Startups from Africa are urged to submit their applications to the 10k2Startup program for funding and support from US$10,000 to US$50,000, with the goal to fund and support ventures to address the issues they experience in their businesses.
Started by Julius Nkansah Owusu-Kyerematen who is the head of multichannel mid-market talents at Google, 10k2Startup understands that resources and direction are two important levers that constrain growth and scale among startups.
The Ghana-based initiative takes this on squarely by providing funding between US$10,000 and US$50,000 in return for an equity between 15% and 25%. It currently has investments in companies such as Homely, Nuelle Organics, and Green Tech.
“The investment decisions are based on the stage of the startup, its potential for growth, and the traction it has achieved. In essence, the more promising the start-up, the greater the investment and equity stake,” said Owusu-Kyerematen.
Promisingly, 10k2Startup also wants to be a growth partner for the startups it funds.
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This will entail assisting entrepreneurs at all the stages, offering guidance on the issues they face and linking them up with the investors, partners and customers, already recorded in the database, as stated by Owusu-Kyerematen.
It is not restricted by any industry and is only looking for a startup that is technology-driven in some way and is incorporating technologies to come up with innovations.
“We seek founders who embody the core qualities essential for success – passion, tenacity, discipline, and strategic acumen. We value founders who confront challenges head-on, transforming obstacles into stepping stones towards their ultimate vision,” Owusu-Kyerematen added.
“Meticulous planning, unwavering focus, and a relentless pursuit of excellence are qualities we hold in high regard – showcasing these attributes sets the stage for monumental achievements and positions your startup on the path to success.”
Any interested ventures can apply for 10k2Startup second cycle until July 15. Then, qualified start-ups are invited for a 30-minute pitch by July 31 only. Funding decisions will be made by the same within two weeks of the proposal’s submission.
