Following up on their partnership with BancABC, German-based Afrocentric Startup Deutsch Connect has secured a €100 000 investment fund in partnership with Idea Seed Africa. This coalition will see the launch of the ” Deutsch – Africa Pitch ” challenge which is exclusively for Startups within the Deutsch Connect – Idea Seed Africa network in Agritech, Healthtech Fintech, Digitalisation and Logistics offering up to €100,000 in equity investment to build and scale successful businesses that add value to African economies.
The selected startups will pitch in front of global expert judges from the Deutsch Connect and Idea Seed Africa network.
“ We are excited to be involved in this project that recognizes the talent in Africa but will also assist African startups scale from local level to global level ( glocal ). Our German partners believe in the full potential growth that the African startups can achieve. Considering how six of the worlds fastest-growing economies are in Africa, lucrative investment opportunities need to be harnessed”
Phenisiah Sabeta , Head of Projects at Deutsch Connect.
This Pitch Challenge heralds the beginning of a collaboration between Deutsch Connect and Idea Seed Africa which will see the two partners identifying African and German Startups and Companies for B2B Matchmaking, Market linkages and Investment opportunities.
Speaking from his Nigerian base, Idea Seed Africa Founder Marcus Becker said the following
“My focus for the last years has been on getting people’s attention and attracting more interest on Africa’s startup ecosystem so that this results in more investments. The need for these smaller size investment tickets is very high especially for startups at an early stage. Since Covid-19 it has even become much harder for founders to raise money. That’s why we are even more happy to support the current investors with the scouting, evaluation and investment decision.”
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Earlier this year we got a chance to speak with Deutsch Connect’s CEO Kumbirai Chipadza about the opportunities for Zim startups in Germany and the EU. You can listen or download the podcast with the link below:
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