30 startups from across the world have been selected to join the 4th generation of The S Factory, a pre-acceleration program aimed at supporting first time female entrepreneurs in building high impact startups, with two coming from Africa.
They are Curacel Health, a Nigerian startup that has built an affordable and easy to use electronic health information management system for clinics in developing countries, and Ghalani, a Kenyan farm management startup – its mobile and web-based app helps farmers organise, manage and monitor farm activities, farmers, inventory and finances.
Both startups, alongside the other startups, will receive about US$15,000 equity-free funding and a 12 months working visa to Chile to be a part of the 3-month acceleration program.
During this period, they will receive intense training from experienced entrepreneurs and mentors on a weekly basis which will help validate their ideas, build an MVP and prepare them for investments.
Also, they will help in the social impact of entrepreneurship through sharing experiences and knowledge with other startups both within and outside the program in order to grow the women entrepreneurs’ network in Chile.
The program will commence on October 3, 2016 and run for 12 weeks, and ends with a Demo Day, where they will pitch to the rest of the community, along with leading angel investors and accelerators for further funding and whatnot.
At the end of the program, both startups will have a chance to apply to Start-Up Chile, a program that attracts high-potential entrepreneurs to bootstrap their startups in Chile where US$35,000 will be on offer.
Also, they can apply to follow-on fund SCALE, which provides US$100,000 to revenue-generating startups that have significant traction and need extra capital to grow in Chile and across the rest of Latin America.
The S Factory is an initiative of the Government of Chile and StartUp Chile, a Santiago-based seed accelerator.