Facebook Invests In African Start-Ups with a Funding Contest.
Facebook Enlarging Technology In Africa (Image Credit: borgenproject.org)
Facebook Will hosted in Nairobi Kenya a competition for 15 African start-ups that will culminate in the winner getting a N9million($25,000) award and a visit to San Francisco, the headquarters of the social media giant.
The competition has been organised in partnership with the American technology news site TechCrunch Themed."StartUp Battlefield Africa"
It is the culmination of a months-long search for the most promising start-ups on the continent. Over 1,000 companies submitted applications to participate in the competition.
Facebook says the TechCrunch Startup Battlefield is part of broader efforts to localise its Africa strategy. It follows the visit by Facebook chief executive Mark Zuckerberg to Africa last year.
"The whole aim is to continue the narrative, to bring the eyes of the world to see what is happening in the region," said Chukwuemeka Afigbo, Facebook's head for products partnerships.
According to techcrunch, from the beginning, there were 15 startups coming from all around Africa. After an incredibly fierce competition in Nairobi, Kenya, they have winners of TechCrunch’s first ever Startup Battlefield Africa.
Startups participating in the competition where all been hand-picked to participate in the highly competitive startup competition. They all presented in front of multiple groups of VCs and tech leaders who served as judges for the chance to win the $25,000 and an all-expense paid trip for two to San Francisco to compete in TechCrunch’s flagship event — Disrupt SF 2018.
They where all judged in each of the three categories: Productivity and Utility, Social Good, and Gaming and Entertainment.
The winners are:
Lori Systems Was Named Best of Show and Won the Productivity and Utility category.A startup based in Nairobi, Kenya. It is building a logistics platform to improve cargo transportation across Africa. Lori Systems can optimize truck utilization so that you don’t waste time and money.
The company also handles invoicing, payment and tracking. It’s an all-in-one platform that leverages technology to elegantly solve logistics issues that have been around for a while.
AgroCenta Was Named The Social Good Category Winner: AgroCent is helping more than 8,000 farmers to improve the agricultural value chain. In particular, small farmers in rural areas are facing many challenges to access large markets. The startup is helping them cut out the middlemen, and optimize truck deliveries to large markets thanks to an online marketplace.When farmers get an order, they can handle all the logistics through AgroCenta. More importantly, many farmers can now generate decent revenue, which leads to a better standard of living.
SynCommerce Wins the price in the Gaming and Entertainment Category, which also included fashion. The company has been working on the perfect service for e-merchants. If you’re running a small e-commerce business, you know that it can be painful to list your products on multiple e-commerce websites. SynCommerce lets you list all your products on Shopify, eBay, Etsy, and soon BigCommerce and Amazon. The service can even look at your inventory and hide products on all your platforms if you’ve run out of stock. Existing customers have been noticed a huge increase in sales after switching to SynCommerce.
Previosly another african company the Nigerian start-up Andela, backed by Facebook founder Mark Zuckerberg, has raised nearly U.S.$40 million for the development of IT talent in three African countries
Battlefield Africa Winners (Photo Credit: TechCrunch.com)
Source : IWN Online Editor
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