The application process for the 2023 edition of the MEST Africa Challenge (MAC) is now officially open. In collaboration with Absa Bank, this challenge is seeking to engage early-stage technology startups operating within Ghana, Nigeria, Senegal, Kenya, and South Africa.
According to a document obtained by Nairametrics, the MEST Africa Challenge presents a unique opportunity for startups to secure an equity investment of USD 50,000. This financial injection acts as a catalyst for their journey towards accelerated business expansion. Beyond the monetary support, the victor of this competition, alongside other outstanding participants, will gain access to MEST Africa’s extensive global community and networks. This access will open doors to invaluable partnerships, mentorship, and avenues for potential investment. The platform not only propels startups but also propounds them into the subsequent phase of their business development, ultimately granting them worldwide recognition.
The theme for this year, “Unlock Your Startup Potential,” resonates with the ever-evolving technological landscape that currently characterizes Africa.
Building on Previous Successes
Since its inception, the MEST Africa Challenge pitch competition has garnered numerous applications from across the African continent. Not only has this event achieved international acclaim, but it has also fostered meaningful partnerships while nurturing a vibrant community of African tech entrepreneurs. In the previous year, the MEST Africa Challenge bestowed its accolade upon Kwely, a Senegalese B2B e-commerce startup. Kwely’s innovative solutions set them apart in the fierce competition, serving as a wellspring of inspiration for entrepreneurs across Africa. This triumph not only spotlighted Kwely but also contributed to the growth of other winning startups like Kilimo Fresh from Tanzania, OZE from Ghana, Snode Technologies from South Africa, Waya Waya from Kenya, and Accounteer from Nigeria.
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Anticipating Innovation
Given the exceptional strides in technological innovation and adoption sweeping across the continent, this year’s competition is poised to showcase groundbreaking ideas and solutions. Ashwin Ravichandran, Portfolio Advisor and Lead of the MEST Africa Challenge, expressed confidence in the challenge’s potential to unearth exceptional startups that will drive positive change in Africa and beyond.
Eligibility Criteria
For startup ventures to be eligible for the program, they must operate within the agri-tech, biotechnology, and medical research sectors. They are required to have a monthly recurring revenue exceeding $5,000 and must have accumulated funding of $1 million or less. Additionally, startups should have been in existence for three years or less, possess at least six months of recurring revenue, include a minimum of two founding team members, and be registered within the domain of Delaware, United States. The application deadline is October 9th, 2023, and interested parties can apply here.
MEST Africa Challenge 2023
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard