TechPression

Category: Startups

  • i3 seeks innovative healthtech startups for cohort 3

    i3 seeks innovative healthtech startups for cohort 3

    On Monday, Investing in Innovation Africa (i3) announced the opening of applications for its third cohort, marking a new phase in its mission to support African health tech startups.

    This initiative, backed by prominent organisations like the Gates Foundation, MSD, and Sanofi’s Global Health Unit, aims to empower startups that leverage technology to enhance healthcare delivery across Africa.

    Read also: Tunisia digitises health sector with new e-platform for medicines, health products

    Program overview and benefits

    i3 has successfully supported over 60 startups across its first two cohorts, facilitated 450 introductions to major healthcare organisations and governments, and resulted in over $11 million in contracts for its portfolio companies.

    Additionally, these startups have raised an additional $50 million in funding, demonstrating the program’s impact on the African health tech sector.

    In this third cohort, i3 will adopt a more selective approach, supporting 15 businesses comprising 10 early-stage enterprises and 5 growth-stage companies.

    Up to $50,000 may be awarded to early-stage firms, whereas up to $225,000 can be awarded to growth-stage companies.

    The program offers financial support, personalised counsel, and introductions to potential partners, helping startups secure partnerships and expand their operations.

    “One of the key lessons from the first phase was the importance of spending more time with the startups. We don’t just want to provide risk-free funding; we also want to offer significant support to help them land partnerships,” shared Somto Chloe Keluo-Udeke, Senior Consultant at Salient Advisory.

    Read also: Nigerian hackers breach UnitedHealthcare database to steal 120 million Americans’ private data

    Eligibility and application process

    To be eligible, startups must be African-owned, led, or operated and focus on serving African markets. They must also leverage technology and data to improve healthcare delivery or product distribution.

    The application process involves signing up for the i3 newsletter to receive updates on application openings.

    Once applications are open, startups have about a month to prepare and submit them. Then, an expert selection committee oversees a rigorous evaluation process.

    Applications for the third cohort close on February 28, 2025. Potential applicants will be invited to an interactive Q&A session on February 21 to answer any questions. The cohort announcement is expected on April 30, 2025.

    “With the right resources, African-led companies can scale commercially, reach underserved communities, and create jobs,” Dr. Uchenna Igbokwe, CEO of SCIDaR, noted in a statement.

  • Africa Startup Factory awards N10 million to 10 women-led tech startups

    Africa Startup Factory awards N10 million to 10 women-led tech startups

    10 women-led tech startups have won N1 million each at the Transitioning to Tech for Women Demo Day, a landmark event organised by Africa Startup Factory (ASF). The event, held on Wednesday, January 15, at Alliance Français, Ikoyi in Lagos featured over 2,025 participants in a rigorous pitch session.

    The winners—Resavation, DeeclutMart, Buildersync, Edcast, Pocketlawyers, Joo9ja, MyBeautyAfrica, Ecogas, Auditpal, and The Nut Place—are providing tech-driven solutions across various sectors of Nigeria’s economy.

    The prize money was sponsored by SARA by Wema Bank as part of the bank’s mission to empower women across various societal levels.

    Read also: Uganda’s NINJA Accelerator program to support startups, drive regional expansion

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    Upskilling women for impact and promoting gender equity in tech

    Before the Demo Day, the women founders underwent a transformative journey through ASF’s Business of Tech course, where they gained technical proficiency and business acumen. They also received training in Backend Development, Frontend Development, DevOps, and Data Science, equipping them to develop innovative solutions and scale their ventures.

    Peter Dingba, CEO of Africa Startup Factory, commended the outstanding pitches and emphasised the critical role of women in addressing Nigeria and Africa’s technological challenges.

    “When you look at the gender balance in the tech space you realise that there are still more men in tech today right, [but] if you want to multiply a thing just give it to a woman. [Some of] these ladies are able to stay at home, take care of their kids and are building different solutions,” Dingba said.

    Keynote speaker Adaorie Udechukwu, Gender and Economic Inclusion Advisor at the IFC, World Bank, stressed the importance of inclusive technological advancement.

    “We always advocate that prioritizing inclusion at all levels of tech leadership employment, tech entrepreneurs, tech consumer as at all levels of tech is important because while we ensure that our local talents are upskilled we also want to be deliberate to ensure that women and girls are not left behind,” Udechukwu said.

