10k2Startup to Invest Up to $50,000 in Promising African Ventures

10k2Startup to Invest Up to $50,000 in Promising African Ventures

By Staff Writer, 22 June 2024

The 10k2Startup initiative is calling on African startups to apply for its program, which offers funding and support to ventures addressing real-world problems. The initiative provides between US$10,000 and US$50,000 in funding, along with strategic guidance.

Founded by Julius Nkansah Owusu-Kyerematen, Google's head of multi-channel mid-market skills, 10k2Startup aims to overcome the significant barriers of funding and strategic guidance that often hinder startup growth. Based in Ghana, the initiative invests in promising startups, offering funding in exchange for an equity stake of 15% to 25%. Its current portfolio includes startups like Homely, Nuelle Organics, and Green Tech.

Owusu-Kyerematen explained that investment decisions are based on the startup's stage, growth potential, and achieved traction. "In essence, the more promising the start-up, the greater the investment and equity stake," he stated.

In addition to funding, 10k2Startup acts as a strategic growth partner, providing expert guidance, helping entrepreneurs overcome challenges, and connecting them with a network of investors, collaborators, and customers to accelerate their growth.

The initiative is open to tech-enabled startups across various industries, focusing on those leveraging cutting-edge technology to create innovative solutions.

Source: Tom Jackson / Disrupt Africa

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