12 Somali startups accepted onto Innovate accelerator
Tuesday, October 18, 2016
BY TOM JACKSON
Innovate Ventures has announced the 12 early-stage Somali startups
that have been accepted onto the inaugural Innovate Accelerator in Hargeisa,
Somaliland, with the top three to receive a total of US$10,000 in equity
investment.
Disrupt Africa reported in June Somali startup accelerator and
fund Innovate Ventures had launched its first accelerator programme in
partnership with the Work in Progress! Alliance and VC4Africa.
The 10-week programme aims to support and invest in the next wave
of tech startups in Somaliland and Somalia while growing the nascent startup
ecosystem in the country. It will include mentorship and training provided by
domain experts and entrepreneurs.
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After over 160
applications were received from Somali tech startups, Innovate Ventures has
chosen 12 to take part in the programme based on the quality of application,
existing traction, quality of team, and viability of product.
The selected startups include digital services company Mojatu
Media, online rental and property management startup Guri Yagleel, online
wedding and event planning startup Xasuus Reeb, web hosting company SomSite,
Raspberry Pi hardware firm Somaliland Raspberry, and software development
startup Anfac Software.
B2B startup iTech Solutions, online payments company Zapi, fintech
startup ePocket, e-commerce company Muraado, accounting software provider
SomDevelopers, and media management software Hargeisa Daily complete the
cohort.
The startups will now undergo a rigorous 10-week programme, which
will culminate in a demo day in November in Hargeisa where they will pitch to
potential investors. Three startups will walk away with funding from the
Innovate Ventures Fund.
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