10 places you can get seed capital for your startup

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Village Capital

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Village Capital is a global venture firm that finds, trains and invests in entrepreneurs solving real-world problems in agriculture, health, energy, education and financial services.

It is already very active in Africa and looks set to scale up its activities after announcing the close of a US$17.7 million fund by its investment arm VilCap Investments.

Seedstars Africa

Seedstars Africa is a member of Seedstars Group, a Swiss-based venture builder that is active and invests in 35+ countries around the world especially in emerging markets across Asia, South America, Middle East and Africa.

Through Seedstars World, its popular, highly competitive and exclusive startup competition for startups in emerging markets, the company is able to identify promising companies to support with capital and technical help.

African Women’s Development Fund (AWDF)

The AWDF is the first pan-African women’s grant maker in Africa. Since the start of its operations in 2001, AWDF has provided $17 million in grants to 800 women’s organizations in 42 African countries.

The AWDF is an institutional capacity-building and programme development fund, which only awards grants to organisations, not individuals. It awards grants ranging from $8,000 up to $50,000.

Tony Elumelu Foundation Entrepreneurship Program (TEEP)

TEEP

Founded by Tony Elumelu, the recently launched $100 million Tony Elumelu Foundation Entrepreneurship Programme (TEEP) is an annual programme of training, funding and mentoring, designed to empower the next generation of African entrepreneurs.

TEEP seeks to identify and support 1,000 entrepreneurs from across the continent every year over the next decade and these 10,000 start-ups will ultimately create one million new jobs and add $10 billion in annual revenues to Africa’s economy.

She Leads Africa (SLA) Accelerator

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She Leads Africa  Accelerator is a 3-month program designed to identify, support and fund the next generation of Nigeria’s brightest female entrepreneurs. Asides the investment fund, the program has numerous benefits which include: media attention to raise your local and international profile, opportunity to meet with the best business minds, opportunity to pitch to a room filled with investors and probably win N2m in investment.

Anzisha Prize

Anzisha Prize seeks to award young African entrepreneurs between 18 and 22, who have developed and implemented innovative solutions to social challenges or started successful businesses and created employment within their communities.

12 finalists from across Africa will win an all-expenses paid trip to South Africa to be a part of a week-long entrepreneurship workshop and conference at the African Leadership Academy campus on the outskirts of Johannesburg.  The grand prize winners, selected from these finalists, will share prizes worth $75,000 USD. The competition is open to startups in all sectors.

Bank of Industry (BOI) Graduate Entrepreneurship Fund

The Graduate Entrepreneurship Fund (GEF) is a special N2 billion intervention fund for serving members of the National Youth Service Corps (NYSC) launched on October 5, 2015. It is a joint initiative of the Bank of Industry (BOI) and the National Youth Service Corps (NYSC), which aims to:

  • Encourage corps members to venture into entrepreneurship rather than become job seekers.
  • Address the entrepreneurship capacity gap of the NYSC members who are expected to produce bankable business plans after the three-day capacity building programme.
  • Deepen financial inclusion by de-risking the NYSC members and making them eligible for concessional loans ranging between N500,000 and N2 million to be provided by BOI.
  • Ensure sustainability of the businesses of the eventual loan beneficiaries through effective monitoring by the NYSC Directorate and BOI.

Spark.ng

Spark

At Spark.ng, the thinking while investing in technology companies in Africa is like that of a pioneer. They not only fund startups, but they build companies.

Spark.ng focuses on Lagos, Nigeria as the gateway to Africa and on well defined and scalable revenue models. Some companies they have successfully worked with from scratch and built include; hotels.ng, ToLet.com.ng, drinks.ng etc.

Diaspora Angel Investment Network (DAIN)

The DAIN Network was created in 2010 by Nii Simmonds and Kaushal Jhalla. Both Nii And Kaushal have been involved with African Diaspora engagement for years; after a series of successful events and gatherings, they decided to team up and launch a network focused on getting Africans in the Diaspora engaged with entrepreneurship in the agriculture sectors – to help alleviate the food crisis in Africa.

By leveraging on existing connections, the network aims to empower Africans to focus on building incubating ideas for sustainable enterprises utilizing agribusiness incubators for food security/agriculture development. This in the long run hopes to alleviate food crisis and sustain entrepreneurship in Africa.

The Africa Enterprise Challenge Fund (ACEF)

The AECF is a US$ 244m challenge fundwhich awards grants and  repayable grants to private sector companies to support innovative business ideas in agriculture, agribusiness, renewable energy, adaptation to climate change and access to information and financial services.

The AECF which is supported by the governments of Australia, Denmark, Netherlands, Sweden and the United Kingdom, as well as the International Fund for Agricultural Development (IFAD); aims to improve incomes of smallholder farmers and the poor.

Funding is awarded through competitions, with applicants judged on the commercial viability, innovation, and potential development impact of their projects.

6. African Women Development Fund : The AWDF is the first pan-African women’s grant maker in Africa. Since the start of its operations in 2001, AWDF has provided $17 million in grants to 800 women’s organizations in 42 African countries. The AWDF only awards grants to organisations, not individuals. It awards grants ranging from $8,000 up to $50,000. 7. The Tony Elumelo Foundation For Entrepreneurship program : The recently launched $100 million Tony Elumelu Foundation Entrepreneurship Program (TEEP) is an annual program of training, funding and mentoring, designed to empower the next generation of African entrepreneurs. Founded by Mr. Tony Elumelu, the successful Nigerian entrepreneur and philanthropist, the fund seeks to identify and support 1,000 startup entrepreneurs from across the continent each year over the next decade. The fund expects that the 10,000 start-ups and young businesses selected from across Africa will ultimately create one million new jobs and add $10 billion in annual revenues to Africa’s economy. 8. Seedstars Africa : is a member of Seedstars Group, a Swiss-based venture builder that is active and invests in 35+ countries around the world especially in emerging markets in Asia, South America, The Middle East and Africa. Seedstars recently invested $330,000 in SimplePay, a young Nigerian third-party payment processing company that has created a solution which will likely disrupt payment services in Nigeria and Africa.Read more at: http://www.manic.co.zm/12-sources-of-start-up-capital-for-zambian-entrepreneurs/

6. African Women Development Fund : The AWDF is the first pan-African women’s grant maker in Africa. Since the start of its operations in 2001, AWDF has provided $17 million in grants to 800 women’s organizations in 42 African countries. The AWDF only awards grants to organisations, not individuals. It awards grants ranging from $8,000 up to $50,000. 7. The Tony Elumelo Foundation For Entrepreneurship program : The recently launched $100 million Tony Elumelu Foundation Entrepreneurship Program (TEEP) is an annual program of training, funding and mentoring, designed to empower the next generation of African entrepreneurs. Founded by Mr. Tony Elumelu, the successful Nigerian entrepreneur and philanthropist, the fund seeks to identify and support 1,000 startup entrepreneurs from across the continent each year over the next decade. The fund expects that the 10,000 start-ups and young businesses selected from across Africa will ultimately create one million new jobs and add $10 billion in annual revenues to Africa’s economy. 8. Seedstars Africa : is a member of Seedstars Group, a Swiss-based venture builder that is active and invests in 35+ countries around the world especially in emerging markets in Asia, South America, The Middle East and Africa. Seedstars recently invested $330,000 in SimplePay, a young Nigerian third-party payment processing company that has created a solution which will likely disrupt payment services in Nigeria and Africa.Read more at: http://www.manic.co.zm/12-sources-of-start-up-capital-for-zambian-entrepreneurs/

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