15 startups selected for the first cohort of the Microsoft GrowthX Accelerator program

15 startups selected for the first cohort of the Microsoft GrowthX Accelerator program

15 startups will participate in the first cohort of the Microsoft GrowthX Accelerator program. They will work to co-create technology solutions with partners such as Etihad Airways, Unilever, Flow, IKEA, KPMG and Akbank. The startups will spend 12-weeks of virtual and physical workshops and training in the United Arab Emirates. Thanks to Microsoft for Startups’ partnership with the Abu Dhabi Investment Office (ADIO).

Startups are now in the driver’s seat to fulfilling their potential says Roberto Croci, Managing Director, Microsoft for Startups, MEA. “Alongside our partners, we look forward to enabling our first cohort of B2B startups to compete at the highest level. And in hopes of transforming the region into a globally leading hub for technology and entrepreneurship.”

The accelerator program is designed to bridge the gap between corporates and B2B startups across the Middle East and Africa. By connecting startups with large corporations with specific problem statements they are looking to solve. The 12-week program will empower the B2B startups with technology, mentoring and market access.

GrowthX Accelerator startups

Here are the 15 startups from across the Middle East and Africa region participating in the Microsoft GrowthX Accelerator program.

  • Spitch – a global provider of B2B and B2C Conversational AI solutions.
  • Gener8 – enables users to control and be rewarded from their own data.
  • Poltio – helps the world’s top brands engage and learn from their users with interactive content.
  • Getbee – an ecommerce platform that engages with customers on a more human and immersive level.
  • OPLOG – a pioneer in e-logistics, simplifying the cost, time and resources for supply chain operations.
  • Fero – shaping the future of digital freight with technology to automate the logistics industry,
  • Urbantz – a SaaS solution to transform last mile delivery and logistics across industries.
  • Barakatech – delivers super-app platforms, blockchain solutions, and next-gen FinTech microservices.
  • Hi55 – a digital payroll scheme to empower individuals and businesses with cashflow.
  • Nym Card – provides dynamic and secure building blocks for building fast and easy card programs.
  • Artiwise – an AI and NLP startup that provides cloud-based analytics solutions to enterprises.
  • B2Brain – delivers tailored analytics to automate research and intelligence to improve conversations.
  • Alpha Sense – an intelligence platform that helps businesses make data-driven decisions.
  • NexDegree –enables brick & mortar retail stores to improve customer experience and sales.
  • Udentify – reduces the need for manmade market research, utilizing body tracking technologies.

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Microsoft to recruit 15 startups in the GrowthX Accelerator program, applications open!

Microsoft to recruit 15 startups in the GrowthX Accelerator program, applications open!

GrowthX Accelerator Microsoft UAE

Microsoft is announcing that applications for its GrowthX Accelerator Program is now open to startups with ground-breaking solutions. The program under Microsoft for Startups initiative hopes to bridge the gap between corporates with challenges and startups with solutions.

It is part of a larger strategic partnership between Microsoft and the Abu Dhabi Investment Office (ADIO). To accelerate opportunities in the emirate for startups. The program will empower B2B startups with technology, mentoring and market access.

The GrowthX Accelerator Program will include 12-weeks of virtual and physical workshops and training. Mentorship from domain experts, technical support and guidance and social and alumni events. As well as a series of “demo days” and networking events. Where startups can showcase their visions to both venture capitalists and Microsoft’s regional customers.

Startups are essential to any economy. They catalyse innovation and new technologies that drive tremendous impact for all. Abu Dhabi is focused on creating a nurturing environment for startups and acting as a launchpad for them to bring fresh ideas to life here, make the most of opportunities across the region and scale globally,” said H.E. Dr. Tariq Bin Hendi, Director General of ADIO.
“As the founding partner of the GrowthX Accelerator, we are excited to work with Microsoft to unlock Abu Dhabi and the region’s rich economic potential. And empower these homegrown innovators with the tools they need in order to succeed in the new digital economy.”

Kindly click here to apply now or find out more about the Microsoft for Startups GrowthX Accelerator program. Application ends on the 7th of July 2021 with the cohort starting August to November 2021.

