CHIL Group opens applications for its $90K startup fund

Shamim Nabuuma Kaliisa, the CHIL Group co-founder.

By Our Reporter

CHIL Group has launched its new venture capital fund for African tech startups to get a chance to scale their impact-driven companies.

The fund, worth $87,500, is geared towards early-stage African technology startups whose products are in line with the continent’s development.

This initiative seeks companies and founders in Artificial Intelligence, FinTech, Property-tech, and retail sectors; as long as they embody values that investors align with. The program is especially encouraging women-led startups and startups promoting gender equality to apply.

Startups applying are expected to have achieved a proof of concept and are ready to scale. CHIL Group has also added a list of criteria that startups who want to participate in the program have to fulfil.

Four outstanding startups will benefit, with guaranteed international media coverage and investor pitch training.

According to Shamim Nabuuma Kaliisa, a co-founder and shareholder in the company, at least $35,000 of the fund is dedicated to getting media exposure for the startups. She adds that CHIL Group wants to support founders who are working on the many challenges Africa faces that technology can instantly solve.

Deadline for application is 3rd March 2023, and winners will be notified by the end of July 2023. Interested startups can apply here.