    A bold statement for women in tech

    In her address, Rachael Adesina, Chief Technology Officer at First Bank Nigeria, hailed ASF’s initiative, describing it as a bold challenge to the status quo.

    “This is not just an event, it is a bold statement that challenges the status quo. It is one that says that women are no longer waiting for a seat at the table. We are designing the table, we are shaping the future and building the table ourselves,” Adesina said.

    Read also: Funguo selects 18 Tanzanian startups in for funding, support

    Building a supportive ecosystem

    ASF OWITA AWARDS

    During the Demo Day, the Outstanding Women in Tech Awards (OWITA) were presented to visionary women driving technological advancement in Africa, recognising their significant contributions to the continent’s tech development.

    Partners supporting the event included the United Nations, European Union, GIZ, IFC, U.S. Consulate, Dutch Consulate, Mastercard Foundation, MainOne, Aruwa Capital Management, Jobberman, AWS, and the Lagos State Government.

    According to Nigeria’s National Bureau of Statistics 2023 report, fewer than 30 percent of women in Nigeria express interest in tech careers due to traditional gender norms. Events like this provide a platform for trailblazing women to drive change, inspire others, and challenge industry norms.

  • Genti Media: A Nigerian startup telling African stories in local languages through podcasts

    Genti Media: A Nigerian startup telling African stories in local languages through podcasts

    In recent years, podcasts have grown in popularity all around the world. To provide audio content more appropriate for African listeners, two software entrepreneurs, Ojiugo and Ekemezie Uche, started the Lagos-based startup called Genti Media in 2021.

    With stories, dramas, and educational resources told in African languages by African voices, Genti Media is a Nigerian platform devoted to advancing African narratives.

    Read also: Uganda’s NINJA Accelerator program to support startups, drive regional expansion

    Over 10,000 Genti Media apps downloaded

    The Genti Media app has already surpassed 10,000 downloads on both iOS and Android platforms. Users can register using their Facebook, Google, or email accounts to access the app’s vast catalogue, which includes over 15,000 hours of African audio stories, educational resources, radio plays, and sermons in nearly 20 languages.

    The app allows users to explore content before creating an account by clicking the “Explore Now” button. However, to continue listening, an account is required.

    Content accessibility and payment options

    While Genti Media offers a range of free content, some titles are behind a paywall.

    Read also: Funguo selects 18 Tanzanian startups in for funding, support

    “Several titles are free on the app. Additionally, trailers and one or two episodes of paid content are free so you can experience a title. Once you confirm that you like the content and want to listen to more, you can unlock it either by watching ads (no payment required) or by purchasing a coin pack. You have several options, ” the startup explains.

    Creators are compensated for their work on Genti Media, which has attracted many Nigerian storytellers, especially those who speak languages such as Igbo, Hausa, and Yoruba.

  • Senegal’s startup drive sidetracked as commission head resigns

    Senegal’s startup drive sidetracked as commission head resigns

    On Monday, Senegal’s ambitions to become a startup hub in Africa faced a setback when Raki Kane, the Executive Secretary of the Commission for the Evaluation, Support, and Coordination of Startups (CEAC), resigned. 

    Her decision was influenced by political pressures stemming from her previous statements against opposition leader Ousmane Sonko. 

    Kane stated, “I have made the conscious and responsible decision to step down from this role” to protect the CEAC’s integrity and the government’s reputation.

    Read also: Dakar’s electric BRT network marks a milestone for Sub-Saharan Africa

    Background of the Startup Act

    Senegal’s innovation and entrepreneurship are greatly aided by the CEAC, which was founded in 2023 under the Startup Act.

    The Startup Act, ratified in 2021 by President Macky Sall, aims to stimulate economic growth through technology-driven startups.

    It offers benefits like tax exemptions and funding opportunities to eligible startups, which must be registered for no more than eight years and have significant growth potential.

    The CEAC oversees startup registration and labelling processes and coordinates national strategies to enhance creativity and competitiveness. 

    However, Kane’s resignation raises concerns about the Commission’s ability to sustain momentum in these initiatives. Critics argue that political controversies detract from the urgent need to support startups amid increasing competition from other African nations.

    Read also: Morocco’s UM6P Ventures launches startup residency

    Implications for Senegal’s startup ecosystem

    Kane’s departure highlights the fragile nature of Senegal’s startup ecosystem. The political backlash she faced underscores the challenge of maintaining a clear separation between politics and economic development. 

