African startups are invited to apply for the 10k2Startup initiative, which aims to back ventures solving real-world problems with between US$10,000 and US$50,000 in funding as well as other types of support.
Founded by Julius Nkansah Owusu-Kyerematen, who is the head of multi-channel mid-market skills with Google, 10k2Startup recognises that funding and strategic guidance are crucial barriers to growth and scale for startups.
The Ghana-based initiative addresses these challenges head-on by offering investments ranging US$10,000 to US$50,000 in exchange for an equity stake of between 15 per cent and 25 cent. Its portfolio currently includes startups like Homely, Nuelle Organics, and Green Tech.
“The investment decisions are based on the stage of the start-up, 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.
10k2Startup also aims to be a strategic growth partner for the startups it supports.
“This means providing expert guidance every step of the way, helping entrepreneurs navigate challenges, and connecting them with our extensive network of investors, collaborators and customers to accelerate their growth,” Owusu-Kyerematen said.
The initiative is industry-agnostic, and is simply looking for tech-enabled startups that leverage cutting-edge technology to drive groundbreaking solutions.
“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,” said Owusu-Kyerematen.
“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.”
Interested ventures can apply for 10k2Startup’s second cycle here until July 15, with shortlisted startups then invited for a 30-minute pitch session by July 31. Funding decisions will then be made within two weeks.
