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Sanaga Ventures and VC4Africa are turning their sights to Cameroon to uncover the most innovative web, mobile or hardware-based startups. The Cameroon Startup Challenge offers a cash prize of US$5 000 and an opportunity to receive mentorship and incubation at ActivSpaces, Cameroon’s leading technology hub.
“Innovation can come from anywhere in the world, and the next global company might very well be from Cameroon. We want to do what we can to make that happen”, says Ben White, founder of VC4Africa, the large online community of venture capitalists, angels and entrepreneurs that concentrate on developing businesses in Africa.
Entries opened today and will be accepted up until 6 July, 2012. At the end of the competition, an awards ceremony will be held in Cameroon with the top three startups, participants, judges, guests and media attending.
Sanaga Ventures is sponsoring the prize money for the competition and may offer follow-on funding to the founder of the winning venture if it demonstrates traction and social validation in the marketplace. Sanaga Ventures is based in the Netherlands and provides seed financing, coaching and support to mobile application developers, web startups and innovative ventures in West and Central Africa.
The judging panel will consist of 11 panelists in total and will include members from VC4Africa, ActivSpaces, AppsTech and Sanaga Ventures as well as Georges Mpoudi, the CIO of MTN Cameroon and Edouard Tamba Web Manager for Afriland First Bank Group.