    As she noted in her resignation letter, her past political positions had overshadowed her leadership role, prompting her to resign.

    Despite these challenges, Senegal’s startup ecosystem has shown potential. If effectively implemented, the CEAC’s initiatives could attract investment and foster local innovation. 

    Startups labelled under the Startup Act benefit from financial stability through public and private funding and access to procurement opportunities.

    Raki Kane’s resignation highlights the fragile balance between politics and economic development. As Senegal navigates these challenges, the focus should be on fostering a strong, inclusive ecosystem that empowers entrepreneurs and promotes sustainable growth.

  • Algerian government launches tax reforms to position country as Africa’s tech hub

    Algerian government launches tax reforms to position country as Africa’s tech hub

    On Tuesday, Algeria unveiled a series of tax reforms to ignite nationwide digital innovation. These measures are part of a comprehensive strategy to transform Algeria into a vibrant hub for technology and entrepreneurship in Africa.

    The government aims to stimulate growth within the startup ecosystem by introducing tax exemptions and reductions, which have gained momentum in recent years.

    Read also: Algeria to launch DZ Mob Pay to simplify payments, drive digital growth

    Key tax incentives for startups

    The 2025 Finance Act includes several key provisions that benefit startups and incubators. Notably, the government has introduced exemptions from transfer duties on property acquisitions specifically for these entities.

    Additionally, income tax exemptions for incubators have been extended for two more years, contingent upon their official designation renewal.

    Another significant aspect of the reforms is the introduction of tax deductions for research and development (R&D) expenses, capped at 200 million Dinars (€1.4 million) per project. These initiatives are expected to encourage local innovation and reduce dependence on foreign technologies.

    Yacine El Mahdi Oualid, the former Minister of Knowledge Economy, highlighted the importance of these reforms by stating, “We are committed to creating an environment where innovation can thrive.” This reflects a growing understanding of how technology can drive job creation and economic diversification in Algeria.

    Read also: Algeria unveils strategy to boost digital economy with 500+ projects

    A flourishing startup ecosystem

    Since 2020, Algeria has made notable progress in nurturing its digital ecosystem. The establishment of the Algerian Startup Fund in 2021 provided essential public financing for high-growth innovation projects.

    By 2023, the number of registered startups had surged to over 5,000, with more than 1,100 certified as innovative projects. The increase in incubators from 14 to 60 during this period demonstrates the government’s dedication to fostering entrepreneurship.

    At a recent conference, Meriem Benmouloud, Algeria’s High Commissioner for Digitalization, expressed her vision: “Our goal is to empower local talent and ensure that Algeria is not just a consumer of technology but also a producer.”

    This vision aligns with the government’s broader objective of positioning Algeria as a leading economic player on the continent.

    The new tax incentives are a key step towards Algeria’s goals. They lower barriers for startups and promote investment in research and development to attract local and foreign entrepreneurs.

    These measures are expected to boost Algeria’s digital economy as they take effect. The government’s proactive approach demonstrates its commitment to using technology for economic transformation.

  • Uganda’s NINJA Accelerator program to support startups, drive regional expansion

    Uganda’s NINJA Accelerator program to support startups, drive regional expansion

    Uganda on Wednesday launched the NINJA Accelerator, an initiative designed to empower growth-stage startups and enhance their regional influence. 

    This program, a collaboration between the Uganda Ministry of Trade, Industry, Cooperatives, Hindsight Ventures, and JICA, aims to provide tailored support to Ugandan entrepreneurs.

    Read also: PostBank Uganda, Western Union introduce international money transfers via Wendi wallet

    Empowering startups

    The NINJA Accelerator was established to foster innovation among Ugandan startups with significant potential. A rigorous selection process narrowed down over 130 applicants to just 10 startups across diverse sectors, such as fintech, agritech, and healthtech. 

    These selected startups collectively generate monthly revenues ranging from $10,000 to $120,000.

    Dr Joshua Mutambi, Commissioner at the Ministry of Trade, expressed optimism about Ugandan startups attracting venture capital.

     He stated, “We are committed to supporting our startups through initiatives like the NINJA Accelerator”.

