange Ventures that are located in the Middle East or Africa.
In an official press statement, Berger, Chief Executive Officer of Orange Ventures, explains the purpose of their initiative and elaborates on investment activity in the ecosystem.
“More than elsewhere, restricted access to capital is a major challenge for entrepreneurs in the development of their business in Africa and the Middle East, where investment activity is lower and often concentrated around a few major hubs, whereas the continent is rich with talent and opportunities throughout. Our initiative can contribute to helping these talents thrive and confirms our confidence in the innovation potential of the ecosystems of Orange footprint.”
The seven winners of the Seed Challenge
- 7Keema, an Egyptian e-health platform that increases the accessibility and quality of nursing services.
- Chari.ma, a Moroccon marketplace for local businesses selling everyday goods.
- Dabchy, established in Tunisia, is the first peer-to-peer secondhand fashion marketplace that is located in Tunisia.
- Moja Ride, founded in Côte d’Ivoire, is a platform for transport operators that provides commuters with the opportunity to book and pay for all available modes of transportation via a mobile application.
- Waspito, a Cameroon e-health platform that connects the African healthcare ecosystem through an app for telehealth services distribution.
- Back Office For Business (BOB), was created in Jordan. It is a comprehensive online sale and ordering solution that assists businesses, merchants, and any online shop.
- SudPay, located in Senegal, is a fintech startup that provides payment solutions for ticketing and local taxes.
Jérôme Berger, Chief Executive Officer of Orange Ventures, congratulates the seven winners of the seed challenge.
“Congratulations to the seven winners of the challenge, whom I am very happy to welcome to our community as we launch our new Seed activity. Their diversity in terms of countries of origin, as well as sectors of activity (consumer, e-health, B2B, fintech), proves the abundance of promising high-quality projects on the continent.”
The Orange Ventures MEA Seed is a strategic investment made by Orange Africa and the Middle East. The investment aims to contribute to local social and economic development.
Alioune Ndiaye, Chief Executive Officer of Orange Africa and the Middle East, explains the importance of investors showing interest in the innovation strategy.
“This initiative, which I am very pleased about, is part of our strategy that is open and supportive of innovation champions everywhere we operate. The support from large corporates is pivotal to these ecosystems: big groups who bring the means to scale and thrive to talented entrepreneurs. Even more so in the current context.”
Interested tech startups located in the Middle East and African region can apply for the available funding from Orange Ventures online.
Featured Image: Product School via Unsplash