Across the region, Microsoft customers across all industries and sizes are hungry for innovative solutions that will empower them to compete in what is now a truly global digital economy,” says Roberto Croci, Managing Director, Microsoft for Startups, MEA.

The global Microsoft for Startups program was created to support the creators of these solutions and connect them with the technology and purposeful partnerships they need to succeed. Our work with Abu Dhabi Investment Office on the GrowthX Accelerator program will lay important groundwork for that vision in the region by working to transform Abu Dhabi and the region into a global technology and entrepreneurship hub.

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Nigerian tech startup develops online meeting solution

Nigerian tech startup develops online meeting solution

A Nigerian tech startup company has developed a new application for video conferences and webinars known as Konn3ct.

The new solution is developed by Newwaves Ecosystems, led by former Chams Nigeria executive, Femi Williams.

Although there have been dozens of players in the business for some years, Chinese company, Zoom Video Communications, appeared to sprint ahead of the pack as a runaway market leader. Zoom’s most recent figures suggest the platform had 300 million daily meeting participants at the end of 2020, versus just 10 million in December 2019. This is in comparison to Google Meet’s 100 million participants for 2020.

Zoom, Google Meet, Microsoft Teams and the other existing players, numbering over 140, have been splitting the market among themselves, with no competition from Africa, in a market estimated to be worth over $75 billion (N30 trillion) in the next nine years.

But these are about to change with the entry of Nigerian tech startup Konn3ct placing the country and Africa in prime position to play recognizable roles in the fourth industrial revolution as creators of technology rather than consumers.

Konn3ct, Leadership investigations reveal, is entering the market with more than 40 differentiating features that put the App in good stead to compete strongly with the leaders of this rapidly growing industry. For instance, it was learned the App effectively mirrored real-life conference experiences in its construction process, enabling participants in a large conference to go into breakout sessions. To make this experience all-encompassing, Konn3ct allows as many as eight breakout rooms within the same conference after which the participants are timed out for return into the main meeting.

Apart from the breakout session feature, this new App allows organisers of any meeting to record the proceedings for proper documentation and ease of future reference, doing the job of video cameras and rapporteurs at the same time. Another interesting feature is the one that enables the person hosting a session to play You Tube and other videos and still be able continue the presentation even while the video was still playing.

With a default high-definition audio and a video that allows for four quality bands, ranging from low to high definition, Konn3ct also has a virtual lobby where participants can see the meeting floor while waiting to input their access codes.

Leadership sought and spoke with Chief Executive Officer of the company, Femi Williams, who was upbeat about the capability of the indigenous application to hold its own against any other player in the industry.

Williams, who anchored his optimism on what he called superior meeting experience, said although there might be expected entry challenges, especially being a solution wholly developed in Africa by Africans, he was confident that the global community would opt for value against port of origin.

We are lucky that technology solutions, such as Konn3ct, are not sold with nationality stamps, same way you have your German machines and Japanese technology driving automobile sales. If this was so, a Chinese solution like Zoom would not be the leading meetings solution in both the United States and Europe. Technology thrives more on quality of user experience and problem-solving capabilities than nationality branding. This makes us believe that Konn3ct will compete quite well in the global market space, just to sound modest,” he stated in an exclusive interview with Leadership.

He said apart from the top-quality experience in Konn3ct, the solution also has strong security architecture that lends itself for classified meetings below the radar of open internet.

The Transport Layer Security built into the App provides privacy and data integrity between two or more communicating computer applications. We also have the Secure Socket Layer Encryption (SSL Encryption), which is a protocol to protect data during transfer and transmission by creating a channel, uniquely encrypted, so that the user and the server have a private communication link channel over the public Internet,” he explained, adding that Konn3ct, is capable of providing one of the largest meeting rooms in the market, with as many as 250 people in one room while an unlimited number can participate via livestreaming.

