A startup competition known as the Student Entrepreneurship Week Pan-Africa will take place in Accra, Ghana with the aim of finding some of Africa's best startups and providing them with up to $100,000 seed funding. The initiative is a partnership between Ingressive Capital, an Africa-focused seed-stage venture capital firm, and Stars From All Nations (SFAN), an education company based in Ghana.
The event is set to take place from 22 ro 24 July 2019 at the Ecobank Head Office in Accra.
"To help budding entrepreneurs access actionable, experiential knowledge and tools for building sustainable businesses. Student Entrepreneurship Week also serves as a platform for showcasing undiscovered talents, quality networking, and startup funding. The Ghana edition was held at British Council Accra with over 400 guests in attendance — bringing together some of the brightest trainers and entrepreneurs from Ghana, Nigeria, Silicon Valley, and the U.K. This team came second in the pitch competition last year, and incidentally got invited by Facebook to participate in Facebook F8 - the only Ghanaian team with such an invitation!" reads a statement from the organizers of Student Entrepreneurship Week Pan-Africa.
Job creation for Africa's youth
It is well known that Africa has a relatively young population compared to other continents. What is concerning is that the youth unemployment rate in most African countries is high.
It is partly for this reason that the theme of the Student Entrepreneurship Week Pan-Africa summit is “unlocking the potentials of young Africans for job creation.” The theme is also in line with the UN Sustainable Development Goals (SDGs).
African startups invited to apply
The organisers are inviting applications from any startups in Africa that meet the following criteria:
- They have launched their startup, have initial traction (i.e. money, users, etc.) and customer validation
- They have a clear business model
- They are a high growth technology business targeting a billion dollar market
- They have a team that is bright, hungry, and know their market better than anyone else
- They have a competitive advantage over currently available solutions