Seedstars World, the global seed-stage startup competition for emerging markets and fast-growing startup scenes, is returning to Uganda on September 30, 2016.
In line with its mission to place the spotlight on entrepreneurs from emerging markets, Seedstars World is travelling to more than 65 countries this year to identify the best seed-stage entrepreneurs and provide them with an opportunity to win up to USD 1 million and network with investors and mentors from around the world. Its previous participants have raised over USD 61M collectively, providing employment to more than 800 people worldwide.
The companies selected to pitch at the Seedstars Kampala event need to be less than 2 years old, have raised less than USD 500,000 in funding and have built a minimum viable product, ideally with existing traction. The Seedstars World team is searching for one additional criterion – the startup’s regional and global scalability. With a strong network of international partners such as Inmarsat, INADEM, Standard Bank and Deloitte, Seedstars World is looking for smart startups that solve regional issues and develop profitable products for the global market, to support their regional businesses and growth.
“The startup ecosystem in Uganda has been growing exponentially and so does the quality of the startups themselves. We are looking forward to see what awaits us in this exciting place and cannot wait for our event on the 30th.” explains Selam Kebede, Associate at Seedstars World.
Up to 10 of the best seed stage startups in Uganda will be invited to pitch for the opportunity to compete at the Seedstars Summit, that annually takes place in Switzerland. Uganda was previously represented by Intership UG.
Stanbic Bank Uganda is the official lead partner for Seedstars World Uganda. “As Stanbic Bank we are committed to nurturing young business talent and supporting the growth of startup companies because we recognize the vital role they play in the transformation of the economy. They bring fresh ideas and a different approach to getting things done, this resonates with the way Stanbic Bank thinks and approaches challenges when we are developing innovative financial solutions. This year’s theme of finding startup companies that will solve regional issues means that they will be able to drive their profitability while solving socio-economic issues”, says Wayne Cook, Head of Business Banking at Stanbic Bank.
In order to provide local entrepreneurs with this opportunity and aiming to deliver the best possible event, Seedstars World is closely working with Outbox Hub who is representing the initiative throughout the year.
“Our collaboration with seedstars has gone beyond just putting Ugandan startups on the global stage. The relationships built from the network and exposure from seedstars is one of the best benefits I did not foresee. This has placed us in a unique position within the local market to extend these relations beyond seedstars participants to the general local ecosystem.” says Richard Zulu, co-founder at Outbox Hub.
Additional support is provided by Brussels Airlines and VC4Africa. “We are excited to team up with the Seedstars local competition in Kampala, Uganda which will select best tech start-ups country-wide. As Brussels Airlines we’re proud to partner with Seedstars so we can support the winners by enrolling them in our TAKEOFF platform enabling them to further develop their business.” says Sebastiaan Spijkers, Country Manager for Uganda and South-Sudan.
All participating startups will also qualify for two major prizes that Seedstars World is running this year: Together with TRECC Startups in Education qualify for the global “Transforming Education Prize” which will award the best startup in the education space from around the world with a prize of over USD 50,000.
In addition, Seedstars World and Intel are collaborating on the “Intel Solutions Challenge” to find the best startups in Hardware, IoT, Cloud and Analytics with the goal of inviting them to a prestigious Demo Day with internal and external partners who will give access to market and funding for the best startups.