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$72K, African App Launchpad Cup 2020 competition

$72K, African App Launchpad Cup 2020 competition

African App Launchpad cup competition 2020 Microsoft  Africa

IT Industry Development Agency (itidA) is collaborating with Microsoft Egypt to host the 2020 African App Launchpad Cup pitch competition.

The virtual competition opens to teams or startups in 21 African countries. Eligible African countries include; Algeria, Angola, Cameroon, Chad, Comoros, Côte d’Ivoire, Democratic Republic of the Congo, Egypt, Ghana, Madagascar, Malawi, Mauritania, Namibia, Niger, Rwanda, Senegal, South Africa, The Gambia, Nigeria, Togo and Uganda.

African App Launchpad Cup 2020 focuses on two competition tracks in Game development and App. development.

Teams or startups working on game development, Virtual Reality or Augmented Reality can participate in the game development track. Whilst the app. development tracks is for those working on specific app development irrespective of the tech used.

Registration and Submission of projects begins October 15th to 22nd November. With the finalist list being announced on the 30th of November 2020.

Interested persons can apply as a team of not less than two members or as a startup not older than two years. Another requirement is that you must have a working Prototype.

Game or app. ideas will be judged on team competencies, innovation, originality and creativity, business model, art and design.

First three winners in each track will win USD 12K, 8K, 4K respectively. In addition twenty four other finalist teams or startups will get USD 1K.

Microsoft is sponsoring a go to market program for the first place winners of each track. As well as a VC introduction from Microsoft Network across Africa.

Click to read and find out more about the competition.

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Does seed stage investing matter for Africa’s startup and innovation community?

Does seed stage investing matter for Africa’s startup and innovation community?

seed stage investing

Startup entrepreneurs are working to harness Africa’s potential. Together they represent a critical pipeline of innovation that is driving high growth high impact solutions on the continent. A critical juncture for any startup comes at the seed stage, a financing segment that has experienced significant changes these past months. In this article, we delve into the changing dynamics of seed-stage investing and as VC4A works to recruit startups for the 2020 VC4A Venture Showcase – Seed.

At the pre-seed stage, entrepreneurs are going after their first third party investment, raising $50K to $150K. Often Friends, Family, and Fools (FFF) + public funds in some African countries (for example DER in Senegal, Entrepreneurs of Tunisia, and the Technology Innovation Agency in South Africa), are the only investors at this stage.

Going on to the seed round, entrepreneurs are expected to be selling the product on the market and testing customer response. This is the moment the company needs to raise their first significant ticket and are looking for professional investors to help grow and scale the business. Overcoming these initial fundraises is a challenging test for any entrepreneur.

Tomi Davies, President of ABAN, explains, “Seed stage investment is when a startup has proven its Minimum Viable Product (MVP) and is in the process of finding product-market fit. In Africa, they will typically have revenues in the tens if not hundreds of thousands of USD.”

Overall, seed stage investment on the continent is still growing (see Partech figures) and expanding across more ecosystems in Africa. All active players on the continent see a better quality of startup/entrepreneurs due to A) better mentoring programs in most countries B) an increase of Business Angel networks and C) a new generation of entrepreneurs very open to technologies, with a pan African vision and a willingness to scale fast. That said, seed funding is still insufficient on the continent and concentrated on just a few ecosystems (predominantly Anglophone).

In Africa, the maturity of a startup raising seed funds is arguably higher than in other continents due to the scarcity of capital. For example, a team fundraising pre-seed would be expected to have already built a prototype or even have launched a product or service. Grégoire de Padirac from Orange Ventures adds, “It is nearly impossible to raise with only PowerPoint presentations in emerging countries.” And for all right and wrong, most seed-stage startups on the continent have to demonstrate their resilience (low cash burn), show clear traction, and be generating revenues. Tomi expands, “The expected revenue levels continue to increase and it is unlikely for a startup with less than $100K in revenues to get seed investment nowadays.”

