Orange Digital Ventures has launched a seed challenge for startups from Africa and the Middle East, which will provide up to seven startups with investments of between EUR50,000 (US$56,000) and EUR150,000 (US$168,000).
Aimed at startups with high-growth potential and based on new technologies, the challenge is making available EUR500,000 (US$560,000) in funding and is open to startups in Cameroon, Ivory Coast, Egypt, Morocco, Senegal, Tunisia and Jordan.
“As a major player in support of the digital ecosystem in our territories, it is important for Orange to provide a financing solution in addition to our training and support activities for entrepreneurs in Africa and the Middle East,” said Alioune Ndiaye, chief executive officer (CEO) of Orange Africa and the Middle East.
The winning startup, which will secure the main prize of EUR150,000 in funding, will also receive three months of support from Seedstars. Applications are open until July 19, with winners announced in September.