Orange Ventures has launched the Orange Ventures Middle East And Africa (MEA) Seed Challenge for startups in the Middle East and Africa. Through this challenge, Orange Ventures aims to give entrepreneurs in Africa and the Middle East the means to get started and develop.
“As we emerge from this unprecedented health crisis, it is our responsibility to strengthen our investment activities in Africa and the Middle East. We are proud with the Orange Ventures team to launch this first initiative which aims to identify, help and promote exceptional entrepreneurs, who have the courage and daring to launch new projects and who believe like us in the potential of this continent,’’ says Jérôme Berger, CEO of Orange Ventures.
Here Is What You Need To Know
- Through the challenge, Orange Ventures plans to invest € 500,000 in startups.
- Up to seven start-ups will be selected to benefit from an investment of between € 50,000 and € 150,000.
- The Orange Ventures MEA Seed Challenge is open to start-ups in Cameroon, Ivory Coast, Egypt, Jordan, Morocco, Senegal, and Tunisia.
“As a major player in supporting 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,’’ Says Alioune Ndiaye, CEO of Orange Africa and the Middle East.
How Startups May Apply
- This challenge is aimed at players in the seed phase, with high growth potential, who rely mainly on new technologies.
- These startups will be able to apply from June 1 and until July 19, 2020 on https://digitalventures.orange.com/mea-seed-challenge/ The winners will be announced in September 2020.
- The main beneficiary, who will receive an investment of € 150,000, will also receive support for 3 months by Orange’s partner Seedstars.
A Look At What Orange Ventures Does
- Orange Ventures is a benchmark venture capital investor in Africa, present on the continent since 2017. Endowed with 50 million euros, Orange Ventures MEA has invested in 5 start-ups, mainly in Series A and B, in Kenya, South Africa, Nigeria and Ethiopia.
- Orange Ventures is a 350 million euros multi-stage technology investment fund with an international focus. It finances innovative startups in Orange’s strategic interest areas (Networks & IT, Digital Business, Cybersecurity, and Fintech) and beyond (Consumer platforms, E-gaming, Edtech, Health, etc.).
- Orange Ventures is also rolling out initiatives dedicated to the African and Middle East region, and businesses with an impact. Supported by the Orange group, the fund offers startups in which it invests access to the Group’s expertise and the establishment of synergies with its numerous business units and its 263 million customers in 29 countries. For more information, visit ventures.orange.com or follow them on Twitter @Orange_DV.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer