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  If you’re a startup in Nigeria and you’re looking to get seed funding of between $250,000 and $1.5 million, here’s a chance to do just that.
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Venture Capital for Africa (VC4A) says it’s on the hunt for 8 startups that it would showcase to a global network of investors. These startups must be at the seed stage, a legal entity, and operational for less than 3 years. The VC4A Venture Showcase Seed is a sister program to the VC4A Showcase for Series A scale-ups. Like the latter, this program targets African startups and gives them visibility with over 200 Africa-focused investors from across the world. Between 2017 and 2020, about 80 startups were selected in five venture showcase programs. These startups went on to benefit from deals worth a total of $150 million. This year’s VC4A Venture Showcase Seed program is organized in partnership with the African Business Angel Network (ABAN).

Benefits

Startups stand to benefit from the VC4A Venture Showcase Seed in the following ways:
  • Participate in the Venture Showcase Deal Room, which will have over 200 investor organizations in attendance
  • Mentorship and technical support from VC Investors
  • Between $5,000 and $10,000 in AWS credits, plus tools and resources
  • Join the VC4A Venture Showcase alumni network
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Eligibility

Applicants are expected to meet these conditions:
  • A legally registered for-profit entity that has been operational for less than 3 years
  • Have a product already on the market
  • A management team of a least two people
  • At least one founder is an African national
  • Founders must have received investment above $25,000 from themselves, and their network of family and friends
  • Based in one or more countries in Africa
  • Have a potential market exceeding 1 million people per year
Selection criteria include the commercial value of the startup’s product or service, strategy for growth, the strength of the management team, and market traction and financials.

How The Program Will Unfold

Applications will remain open until 24 July. The selection process will culminate with showcase participants named on September 18. A mentorship program with VC investors will follow, lasting until November 2. Selected startups will participate in the Venture Showcase deal room with over 200 VC investors. They will also be showcased at the Africa Early Stage Investor Summit, taking place between November 4 and 5.

Application

If you would like to apply for the VC4A Venture Showcase for seed-stage startups, click here. Featured Image Source: Benjamin Dada
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This article was first published on 22nd July 2021

ikenna-nwachukwu

Ikenna Nwachukwu holds a bachelor's degree in Economics from the University of Nigeria, Nsukka. He loves to look at the world through multiple lenses- economic, political, religious and philosophical- and to write about what he observes in a witty, yet reflective style.

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