FirstCheck Africa, a new angel fund with vision of making it easy for African women to raise capital and invest in technology, announces that it will invest US$25,000 each in six (6) female led tech companies and further support them in raising significant pre-seed rounds in 12 months.
Eloho Omame, the MD for Endeavor Nigeria and Odunayo Eweniyi, the co-founder and COO of PiggyVest, co-founded FirstCheck Africa, with the mission of advancing capital, equity and leadership to African women through entrepreneurship and technology.
As to who can join this early believers of African women tech entrepreneurs, FirstCheck Africa will welcome into its fold bold women determined to launch their first tech startups. It is also for partners who also are with the conviction that the potential of African women led startups have been overlooked by mainstream venture platforms.
Reasons for this ambitious female focused angel fund
- The early-stage investment ecosystem in Africa hasn’t benefited women led tech startups very much. Where in 2019, the report is that less than 5% of global VC funding went to women led companies, more so, those in Africa.
- Women led startup founders get all the needed mentorship there is to give but receive less financial backing from VCs.
- FristCheck Africa believes supporting women founders should be on the basis of economics and less on social impact. This is true for them because in pitching, women tend to get investors attention if the pitch leans towards social impact but such funding are not adequate enough to build high-impact tech companies.
- The Early Believer thinks women in tech deserve to play equal role of building Africa’s next generation of companies. This call is an effort for Africa women to build wealth and influence in the technology entrepreneurship ecosystem as early investors.
Practical solutions FirstCheck Africa believes in
The access of capital to women entrepreneurs in Africa must be very well intended and female led. With a growing list of women-led venture capital funds, like Portofolia and All Raise, they are turning their previous cold funding experiences into a competitive advantage for the challenges women face.
The solutions they believe lies very much at the apex of the startup funding funnel, where there is the need to increase the pipeline of women entrepreneurs, address the biases faced by women as well as closing the gender confidence gap for women to easily raise initial startup capital.
Last but not least, the need for strong role models to inspire them. Women need powerful representation on platforms that easily allows for scaling. They also need to be playing major decision making roles.
What FirsCheck Africa is providing
- Writing female founders’ first checks and be their earliest believers
- Act as active connectors and collaborators, using their networks and resources to accelerate efforts
- They are prepared to spend their time, financial and social capital in helping female led startups validate their ideas and gain all-important early traction
- They will assist in raising the next stage of startup capital
In 2021 alone, FirstCheck Africa will be investing up to US$25,000 each in six (6) women led tech-enabled startups and closely working with them to raise significant pre-seed funding.
The co-founders say, FirstCheck Africa is open to all whiles they give premium to women that want to invest in tech by putting their money behind venture backed startups. This is an exciting moment for girls and women who really need somebody to believe in their tech business without any bias but strictly at economic viability of the company. Find out more about them here.
MEST Africa: Applications Opens to Aspiring Tech Entrepreneurs in Class of 2022
MEST Africa calls for applications into the Meltwater Entrepreneurial School of Technology Training Program Class of 2022. This is a twelve (12) month graduate-level training program for aspiring tech startup founders on the continent of Africa. Deadline is the 29th of April, 2021.
The MEST Africa entrepreneurs have developed solutions addressing local, regional and global markets, received follow-on funding from global investors and gotten into top accelerator programs such as Y-combinator, 500 startups and TechStars.
The MEST Africa Training Program is the leading entrepreneurial training program in Africa in business, communications and software development which includes extensive hands-on project work for trainees, culminating in a final pitch and the chance to receive seed investment and grow their businesses.
The successful world-class MEST Training Program annually runs with the help of an internationally recognized faculty. Its teaching fellows come from some of the best universities around the globe with the likes of Oxford, Stanford, Harvard and more.
They as well offer selected entrepreneurs-in-training (EITs) the opportunity to be mentored by real-life Entrepreneurs, CEOs and other executives from all over the world. Some of its guest lecturers are executives of Uber, Facebook, Safaricom, Samsung, Interswitch, etc.
This year, MEST Africa says it is welcoming entrepreneurs living in Ghana and Nigeria mainly because of the way organizations operate around the world today due to the COVID-19 global pandemic, causing travel restrictions and moving many workplaces to adopt digital solutions.
Who qualifies to to be accepted into the MEST Africa Training Program?
- A degree from a top university or Technical College or equivalent experience with at least two (2) years corporate and startup experience (preferred)
- Deep skills in either communications, business or software development (from the onset or acquired during the Pre-Learning stage)
- Young persons crazy about tech and entrepreneurship, and how to use technology to achieve business results
- Should be ready to commit to a full residential program for a whole year
- Disciplined, motivated self-starter who can work and deliver on assignments and projects – demonstrate this by completing the required Pre-Learning courses and MEST’s rigorous recruitment process
- An entrepreneurial spirit and strong desire to start a company
- Ability to communicate candidly and persuasively
- Ability to work well in teams, proven academic or professional excellence
- Demonstrated leadership abilities
- Confident and independent thinking
- Excellent people skills
The MEST Africa Training Program commences on the 1st of September and ends on the 31 of August, 2022. All interested persons should find out more about the Curriculum Structure. You will complete their pre-learning courses, take an aptitude test and the Training Program Application form. This is a fully sponsored training for all qualified entrepreneurs.
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