Seedstars World has opened applications for its Kenyan event as it kicks off the seventh edition of its emerging markets startup competition in Africa.
The global Seedstars World competition will select national winners from all over the world and bring them together at the Seedstars Summit in Switzerland next year, where they will compete for up to US$500,000 in equity investment and other prizes.
Applications are open until June 14 for the Kenyan leg of the event, which will take place at Nailab on June 28 and will see around 10 Kenyan seed-stage startups pitch for the chance to represent the country at the global final. Last year’s local winner was insurtech startup Bluewave.
Companies applying to pitch must have raised less than US$500,000 in funding and have built a minimum viable product, ideally with existing traction. The Seedstars team will also look at a startup’s potential regional and global scalability.
“We are very excited to come back to Kenya for the seventh time! The stakes are higher than ever as we’ve been in this ecosystem for years now, and know there are companies in Kenya developing high-quality products. We are looking for the best,” said Claudia Makadristo, regional manager for Africa at Seedstars.
Seedstars will visit around 30 African countries over the course of this year, hosting local events in Sierra Leone and Cape Verde for the first time. There are some changes to the usual format, with bootcamps to be held prior to each local event for up to 30 pre-selected startups. There are also more prizes to be won, while startups will also gain access to Seedstars’ Investment Readiness Programme.
Meanwhile, the US$100 million Seedstars Africa investment fund will be active later this year, making all applicants eligible to receive early-stage investment. This fund will also cater to alumni startups from previous years.