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Tag: MEST Africa

  • Agritech startups can apply for the $50,000 MEST Africa Challenge 2024

    Agritech startups can apply for the $50,000 MEST Africa Challenge 2024

    The Meltwater Entrepreneurial School of Technology (MEST Africa) and the Norwegian Embassy are hosting the 2024 MEST Africa Challenge to find and support exceptional AgriTech entrepreneurs solving West African agricultural problems.

    AgriTech startups from Benin, Cape Verde, Cote d’Ivoire, Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mauritania, Nigeria, Senegal, Sierra Leone, Mali, and Togo are welcome to apply for the sixth round of the MEST Africa Challenge.

    The successful startup will be awarded USD$50,000 in equity funding, gain access to MEST’s vast global network, form valuable partnerships, receive mentorship, and secure investment opportunities to expedite its growth and expand its global reach.

    Read also: Digital economy as a growth-promoter for Africa – Africa Soft Power Summit recap

    MEST Africa Challenge 2024 requirements

    These agritech startups must be early-stage tech companies that have been around for less than three years to be eligible. They also need to have at least $5,000 in recurring monthly income and proof that they’ve been making that much money for at least six months. They couldn’t have raised more than $1 million altogether.

    It’s also best for startups to have been registered in Delaware and have at least two people on their starting team. This company can run any business, from B2B to B2C, B2B2G, and more. Last but not least, all startups and competitors must be able to speak English when they pitch.

    The application deadline is 4 October 2024, and the Top 20 will be chosen on 14 October 2024. The semi-finals will be held online on October 29th and 30th, 2024. The finals will be held in person at a later date that will be shared.

    AgriTech entrepreneurs can apply here.

    Since its founding, MEST has invested over $30 million in training over 2,000 entrepreneurs and supports 90 early-stage tech firms in AgriTech, FinTech, SaaS, eCommerce, Digital Media, and Healthcare. For AgriTech companies, this year is the best chance ever to “Find Their Soil” and grow their businesses to the next level. 

    Read also: Highlights from the Science of Trade (SOT) conference organised by Ascends Studios Foundation

    About MEST AFICA

    The Meltwater Entrepreneurial School of Technology (MEST Africa) was established to nurture Africa’s next generation of technology entrepreneurs. Founded by Meltwater, a global leader in media intelligence and supported by the Norwegian Embassy, MEST Africa provides training, funding, and mentorship to early-stage startups. The program is designed to empower entrepreneurs with the skills, resources, and networks needed to build successful technology companies.

    MEST Africa’s initiative aligns with Norway’s commitment to fostering innovation and entrepreneurship in Africa, creating opportunities for collaboration and growth. By combining local expertise with international support, MEST Africa and the Norwegian Embassy drive economic development and technological advancement across the continent.

  • MEST Africa opens applications for startup pitch competition

    MEST Africa opens applications for startup pitch competition

    MEST Africa has opened applications for its 2023 Challenge Startup Pitch Competition for African startups.

    The MEST Africa Challenge is a fantastic chance for early-stage technology entrepreneurs to have access to finance, mentoring, and unrivalled possibilities that may help them reach their full potential and release new products.

    The 2023 programme, which is being held in conjunction with Absa Bank this year, is aimed towards early-stage technology startups with operations in Ghana, Nigeria, Senegal, Kenya, and South Africa.

    The MEST Africa Challenge presents an array of remarkable advantages to the startups that partake in it. The winning individual shall be bestowed with an equity investment amounting to USD 50,000, thereby granting them a pivotal source of fiscal sustenance to expedite the expansion of their entrepreneurial endeavours. Furthermore, the triumphant individual and other outstanding contenders will be given the benefit of accessing MEST Africa’s expansive global community and intricate networks, thereby unveiling a plethora of invaluable partnerships, guidance from seasoned mentors, and prospects for lucrative investments. This platform serves as a catalyst for startups, propelling them towards the subsequent stage of their business expansion and facilitating their attainment of global recognition.

    Read also: MEST Africa and the Mastercard Foundation have chosen 12 Ghanaian SMEs to participate in the Venture Acceleration Program

    Witnessing remarkable advancements in technology innovation

    Following in the footsteps of previous years, the 2022 MEST Africa Challenge was won by Kwely, a Senegalese business-to-business (B2B) e-commerce firm. In the face of such intense competition, Kwely’s solutions stood out, and their success is a source of motivation for businesspeople all around Africa.

    “This year’s tagline, ‘Unlock Your Startup Potential’, resonates deeply with the vibrant technology landscape we are witnessing in Africa today. With the remarkable advancements in technology innovation and adoption across the continent, this year’s competition is poised to showcase groundbreaking ideas and solutions. According to Ashwin Ravichandran, Portfolio Advisor and MEST Africa Challenge Lead, “I am confident that the MEST Africa Challenge will uncover exceptional startups that will shape the future and drive positive change in Africa and beyond.”

