On the 18th of February, the Kenya National Theatre in Nairobi will host some of the most promising startups from Africa as they compete for a chance to share their vision with the world.
The startups are taking part in the Regional Finals of The Challenge Cup, a worldwide tournament for the most promising and world-changing startups, hosted by 1776, a global startup incubator and venture fund.
The aim of the Challenge Cup is to discover the most promising, highly scalable startups that are poised to solve major global challenges.
Winners get a chance to win cash prizes, make international connections, and share their vision on a global stage.
To compete, startups must be less than three years old, have less than $3 million in revenue, have less than $1.5 million in funding, and have a launched product with traction.
The Nairobi edition is being hosted by the World Bank’s Climate Innovation Centers , in conjunction with the iHub and Nairobi Garage.
Kenya’s Twiga Foods won the global competition in 2015, which brought with it a $150,000 investment, and the title of Challenge Cup Champion. The Kenyan entrants must be hoping for Lady Luck to strike again this time around.
Startups advance through three rounds – the Local, Regional and Global Finals. The competing startups in the Nairobi edition are the winners of Challenge Cup Local round events in Accra, Addis Ababa, Casablanca, Harare, Kampala, Lagos and Pretoria.
The regional winners, and a host of wild cards selected on merit, are invited to participate in the Challenge Cup Global Finals in Washington, D.C., where they take part in two days of pitching coaching, mentor meetings, and rehearsing.
The competitors will have one chance to showcase their innovations and businesses to the judges and audience. At that stage, they will be competing for over $1 million in prizes, and they also get to spend time with investors, potential customers, media and other key connections that can help them succeed on a global scale.
Category semifinalists at the Nairobi event will receive an investment of $50,000, and finalists receive an investment of $100,000. The overall Challenge Cup winner receives an investment of $150,000.
Apply for a ticket to the event here.
