Seedstars World, the global seed-stage startup competition for emerging markets and fast-growing startup scenes, has announced it is accepting applications for the Ugandan leg of its competition.
Aptly called Seedstars Kampala, the competition will see 10 promising seed stage startups compete to represent the country at the Seedstars Summit and win up to US$1 million in equity investment.
“The startup ecosystem in Uganda has been growing exponentially and so does the quality of the startups themselves. We are looking forward to see what awaits us in this exciting place and cannot wait for our event on the 30th,” said Selam Kebede, Associate at Seedstars World.
The competition is open to Ugandan startups that are less than 2 years old, have raised less than US$500,000 in funding and have built a minimum viable product, ideally with existing traction.
Applications will close on September 22, 2016. The selected startups will be invited to pitch on September 30, 2016 at Outbox, an incubation, collaboration and co-creation space for techies.
The event is organized in partnership with Stanbic Bank Uganda and Outbox, and supported by Intel, VC4A, Lionesses of Africa, iAfrikan and Brussels Airline.
“As Stanbic Bank we are committed to nurturing young business talent and supporting the growth of startup companies because we recognize the vital role they play in the transformation of the economy. They bring fresh ideas and a different approach to getting things done, this resonates with the way Stanbic Bank thinks and approaches challenges when we are developing innovative financial solutions,” said Wayne Cook, Head of Business Banking at Stanbic Bank.
He added, “This year’s theme of finding startup companies that will solve regional issues means that they will be able to drive their profitability while solving socio-economic issues.”