The competition, which was open to only start-ups in Cameroon, took place at GICAM in Douala and attracted over 45 applicants all competing to be selected for the CAN investment. Subsequently, 10 start-ups we’re invited to pitch on January 31, 2015, in a joint #Pitch237 event with tech hub ActivSpaces, which were selecting eligible start-ups for their pending Activation boot camp.
After the rigorous process, Djoss.tv, New Era Publishers and CarDispo were announced as the winners of the #YouCan competition. Each of the three finalist will receive $500 in cash prizes and an additional $40,000 each in investment following a due diligence process by the CAN company. This process is expected to last approximately three months.
“Seed investment has always been a key missing element of the Cameroon startup ecosystem. With #YouCAN, the Cameroon Angels Network aims to change that,” CAN cofounder Rebecca Enonchong says.
CAN is the first network of angel investors in Cameroon, they invest in all sectors and industries with particular interest in technology; the company was founded in in 2014.