Applications have opened for Mozambican startups looking to take part in the country’s leg of the global Seedstars World competition, with the winners heading to Switzerland next year to compete for up to US$1 million in equity investment.
Seedstars World, which has already picked winning startups in Egypt and Tunisia, and hosts its South African final tomorrow, is returning to Mozambique on July 15 with the support of Standard Bank and local ambassador UX Information Technologies.
Startups wishing to compete can apply here, with Seedstars looking for companies that are less than two years old, have raised less than US$500,000 in funding, and have built a minimum viable product, ideally with existing traction. The team is also looking for regional and global scalability.
“After kicking off last year’s Africa tour in Mozambique and finding a young but vibrant ecosystem, we can’t wait to come back and see the massive growth and development that has taken place in the country’s startup ecosystem since last year,” said Claudia Makadristo, associate for Africa.
“Standard Bank Group’s purpose is “Africa is our home, we drive her growth”. To this end, our strategy is to lead with business banking and be the banker of choice for SMEs,” said Victor Jardim, head of personal and business banking at Standard Bank Mozambique.
“In line with this purpose and strategy, Standard Bank Mozambique has a vested interest in supporting the creation and sustainability of an entrepreneurial ecosystem in the country to ensure potential and established entrepreneurs have access to the resources they require to flourish.”
To provide local entrepreneurs with this opportunity and aiming to deliver the best possible event, UX Information Technologies will represent the initiative for the second time.
“UX is bringing another opportunity for Mozambican entrepreneurs to shine at the global stage. This is one of many initiatives our company promotes in Mozambique to bring investment opportunities and exposure to local startups. We can’t wait to see what transforming ideas our youth has been working on,” said Tiago Coelho, co-founder of UX Information Technologies.
Up to 12 of the best seed stage startups in Mozambique will be invited to pitch for the opportunity to compete at the Seedstars Summit in Switzerland. Mozambique was previously represented by Moovi, a web and mobile platform that lets anyone create relevant events within their surrounding community.