In order to, effectively, halt the spread of the novel coronavirus, most countries initiate lockdown protocol, which affected businesses, as some major industries had to shut down.
However, some firms are still in the business of investing in start-ups and preparing them, to be well equipped, for the post-COVID-19 era.
In spite of the fact that, some places across the world, are still on lockdown, governments are, slowly, easing out the lockdown and allowing people to go about their normal duties, (albeit with some restrictions).
Some VC firms and Angel investors are still in the business of identifying start-ups that, show potential signs of scaling, with the injection of funds.
One such VC firm is Orange Digital Ventures, which, recently has launched a seed challenge, for start-ups from Africa and the Middle East.
The venture will provide a total of seven, (7), start-ups with investments of between, EUR50,000, (US$56,000) and EUR150,000, (US$168,000).
The start-ups will get selected from countries, such as Cameroon, Ivory Coast, Egypt, Morocco, Senegal, Tunisia and Jordan.
They all must show some encouraging signs of high-growth potential and also, must adopt new technologies.
Speaking on this development is Alioune Ndiaye, Chief Executive Officer, (CEO), of Orange Africa and the Middle East, who spoke on the goals of the company and why it is selecting 7 start-ups.
“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” Alioune stated.
The start-up that eventually wins, will secure the total grand prize of EUR150,000 in funding and get three months of support, from Seedstars.
Applications for the Orange Digital Ventures funding will remain, until July 19, 2020, with winners announced, in around September 2020.
Featured Image: investadvocate.com.ng
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