Pangea has made public the list of 11 startups who will be eligible for $50,000 funding.
Kenya takes the lion’s share of the number of startups featured on that list. There are 9 startups from Kenya, 1 from Egypt, and 1 from Nigeria.
The judges in the selection panel who selected these 11 startups consists of experts from the Mastercard Foundation, Innovation Norway, BDO EA, and Longitude Finance. The judges commented that the selection process was quite rigorous.
“The initial expectation was that we would settle on 10 companies, but we ended up with a list of 11. This is evidence that a good number of the startups made a strong business case. We were spoilt for choice,” said Jane Ndugo, a senior market advisor at Innovation Norway.
Jonas Tesfu, the CEO of Pangea, says all the participating companies were thrilled about the fact that the local business environment in Africa, for the most part, looks attractive to investors.
“I have no doubt that investors will find good opportunities for investment based on the quality of businesses represented on the Pangea program.”
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