Seedstars World is in search of the best startup in Mozambique. On 15 July 2016, with the support of Standard Bank and local ambassador UX Information Technologies, an ICT4D reference in the country, the competition will see the best seed stage startups compete for the title.
In line with its mission to place the spotlight on entrepreneurs from emerging markets, Seedstars World is travelling to 65 countries globally and 20 in Africa this year to identify the best seed-stage entrepreneurs and provide them with an opportunity to win up to USD 1.5 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 360 employees worldwide.
Brief for the startup in Mozambique
The companies selected to pitch at the Seedstars Maputo event need to be less than two 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.
“After kicking off last year’s Africa tour in Mozambique and finding a young but vibrant ecosystem, we can’t wait to come back and see the massive growth and development that has taken place in the country’s startup ecosystem since last year,” says Claudia Makadristo, Associate for Africa.
Big business backing
After a successful collaboration with Standard Bank in South Africa, where Seedstars World organised a country wide pitching competition, both parties will continue their collaboration in Mozambique.
“Standard Bank Group’s purpose is “Africa is our home, we drive her growth. To this end, our strategy is to lead with business banking and be the banker of choice for SME’s. In line with this purpose and strategy, Standard Bank Mozambique has a vested interest in supporting the creation and sustainability of an entrepreneurial ecosystem in the country to ensure potential and established entrepreneurs have access to the resources they require to flourish,” says Victor Jardim, Head of Personal and Business Banking in Standard Bank Mozambique.
To provide local entrepreneurs with this opportunity and aiming to deliver the best possible event, UX Information Technologies will represent the initiative for the second time.
“UX is bringing another opportunity for Mozambican entrepreneurs to shine at the global stage. This is one of many initiatives our company promotes in Mozambique to bring investment opportunities and exposure to local startups. We can’t wait to see what transforming ideas our youth has been working on!” says Tiago Coelho, Co-founder of UX Information Technologies.
Up to 12 of the best seed stage startups in Mozambique will be invited to pitch for the opportunity to compete at the Seedstars Summit, that annually takes place in Switzerland. Mozambique was previously represented by Moovi, a web/mobile platform that lets anyone create relevant events within their surrounding community. “It was beyond what I could have imagined it could be. The combination of great startup founders, mentors and investors made me realize that the event was worth way more than 1.5 M USD,” says Dario Mungoi, Co-founder and CEO of Moovi. The startup is currently preparing for their trip to San Francisco, where they will be incubated by the leadership business consulting group for a period of three months.
Applications are now open, and those looking to be named as a startup in Mozambique to watch, can apply here.