Norwegian accelerator Pangea launches in Kenya; Pilots 500,000 USD in Investment for 10 Startups
Pangea, a Norwegian platform connecting African startups with international investment and expertise, has launched its accelerator program in Kenya. Pangea has partnered with Strathmore University’s @iLabAfrica and will see the accelerator link up Kenyan startups from across the industry with investors especially the African diaspora which currently remits approximately $160 billion annually.
As a starting point, Pangea has opened a platform for receiving startup applications with the successful ones undergoing a 3 month milestone-based acceleration program. They will also benefit from coaching by international investors & experts. Moreover, the 10 final startup will receive funding of up to 50,000 USD per startup. Pangea’s call for applications opens until the 19th of February 2018.
According to Pangea’s COO Jonas Tesfu, the startup ecosystem continent-wide, if given the right tools and means to invest is as vibrant as any other industry across the globe. Jonas notes that Africa still remains very attractive as a new startup frontier. “Africans and non-Africans alike are looking to be part of the continent’s rapid development and are seeking ways to make this happen. Together with Innovation Norways and other partners we are keen to make this connection successful.”
Pangea’s plan comprises the launch of a crowd investment platform in June 2018, allowing accelerated startups further access to funding. Often faced with a lack of access to capital and the expertise to scale globally, startups in Kenya stand to benefit greatly from Pangea’s crowd investment platform and its business development networks across the globe.
Application forms may be accessed and submitted via Pangea’s website: pangeaa.com.
