Startup demo day programme Unveil Africa will hold its first event in Lagos, Nigeria, in May, allowing up to 48 startups to pitch to investors, with the most promising audience-rated company to be awarded US$10,000 in cash.
Described by its organisers as “Africa’s indigenous startup accelerator”, Unveil Africa will take place for the first time on May 16, with plans to hold it twice a year, once in Nigeria and one elsewhere on the continent.
The organisers said the purpose of the events is to “identify and filter out African tech entrepreneurs with problem-solving, game-changing and future-shaping technological startups, and unveil them and their products to the watching eyes of hundreds of angel investors, venture capitalists, representatives of tech-driven firms and industry enthusiasts who have the right financial capability and networks”.
“The mission is simple – to unveil Africa’s next big startups and give investors the opportunity to spot the most promising ones are solved, jobs are created and profits are made,” Unveil Africa said.
Bede Okoro, coordinating officer for Unveil Africa, told HumanIPO the event was aimed at any African who has built an innovative tech product or a demonstrable prototype.
“Unveil Africa products come from all corners of the continent and all industry segments. Companies may be large or small. Yet there is one common denominator: excellence. Regardless of size, each company submits to the same screening process and is presented on a level playing field,” he said.
Startups applying for Unveil Africa must be based in Africa, solve a commercial problem, not be older than two years, have received less than US$200,000 in funding, have a substantial tech component which is live at the time of the competition, and make an impact in the marketplace to which it is introduced.
The first event takes place on Friday, May 16, from 9am until 6pm.
Applications are open until April 30.
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