Africa’s top five tech and digital start-ups – unveiled at U-Start’s conference in Cape Town this March – have jetted off to Milan for the global final of 2014.
After a continent-wide hunt, Africa will be represented by the top tier front runners in the tech and digital arenas – CapeRay, MellowCabs, wiGroup, Over and SteadiDrone – with each entrepreneur live-pitching head to head against 14 of the world’s top early-stage ventures.
Finalists attending from South America, Russia and Western Europe will be vying for the title of number one start-up of the world. The accolade is fortified with the prize of final stage funding and the exclusive opportunity to participate in U-Start’s International Investment road show.
U-Start, the Swiss-based international investment advisory firm, held U-Start Conference Africa on 6 March, in Cape Town.
The event attracted 17 of Africa’s finest start-ups, with each entrepreneur taking part in a live-pitch competition. Each enterprise presented in successive three minute slots to a body of active international VC firms, accelerators, high net-worth individuals, family offices and policy-makers. The event culminated in the selection of the five finalists, chosen by a panel of esteemed judges.
The winning selection was chosen on the basis of four key principles: feasibility; sustainability; scalability; and entrepreneurship.
U-Start Conference Africa was the second satellite conference in a global series of events launched by the firm to unearth entrepreneurial excellence around the world. Committed to the championing of an undervalued hotbed of entrepreneurial talent in the emerging markets, the SME rich territories of Africa are a firm priority for the investment advisory firm. The series concludes this week at the grand finale – U-Start Conference Milan, 2014.
The five start-ups representing Africa in the international contest are:
* CapeRay – developed revolutionary breast cancer screening technology, Acesco.
* MellowCabs – manufactures and operates fun and flexible mini-cabs for commutes in a 3km radius.
* wiGroup – pioneers in point-of-sale, integrated mobile transactions.
* Over – creators of an image editing mobile app, that allows users to customize images with text, icons and artwork.
* SteadiDrone – specialists in unmanned aerial drones, ideal for the transportation of goods, aerial filming and surveillance.
The overall winner of the live-pitch event will be given the chance to take part in the U-Start international investment road show, giving the start-up the opportunity to interact with a number of prominent investors, venture capitalists, angel investors and family offices from an array of global markets.
Stefano Guidotti, CEO of U-Start, comments: “The quality of African start-ups present at our Cape Town conference was exceptional. The five high-calibre start-ups chosen to progress to our Milan finale are truly representative of the creativity and business acumen present in Africa’s rapidly developing economy.
“Our satellite conference series unearthed remarkable innovation from each of our territories and reinforced our entire ethos at U-Start – to champion largely under-represented SME talent in emerging markets. Our pilot conference –
Bloom 2013 – was a triumph, and we are certain that our forthcoming Milan finale will surpass the success of last year.
“Although each of Africa’s top five are outstanding, they certainly have some tough competition, therefore we encourage all of Africa to back their regional start-ups wholeheartedly.”
