DEMO Africa has released the names of the forty start-ups that have qualified to launch their product on the DEMO Africa stage in September 2014. Topping the list is Nigeria with a total of 14 start-ups qualifying followed by Kenya, Ghana and Egypt.
Appsafrica.com a proud Demo Africa 2014 partner, recently reported how one start-up will win up to USD 500’000 in equity investment. Not surprisingly more than 400 hundred applications were received but only 242 had met the threshold for the adjudication. Nigeria, Kenya and Ghana recorded the highest number of entries.
Communication, finance and banking entries popular
Out of 12 categories for application, communication attracted the highest number of applications with a total of 76 applications received, and it’s no wonder that this category will have the highest number of representation with 14 projects of the final forty being in this category. Finance and banking will also have a good representation of 8 out of 18 entries received. Other categories that will have high representation on the DEMO Africa stage include retail, health and education. Start-ups, however, shied away from Water & Sanitation, and Waste Management & Recycling with no entries in these two categories.
Africa’s new industrial revolution
“Africa may have missed out on the industrial revolution, but we surely will not in the ICT revolution. Through innovation, we will put Nigeria and Africa in general on the ICT map” said Omobola Johnson the Nigeria Minister for Communication Technology. The DEMO Africa Executive Producer Harry Hare, acknowledged the efforts by all the participating start-ups and called upon the investors to support the work of these young entrepreneurs. ”We had really amazing entries this year, but unfortunately the DEMO Africa team can only accommodate forty for now. The high number of entries is inspiring. It only shows that entrepreneurs have risen above the fear of venturing into new waters to create new products. This in itself shows that confidence levels in Africa made solutions are steadily rising” he told Appsafrica.com.
Start-ups chance to launch products
The selected forty start-ups will have a chance to launch their products to an ecosystem of VCs, investors, tech acquisition specialists, IT buyers and media from across the region and around the globe. They will also benefit from one and a half month coaching and mentorship program to be spearheaded by DEMO Africa and the US State Department. The Mentorship program will be coordinated by Dr. Susan Amat, CEO, VentureHive and will include both local and international mentors and coaches.