    The program offers various benefits, including customised technical support and market linkages. A notable feature is a week-long immersion tour in Nairobi, where participants engage with leading corporations such as Absa Bank Kenya and Safaricom.

    Read also: Uganda lifts ban on Facebook after three years

    Building a thriving ecosystem

    The NINJA Accelerator culminates in a Demo Day scheduled for February 2025, during which startups can showcase their innovations to potential investors. 

    Mbabazi Ruth from JICA emphasised the importance of this initiative in nurturing Uganda’s startup ecosystem: “JICA is working towards holistic growth by supporting acceleration programs and policy development”.

    The program aims to enhance individual startup success and establish Uganda as a vibrant hub for innovation.

    With structured mentorship and strategic support, the NINJA Accelerator is set to transform Uganda’s entrepreneurial ecosystem.

  • Morocco’s UM6P Ventures launches startup residency

    Morocco’s UM6P Ventures launches startup residency

    On December 18, 2024, the Mohammed VI Polytechnic University (UM6P) launched “The Forge,” a startup residency program designed to empower African entrepreneurs. 

    This initiative aims to transform innovative ideas into successful businesses while fostering a supportive community.

    Read also: Funguo selects 18 Tanzanian startups in for funding, support

    A new era for entrepreneurship in morocco

    The Forge, hosted at UM6P’s StartGate campus in Benguerir, is backed by UM6P Ventures and the Ibn Rochd Foundation for Science and Innovation.

    Yassine Laghzioui, the Director of Entrepreneurship and Venturing at UM6P and CEO of UM6P Ventures, emphasised its significance: “It is a gateway that connects founders to world-class resources while promoting their local and global impact”.

    The program is structured to guide participants through four key phases: Ideation, Incubation, Acceleration, and Scaling. 

    Each phase is designed to help founders refine their ideas, develop prototypes, secure funding, and expand their ventures internationally.

    Read also: Orange Corners boosts 220 Nigerian startups

    Fostering resilience and leadership

    The Forge prioritises Moroccan founders but is open to entrepreneurs from across Africa. This inclusive approach creates a vibrant ecosystem addressing local and global challenges. 

    Mentorship, advanced technological infrastructure, and access to international networks will benefit participants.

    The program’s duration ranges from nine to twelve months, ensuring that entrepreneurs receive comprehensive support tailored to their needs.

    Laghzioui expressed hope for the future of African startups: “Our ambition is to lay the foundations for future African unicorns”.

    By nurturing talent and providing essential resources, The Forge seeks to position Morocco as a leading hub for innovation in Africa. As the program unfolds, it promises to play a crucial role in shaping the next generation of impactful startups on the continent.

  • Ajé sets new standard for secure online trade with Blockchain and AI, gaining 7,500+ users in 1 year

    Ajé sets new standard for secure online trade with Blockchain and AI, gaining 7,500+ users in 1 year

    Ajé, a Nigerian startup founded by Oluwaseun Odukoya, has made impressive strides in the digital trade, onboarding over 7,500 users within 12 months. 

    This accomplishment highlights Ajé’s blockchain-powered platform’s objective to boost online commerce trust, which was announced on Friday.

    Read also: Ozi targets parcel delivery market with blockchain

    Strategic partnerships

    Ajé has formed strategic partnerships with notable organisations such as Startupbootcamp, Microsoft Azure, and ALX. 

    These partnerships confirm Ajé’s technology and position the company for development.

    Odukoya says, “These partnerships are crucial for scaling our operations and enhancing our platform capabilities,” reflecting the startup’s commitment to leveraging external expertise to improve user experience.

    The partnerships enable Ajé to integrate advanced technological solutions into its platform, such as AI-driven dispute resolution and enhanced security measures. 

    This focus on innovation is vital in a market where trust remains a significant barrier to online commerce.

    As Ifeoluwa Wole-Osho, CEO of Ajé, stated, “Trust remains one of the largest barriers to the growth of online commerce in emerging markets.”

    Read also: JADA’s vision to build a world-class AI workforce in Africa

    Empowering Users

    Ajé is a blockchain-based social commerce platform that enables secure transactions. It offers key features such as a secure escrow service, multi-currency wallets, and effective dispute resolution tools.

    These features empower individuals and businesses to transact safely and transparently across emerging markets.

    The startup has completed over 1,000 escrow-protected transactions and has seen a 32 per cent month-over-month increase in repeat engagement. This rapid growth highlights Ajé’s appeal to users who seek secure and frictionless trade experiences. 

