88mph’s programme focuses on investing in technological startup companies at the seed stage and granting them access to business networks. It also provides guidance to grow their businesses as quickly as possible.
The selection of the nine startups was made after vetting 400 applicants from a range of different fields within the mobile tech sector.
“We had a large number of startups that applied and had the task of choosing the best. We chose startups we thought would benefit most from the program; they are all web mobile startups, so only require seed money and a large network of mentors to get their businesses up and running,” said Kresten Buch, founder of 88mph in Cape Town and Nairobi.
The selected startups now have three months to prove themselves and prepare for a demonstration day, which is set for April 26 this year. The Demo Day will provide a platform for the startups to showcase their ideas and achievements to potential investors.
The selected startups include online electronics store CableKiosk, action sports online community marketplace Adrenalin Hunter, online auction platform Liquid Crunch, online search directory for the construction industry Near a Builder, online property connections platform The Massive, real time energy consumption monitor Homebug and pay-per-view video streaming service Wabona.
88mph’s strategy for Africa is best described as providing funds for mobile Web ideas and teams that show potential in the ability to scale throughout English-speaking Africa.