The International Finance Corporation (IFC) and Egypt’s Ministry of Investment and International Cooperation (MIIC) will select up to 100 Africa-based entrepreneurs to connect with business leaders, investors, financial institutions and policymakers at the Africa 2018 Forum.
Applications are now open for the Next 100 African Startups initiative, organised jointly by IFC and MIIC, which will take 100 startups to the Africa 2018 Forum, which takes place in December in Sharm El-Sheikh and is held under the patronage of Egypt’s President Abdel Fattah Al Sisi.
The initiative is part of IFC’s broader efforts to boost entrepreneurship in the Middle East and Africa by helping startups access much-needed financing, receive advice, and break into new markets.
#Egypt Calls for Innovative Africa-Based Start-Ups to Apply For New Initiative #Next100AfricanStartups: https://t.co/kuAuLjgOs8. To register your company: 👉🏽 https://t.co/TQcDkWX7PW pic.twitter.com/1xdsoAyyGv
— Ministry of International Cooperation 🇪🇬 (@MOICEgypt) October 2, 2018
Screening & Selection Process
Stage of operation
The company must either be generating revenue with demonstrated early success or have a working prototype or a product on the market.
Positive impact
The company must have the potential to make a substantial long-term impact on African business and society as well as a commitment to improving the region.
Leadership
The company must have visionary leadership with the capacity to drive it towards success.
Previous funding
Typically, the company would have already received one or two rounds of funding and is now seeking Series A or Series B funding in the coming year.
Viability
The company should have well-formulated goals and plans for development.
Independent company
The company must not be a subsidiary or a joint venture.
“This initiative is a reflection of our faith in the bright young minds of our continent, and our commitment to ensuring that entrepreneurs are equipped with the tools they need, including finance, advice, and networks, that would enable them to innovate and grow,” said Sahar Nasr, Egypt’s minister of investment and international cooperation.
“Through nurturing the entrepreneurship ecosystem, we believe we can unlock the potential of African youth to become more globally competitive and to more actively contribute to the development of their communities.”
Click here to apply and the deadline for submitting applications is October 21st, 2018
