Germany supports startups in Africa with 100,000 euros

As part of effort aimed at addressing poverty and creating wealth, the state Ministry of Baden-Württemberg Germany, recently concluded a three-day hybrid event held across Africa.

Executive Director, Lead Africa InternationaL, Timi Olanrewaju; Business Development & Strategy at SEZ, Lens Wimmer, Philipp Keli, MD, Baden-Wurttermberg Dev. Corporation Foundation, SEZ during the just concluded StartUp Afrika event held in Lagos .

Managing Director of Baden-Württemberg Development Corporation Foundation (SEZ), Philipp Keil, assured over 50 Africans who attended the hybrid event across the continent of the trainings, collaboration and networking as well as benefits Africa and Germany relationship can produce for startups.

According to him, StartUp Afrika, is one of the developmental expressions of Lead Africa International wwfunded by the State Ministry of Baden-Württemberg, through the Foundation for Development Corporation (SEZ).

“StartUp Afrika is a programme designed to support innovative startups through intercontinental exchange and network plus funding. The state of Baden-Württemberg has set out to expand partnerships with counterparts on the African continent. It believes that a common future gets accomplished through partnerships, goal 17 of the SDGs, and through collaborative work and network,” Keil said.

He added that Nigeria is one of the biggest economies in sub-Africa, with so much growth and 11potentials, hence their interest in coming to support startup businesses to co-operate with the Western world through technology transfer and learn a lot of their solutions.

On his part, Executive Director, Lead Africa International, Timi Olanrewaju, explained that the €100,000 mapped out for the 20 elected companies will be based on their presentations. He said their presentations would determine who needs cash or training, the amount he or she needs, which could be 3, 5, 8, or 10 euros.

The event had various panelists and experts ranging from brands consultant, strategic management guru, business advisory managers, who were available to expose the startup owners to what the real business world offers and how to appropriately navigate the trends.

Most of the attendees who spoke after the event acknowledged the organisers for selecting them and promised to maximise experiences gained during the event in their various businesses.