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.
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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.
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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.