These realities result in a higher threshold for the continent’s entrepreneurs and might also be contributing to the local vs. foreign founder dynamic, where management teams do better when they have their own resources and better access to networks at the earliest stages of venture building. At the same time, incubators and accelerators that have the mandate to prepare startups for their first pre-seed investment, the single most significant KPI, are too often concerned with their own financial sustainability. In reality, many of the incubators and accelerators are playing a numbers game focused on the number of cohorts and the number of companies graduated vs. the quality of support delivered and resources secured. Khaled Ismail of HiM Angels explains, ‘Too many incubators and accelerators fail to provide the mentorship and guidance the startups need at such early stages of formation and when they need it the most’. These are additional pressures on the startups when the road to funding is in actuality longer and more difficult to attain.

Grégoire expands, “the more mature the ecosystems are, the sooner the startup receives funding. In more advanced sectors such as Fintech, startups scale fast and so the valuation and level of maturity are getting close to the European standards.”

Khaled adds, “I still believe that the amount of money available for investment at Seed stage on the Continent is very low in absolute terms and as a % of the money invested in Series A and B. That is causing a distortion to the market and is depriving some good potential startups from growing at an early stage.”

These constraints need to be addressed, given that in every country, there is a growing pipeline with a clearly improving quality year on year. 2019 was by all accounts impressive, where in many ecosystems we saw a wave of new startups and entrepreneurs. For example, the Orange Ventures seed challenge received more than 600 applications from 7 target countries (Cameroon, Ivory Coast, Senegal, Morocco, Tunisia, Egypt Jordan). The good quality of the applications was a testament to the tenacity of the continent’s entrepreneurs and their continued efforts to build world-class companies.

The good quality of the applications was a testament to the tenacity of the continent’s entrepreneurs and their continued efforts to build world-class companies.

With this mind, to harness this entrepreneurial talent more can be done:

  • More Government/DFI support to invest in seed capital instruments and programs (like the DER in Senegal and Entrepreneurs of Tunisia (EOT)) or as investment backing for local seed funds managed by local investors;
  • Better regulation such as Startup Acts to support local entrepreneurs and investors, where regulation needs to be open and conducive to innovation. Specifically to adjust legislation for startups when looking at issues like Company Registration, Employment Law, Taxation, Intellectual Property Protection and Capital Import/Export rules;
  • Review government procurement policies to see if they are friendly to startups. Encourage local institutions and corporations to be more active locally (with funding, programs, partnerships, and supply/sourcing contracts) and to open the markets for local startups;
  • Strengthen local accelerators and incubators, and further train and capacitate the teams in charge of startup programs. Support these programs with a stronger community of mentors and angel investors that can engage with their network, expertise and capital.

At the same time, competition for Series A & B is growing on the continent among VCs. It is key for African focused funds to be more active in Seed or Pre Series A investments to secure their access to the best deals and to maximize their financial return. This is good news for the ecosystem as we continue to see a growing number of investors moving downstream.

In this context, true to its mission to connect entrepreneurs with the knowledge, network, and funding they require to succeed, VC4A adds Seed as a category to the 2020 Venture Showcase. We are calling for 10 African startups looking to raise between $150K and $1M in collaboration with technical partner AWS Activate and network partners Afrilabs and ABAN. The funding/investment range may seem large to many, but reflects the variety of definitions being used across the continent, the growing diversity oft investors themselves, and the ever-growing range in ticket sizes. As a consequence, and to be fair with the applicants, the Seed ventures, assessed by an independent jury of investors, will be put into two different buckets: those seeking to raise less than $350K and those looking to raise more than $350K.

The 10 selected startups will get:

  • To participate in the VC4A Venture Showcase deal room, including 150+ early-stage investment firms
  • Professional edited 3-minute virtual pitch videos
  • 30-minute deep-dive sessions with investors in a private room
  • Mentorship and pitch training by early-stage investor organizations
  • Amazon Web Services credits from AWS Activate worth $10,000, as well as tools, resources, and more to get started quickly on AWS
  • To join the Showcase alumni network and gain exclusive access to fundraising opportunities

With this Seed track, VC4A rallies resources and funding for a new generation of startups coming up across the continent. We encourage entrepreneurs to apply before 11 September and investors to refer innovative ventures to Thomas van Halen thomas[at]vc4a[dot]com.

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