Kampala, Uganda, 14rd of July - Seedstars World, the global seed-stage startup competition for emerging markets and fast-growing startup scenes is returning to Uganda. With the support of main sponsor Stanbic Bank and the local host Outbox hub, Seedstars World will be holding a dynamic pitch event on the 4th of August. In line with its mission to place the spotlight on entrepreneurs from emerging markets, Seedstars World is travelling to more than 75 countries this year to identify the best seed-stage entrepreneurs and provide them with an opportunity to win up to USD 500,000 and network with investors and mentors from around the world. Its previous participants have raised over USD 61M collectively, providing employment to more than 1000 employees worldwide.
Speaking on behalf of Stanbic Bank Uganda, the main partner for Seedstars World in Uganda, Wayne Cook - Head of Business Banking Stanbic Uganda said, “We are extremely proud and excited to be sponsors of the Seedstars project. This is a fantastic initiative which gives young and upcoming entrepreneurs across the country the opportunity to show case creativity and innovation in business. As Stanbic Bank, we strongly believe in nurturing young business talent and supporting the growth of start-up companies because we recognize their potential and what their new concepts can do to transform society."
The companies selected to pitch at the Seedstars Kampala event need to be less than 2 years old, have raised less than USD 500,000 in funding and have built a minimum viable product, ideally with existing traction. The Seedstars World team is searching for one additional criterion - the startup’s regional and global scalability. With a strong network of international partners such as BBVA, Merck, Enel, Trecc and Standard Bank, Seedstars World is looking for smart startups that solve regional issues and develop profitable products for the global market, to support their regional businesses and growth.
In order to provide local entrepreneurs with this opportunity and aiming to deliver the best possible event, Seedstars World is closely working with Outbox Hub, who is representing the initiative throughout the year. “Our fourth collaboration with Seedstars is yet again another engagement we look up to this year. Together with Seedstars, we have been able to demonstrate to the local ecosystem that simplicity of solutions and businesses is key to driving entrepreneurship growth based on the teams that have represented Uganda. The Kampala event yet presents another opportunity for our local community to share knowledge and be part of the discussion on how to grow entrepreneurship in emerging markets.” says Richard Zulu, co-founder at Outbox Hub.
“Seedstars World is a platform connecting investors to the next generation of startup entrepreneurs, pulling the spotlight from Silicon Valley and Western Europe. Uganda has never failed to produce top notch entrepreneurs and we are happy to be back again” explains Claudia Makadristo, Regional Manager for Africa at Seedstars World.
Up to 10 of the best seed stage startups in Uganda will be invited to pitch for the opportunity to compete at the Seedstars Summit, that annually takes place in Switzerland. At the same time, Seedstars World is also working very closely with Enel Green Power to source the most innovative business models in the energy sectors and ones that are fostering socio-economic development in rural villages in Africa. Up to 5 best startups in this sector will be invited for an exclusive RES4Africa networking event taking place later this November in Nairobi and compete for an Africa Energy Prize which consists of a financial contribution and a three-month acceleration programme for a total value of up to 50,000 USD.
Applications are open now, and startups can apply here: https://seedsta.rs/kampala2017