Connecting Africa is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 3099067.

Startups

Orange Ventures investing $560K in MEA tech startups

Article Image
Orange Ventures plans to invest a total of €500,000 (US$560,000) in tech startups in the Middle East and Africa (MEA).

The Orange Ventures MEA Seed Challenge is looking to invest in up to seven seed-stage startups, giving each funding of between €50,000 ($56,000) and €150,000 ($168,000) as well as local mentorship.

It is targeting startups at the seed stage, with high growth potential and new technologies at the core of their business.

Orange Ventures believes that entrepreneurs in this region often experience more difficulties in accessing financing due to the low number of active investors, especially for seed investments.

"Investing in and supporting these entrepreneurs is key to the continent's development and an important issue for Orange, which wishes to increase its co-operation with these innovation players," it said.

The challenge will pick a winner per country in Cameroon, Egypt, Ivory Coast, Jordan, Morocco, Senegal and Tunisia.

"As a major player in supporting the digital ecosystem in our territories, it is important for Orange to provide a financing solution in addition to our training and support activities for entrepreneurs in Africa and the Middle East," said Alioune Ndiaye, CEO of Orange Africa and the Middle East.

Applications close on July 19, 2020, and winners will be announced in September. The top beneficiary will receive an investment of €150,000 ($168,000) as well as three months of support from challenge partner, Seedstars.

Startups have until July 19, 2020, to apply to the MEA Seed Challenge.
Startups have until July 19, 2020, to apply to the MEA Seed Challenge.

"This is the first step before strengthening our investment activities in Middle East and Africa, aiming to support the future digital champions throughout their different maturity and growth stages," added Jérôme Berger, CEO of Orange Ventures.

Orange Ventures is a benchmark venture capital investor in Africa, present on the continent since 2017. With €50 million ($56 million) under management, Orange Ventures MEA has invested in five startups, mainly in Series A and B, in Kenya, South Africa, Nigeria and Ethiopia.

— The Staff, Connecting Africa

Innovation hub

Story

Hot startup of the month: Nigeria's Tech Herfrica

Connecting Africa's hot startup is Nigeria's Tech Herfrica, a social impact organization that focuses on the digital and financial inclusion of women and girls in rural areas of Nigeria.

Story

Omdia View: February 2024

Highlights in February 2024 in the Middle East and Africa included 5G launches in Senegal and 5G trials in Egypt as well as Kenya's first 5G MVNO. Airtel also launched a new wholesale connectivity business while MTN and Huawei are planning a joint Innovation Technology Lab in South Africa – that and more in this month's Omdia View.

More Innovation hub

Latest video

More videos

Partner perspectives

All Partner Perspectives

Sponsored video

More videos

Industry announcements

More Industry announcements

Upcoming events

Africa Tech Festival 2024
November 11-14, 2024
Cape Town, South Africa
More Upcoming events

Africa Tech Perspectives

Story

Uber's Marjorie Saint-Lot on inclusion and sustainability in Africa

Uber's Country Manager for Ghana and Cote d'Ivoire, Marjorie Saint-Lot, shares how the ride-hailing company is approaching public-private partnerships, environmentally friendly initiatives and gender inclusion in Africa.

Story

The 100 most influential African leaders in 2023

A new report from Africa Tech Festival and Connecting Africa puts a spotlight on the top 100 African leaders in the telecoms and technology sector in 2023.

Story

Deep dive into East Africa's tech startup ecosystem

New survey reveals a lack of access to investors, reliance on international VCs and global recession trends as the biggest barriers for East African tech startups to access funds.

More Africa Tech perspectives

Guest Perspectives

Story

Omdia View: February 2024

By Omdia Analysts

Highlights in February 2024 in the Middle East and Africa included 5G launches in Senegal and 5G trials in Egypt as well as Kenya's first 5G MVNO. Airtel also launched a new wholesale connectivity business while MTN and Huawei are planning a joint Innovation Technology Lab in South Africa – that and more in this month's Omdia View.

Story

Omdia View: January 2024

By Omdia Analysts

Highlights in January 2024 in the Middle East and Africa included a $200 million fintech deal between MTN and Mastercard as well as 5G network trials by Telecom Egypt – that and more in this month's Omdia View.

More Guest Perspectives

Like us on Facebook

Newsletter Sign Up


Sign Up
Tag id test-002