Startups in the inaugural cohort of the Pangea accelerator have pitched their solutions at a Demo Day held in Nairobi, with three of them winning up to US$50,000 investment each.
Disrupt Africa reported earlier this year Norway-based startup support platform Pangea partnered Strathmore University’s @iLabAfrica, Liquid Telecom and BDO, to pilot a new three-month accelerator programme.
40 startups from Egypt, Kenya and Nigeria participated in the programme, with 11 finalists selected in April, to be considered for funding.
Pangea’s investor network of 31 Scandinavia-based investors – drawn from Accenture, KPMG, and Procter & Gamble, among others – mentored the 11 shortlisted startups for 1.5 months in the lead up to Demo Day last week.
Three Kenyan startups emerged winners at Demo Day, and were selected to receive up to US$50,000 investment each – with the exact amount and terms currently under negotiation.
“The Pangea experience couldn’t have ended better. Onesha comes out more energized, refreshed and ready to face the exciting journey ahead, equipped with insights from the programme,” Onesha chief executive officer (CEO), Bernard Momanyi Nyagaka said.
Pangea has decided to introduce a follow-on programme for a number of the accelerator participants, offering the startups access to the Pangea advisory board, help with marketing, strategy, business planning, as well as investor introductions for the next 12 months.
“Our ambition is to use our network to help the startups grow even though the accelerator has finished. Pangea has a large network within the investor community and look to help more startups receive funding,” said Pangea’s CEO, Jonas Tesfu.