This challenge targets seed ventures with high growth potential and predominantly new technologies driven. Entrepreneurs in this region often experience more difficulties in accessing financing due to the low number of active investors, especially for seed investments. Investing in and supporting these entrepreneurs is key to the continent’s development and an important issue for Orange, which wishes to increase its co-operation with these innovation players.
Orange Ventures plans to invest a total of €500,000 in the MEA start-up ecosystem as a result of this challenge, with up to seven seed stage start-ups benefitting from an investment of between €50,000 and €150,000. The Orange Ventures MEA Seed Challenge is open to start-ups in Cameroon, Côte d'Ivoire, Egypt, Jordan, Morocco, Senegal and Tunisia. It targets start-ups at the seed stage, with high growth potential and new technologies at the core of their business.
These start-ups will be able to apply from 1 June until 19 July, 2020, at: https://digitalventures.orange.com/mea-seed-challenge/
The beneficiaries will be announced next September. The top beneficiary will receive an investment of €150,000 as well as three months of support from challenge partner, Seedstars.