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Applications for the 10k2Startup initiative are now being accepted from African startups.
This programme seeks to provide cash and other forms of support to businesses that are tackling real-world issues, with a target range of $10,000 to $50,000.
Founded by Google’s head of multi-channel mid-market capabilities, Julius Nkansah Owusu-Kyerematen, 10k2Startup acknowledges that startups face significant challenges when it comes to securing finance and receiving strategic counsel, which hinders their growth and ability to scale.
The Ghanaian initiative tackles these problems head-on by soliciting contributions of $10,000 to $50,000 USD in return for a 15% to 25% equity stake. Companies such as Homely, Nuelle Organics, and Green Tech are part of its current portfolio.
The startup’s current status, growth potential, and level of traction are the three main factors considered when making an investment choice. According to Owusu-Kyerematen, the general rule is that funding and stock stakes are proportional to the startup’s potential.
Along with supporting businesses, 10k2Startup also aims to act as a strategic growth partner.
“This means providing expert guidance every step of the way, helping entrepreneurs navigate challenges, and connecting them with our extensive network of investors, collaborators and customers to accelerate their growth,” Owusu-Kyerematen said.
Seeking tech-enabled firms that develop revolutionary solutions through the utilisation of cutting-edge technology, the project is industry-agnostic.
“We seek founders who embody the core qualities essential for success – passion, tenacity, discipline, and strategic acumen. We value founders who confront challenges head-on, transforming obstacles into stepping stones towards their ultimate vision,” said Owusu-Kyerematen.
“Meticulous planning, unwavering focus, and a relentless pursuit of excellence are qualities we hold in high regard – showcasing these attributes sets the stage for monumental achievements and positions your startup on the path to success.”
For the second round of 10k2Startup, interested businesses have until July 15 to apply.
By July 31, startups who made the cut will be called to a 30-minute pitch session.
Then, within two weeks, we will make a decision regarding the funding.
To apply or for more information visit the website.
Read more on Tech Gist Africa:
The Ecobank Group launches its Fintech Challenge for 2024
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