Kenya’s 88MPH and Nigeria’s L5LAB joint venture, 440ng, has announced a 24-hour pitch/funding event – Deal Weekend, for startups to compete for equity investment of between $100,000 to $250,000.
The event will have between three to six startup pitch before a diverse group of investors in the ecosystem. Beside the opportunity of getting equity investment, successful startups will receive mentorship from investors.
Investors confirmed for the event include Kresten Buch of 88mph, Chika Nwobi of L5Lab, Elo Umeh of Twinpine Mobile and Bastian Gotter of iRoko.
“The selected startups will be at the frontier of the evolving mobile/web industry in Nigeria,” said Kresten Buch of 88MPH and co-Founder of 440ng. “Their businesses will use mobile/web technology to scale & disrupt traditional businesses, and target African consumers. They will be a part of creating a new generation of tech giants.”
440ng also informed that it is shifting from the traditional accelerator program which it launched in 2014 because it noticed that startups thrive better when they have experienced entrepreneurs as investors. The company says with Deal Weekend, startup founders wouldn’t have to “commit to a long accelerator programme, so they can continue their daily business operations and get help and advice whenever they need it”.
Application closes by 13th August, 2015 and the event will hold on the 4th to 5th September, 2015.
Interested startups can apply here.
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