Update: The program has shortlisted 11 start-ups who will be considered for funding. Of these, 9 are Kenyan startups. The 11 companies are Accacia Innovation, Onesha, Yusudi, Biasharabot, Skolera, Lakeview Fisheries, Sure Corporation, HelpMum, SaveKubwa, and Usalama.
Norwegian accelerator Pangaea is in Kenya to develop the next generation of entrepreneurs though connecting local startups with funding, expertise, and networks they need to grow. Through the Pangea accelerator programme, the firm will offer up to $50,000 to successful entrepreneurs.
This is great news for Kenyan startups since many entrepreneurs struggle to raise capital while others lack the necessary expertise to run a successful business. In case you have a great idea, Pangea gives you an opportunity to actualize it.
The three months accelerator program was established in 2017 with the aim of connecting African startups with the right investors. The firm partnered with Strathmore University’s iLabAfrica to launch in Kenya. This partnership will benefit local startups from various industries: fintech, healthcare, agribusiness, green initiatives, and education.
Pangea accomplishes its goal through its investment training program and the accelerator. The investment program trains angel investors on how to invest in Africa. The investors are provided with first-hand experience as they get to directly interact with startups. The 6-week training program also teaches investors how to evaluate startups before making an investment.
The applications are open until February the 19th and they are being reviewed upon receipt so its advisable to apply as soon as possible. Once applications close, successful startups will be contacted within 21 days. The 40 successful startups are expected to join the Pangea accelerator program by early March.
In early April, there will be a Demo Day where the startups will present their companies. The top 10 finalists will then be selected to receive the funding of up to $50,000. The accelerator is expected to end on May 25.
Eligibility for the Pangea Accelerator Programme
The startup:
- Is a unique and scalable idea.
- Has generated some income or is in the process of generating some.
- Has the potential to create jobs in the community
- Has a great team that believes in their idea and is ready to work towards achieving success.
What you get
- Skills and tools needed to run your business
- Mentorship from experienced angel investors and successful entrepreneurs and experts.
- Management and operational skills to better run daily operations in your business
- Access to an investor who will help you scale up
- Networking, connecting and sharing with other entrepreneurs
To learn more visit the Pangea accelerator application page.
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