    There is a strong network of African tech innovators owing to the MEST Africa Challenge pitch competition, which has attracted thousands of applicants from across the continent over the years, gained international attention, and forged collaborations. Startups including Kilimo Fresh from Tanzania, OZE from Ghana, Snode Technologies from South Africa, Waya Waya from Kenya, Accounteer from Nigeria, and the most recent champion Kwely from Senegal have all benefited from the competition’s exposure.

    Presenting an unprecedented global platform 

    Startups must have a monthly recurring revenue of at least $5000, have raised a total of $1,000,000 or less in investment, and be no more than three years old to be qualified for this programme.

    The companies must be registered in Delaware (preferred) and have at least two founding team members and six months of recurring income.

    The application period has opened and will close on 9th October 2023.

    The MEST Africa Challenge (MAC) is a Pan-African pitch competition for technology startups in their early stages looking to gain momentum and grow. 

    The competition has become a staple in Africa’s startup technology scene, providing hundreds of entrepreneurs from all over the continent with an unprecedented global platform from which to raise capital, build industry networks, and increase their visibility.

  • MEST Africa and the Mastercard Foundation have chosen 12 Ghanaian SMEs to participate in the Venture Acceleration Program.

    MEST Africa and the Mastercard Foundation have chosen 12 Ghanaian SMEs to participate in the Venture Acceleration Program.

    MEST Africa and the Mastercard Foundation’s venture acceleration program, MEST Scale, have selected twelve fast-growing small and medium enterprises (SMEs) in Ghana to join in the inaugural cohort.


    MEST Grow is a venture acceleration program that helps small businesses improve their operations, address major technological gaps, and improve their ability and capacity to grow.


    Why They Were Chosen For MEST Scale Accelerator Programme

    The participating SMEs were chosen for their commercial viability and great potential to develop their operations to provide job opportunities for young people across a variety of industries, including project and facility management, marketing, health care, and agriculture. For a year, the accelerator will provide these SMEs with tailored strategic, operational, and technical support, allowing them to generate impact and scale up successfully.
     
    “SMEs are vital to Ghana’s economy.” Angela Duho, the Program Manager for MEST Scale, said that her goal is to help them become more efficient and to have a model that ensures quality in all aspects of product and service delivery wherever they work.


    Selected SMEs For The MEST Scale Accelerator Programme


    Accra Handyman: provides convenient facility booking as well as administration and maintenance services.

    Agro Innova: is an AgriTech company that uses digital technologies to address issues confronting smallholder farmers and the agricultural value chain as a whole.

    BTL Africa: is a marketing solutions firm that specializes in experiential, digital marketing, consumer engagement, and content generation.

    Claron Health International:, through its telemedicine platform and traditional medical services, helps people get the health care they need in a way that is personalized, accessible, and affordable.

    Darsfield Village Farms & Outgrowers (Darsfarm): Darsfarm uses technology to solve the poor level of productivity, processing, and distribution in agriculture in rural Ghana through their Darsfield EarthCare & Farm-Tech Foundation (Darsfoundation) project.

    Green Gold Farms: is an agricultural business that uses large-scale farming to fight poverty, a lack of economic opportunities, malnutrition, and other problems in Northern Ghana.

    Medpharma Alliance International Limited: is making health care more modern by offering e-consultations and e-prescriptions through specialists in the field.

    mNotify: is a cloud-based omnichannel communications gateway that assists organizations in promoting, managing and scaling their digital consumer engagement activities.

    The National Beekeepers Association: teaches small-scale farmers how to use sustainable farming methods and beekeeping practices to improve pollinator services and crop yields while also increasing their income.

    Organic Trade and Investments (OTI): is a company that exports organic and natural ingredients from Africa to the rest of the world. They want to make these ingredients more available to people all over the world.

    SnooCode: is an offline digital address system that allows anyone with a smartphone and the SnooCODE software to generate a memorable 6-or 7-digit alpha-numeric address code unique to their location.

    XL Africa Group: is a multi-faceted outsourcing firm that offers services in human resources, project and facilities management, courier and delivery services, training and development, and construction.

    More on MEST Scale Accelerator Programme

    Unlike previous programs, the MEST Scale Accelerator is intended to assist SMEs in identifying the problems that impede their growth potential and limit their access to finance. MEST Africa will provide participating enterprises with hands-on and strategic coaching on how to manage their specific scale-related difficulties while establishing operational and technological efficiencies that increase their growth over the course of the year.
     
    High-potential small businesses, a model of service delivery that is tailored to each customer, and Mastercard Foundation’s experience working with technology start-ups will help these small businesses grow, says Chirag Shamdasani, the Mastercard Foundation’s Ghana Program Lead, Innovation.