    Odukoya emphasised the importance of community feedback in shaping Ajé’s features: “We listen to our users and adapt our services to meet their needs,” showcasing the startup’s dedication to user-centric innovation.

    Ajé is preparing for a $500,000 pre-seed funding round to scale operations and enhance its platform, aiming for 1 million transactions by 2026 to strengthen its position in Africa’s digital commerce.

  • Funguo selects 18 Tanzanian startups in for funding, support

    Funguo selects 18 Tanzanian startups in for funding, support

    FUNGUO, in collaboration with CRDB Bank’s iMBEJU initiative, announced on Tuesday the selection of 18 innovative Tanzanian startups for its third cohort. This initiative reflects a commitment to empowering local entrepreneurs and fostering economic growth. 

    FUNGUO, founded by the European Union, aims to provide crucial funding and support to startups that tackle pressing societal issues.

    Read also: Orange Corners boosts 220 Nigerian startups

    A competitive selection process

    The announcement followed a competitive application process, with over 400 submissions across Tanzania. 

    The selected startups will receive a total funding pool of TZS 1.8 billion, which includes TZS 1.45 billion from FUNGUO’s Catalytic Grants and TZS 355 million in soft loans from iMBEJU. 

    This funding is designed to help startups scale their operations and create jobs, particularly for youth and women-led businesses, as 40 per cent of the funds are earmarked for women entrepreneurs.

    Ambassador Christine Grau, the EU Head of Delegation, emphasised the significance of innovation in driving economic transformation: “The European Union is proud to support Tanzanian startups with catalytic funding, reinforcing the pivotal role of innovation in driving economic transformation”. 

    UNDP Resident Representative Shigeki Komatsubara echoed this sentiment, highlighting that “the youth of Tanzania are a vital force for change.”

    Read also: Africa’s top tech startups honored at AfricArena

    Impact on Tanzania’s Startup Ecosystem

    The selected startups span various sectors, including agriculture, energy, healthcare, and financial services. They are characterised by their technology-driven solutions that aim to address societal challenges while promoting sustainable development goals (SDGs). 

    FUNGUO’s previous cohorts have raised over TZS 15.5 billion in additional funding and created more than 4,000 jobs, showcasing the initiative’s impact on the Tanzanian economy.

    Hon. Jerry Silaa, Minister of Information ICT & Communication, remarked during the unveiling event that “innovation is the backbone of our nation’s progress,” underscoring the government’s commitment to supporting initiatives that empower local entrepreneurs.

    The FUNGUO program provides financial support and tailored technical assistance to help these startups thrive in a competitive landscape.

  • Juicyway secures $3 million to solve Nigeria’s cross-border payment problem

    Juicyway secures $3 million to solve Nigeria’s cross-border payment problem

    Juicyway, a Nigerian start-up, has closed a $3 million pre-seed funding round to expand cross-border payment facilities. The business aims to assist organisations in sourcing foreign currencies to make payments between countries, which will help Nigeria manage one of its most pressing issues: exports and imports.

    Juicyway will serve Nigeria, the U.S., the UK, and Canada through investors such as P1 Ventures and Ventures Platform, catering to companies that require foreign exchange (FX).

    Read also: MNT-Halan targets UAE’s underbanked with digital salary financing solution

    A smart way to change money between countries

    Established in 2021 by Ife Johnson and Justin Ziegler, Juicyway aims to assist business entities in swapping local currencies into U.S. dollars, Canadian dollars or Tether and other stablecoins such as USDC. 

    Firms can set up meetings with individuals selling the currency on the site. The market sets the prices, and there is clarity. Juicyway guarantees companies can obtain the highest value in their offerings without intermediaries’ intervention.

    Fast growth and deals worth $1.3 billion

    Read also: NIB, Mastercard partner to boost financial inclusion, digital transactions in Ethiopia

    Since its launch, Juicyway has helped over 4,000 individuals pay over $1300 million. The business expanded last year and aims for a broader reach and operations. It has already recorded several transactions in Canada, the UK, and Nigeria. 

    With the addition of stablecoins and DeFi, Juicyway is now making its services more widely available than before, which will aid in growing its user base. Juicyway has restocked its funds, gained significant expertise, and is prepared to show how it can handle cross-border payment issues.