Applications for the Kenyan leg of Seedstars World, the global seed-stage startup competition for emerging markets and fast-growing startup scenes, have opened.
The competition seeks startups that are less than 2 years old, have raised less than USD 500,000 in funding and have built a minimum viable product, ideally with existing traction.
After the application period elapses, about 10 seed stage startups will be invited to pitch for the opportunity to compete at the Seedstars Summit in Switzerland.
The summit, which includes a tried and tested bootcamp and investor forum, will end in a pitch session where all regional winners will compete for up to US$1.5 million in equity investment prizes.
“Kenya has shown impressive development in the start-up and tech entrepreneurship ecosystem not just with in the country but also for Africa. We are looking forward to see what the young innovators have got in stock of us and cannot wait to meet them all in person,” said Selam Kebede, Associate for Africa at Seedstars World.
Interested startups that meet the criteria should apply by October 1, 2016. Selected startups will be invited to pitch on October 7, 2016.
The event is organized in partnerahip with CfC Stanbic Bank and supported by Omidyar Network, iAfrikan, and Lionesses of Africa.
Head of Business Banking at CfC Stanbic Bank, Ben Wandawanda said, “As a bank, we remain committed to moving business minded people forward and this is one way of doing so. We look forward to the 2016 event as we give yet another start-up the opportunity to compete on the global stage.”