CfC Stanbic Bank has partnered with Seedstars World, the global seed-stage startup competition for emerging markets, to identify the best startup in Kenya. Up to 12 of the best startups in Kenya will compete to represent the country at the Seedstars World competition at the final event in Geneva and win up to $500,000 in equity investment.
The local entrepreneurs will receive additional support from CfC Stanbic Bank Kenya. CfC Stanbic Bank in Kenya will act as the main partner for the event and will explore potential options for collaborations and partnerships with the participating entrepreneurs to empower them to succeed.
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“It brings together passionate people and also reflects our entrepreneurial spirit as we help them take those important first steps in their entrepreneurial journey,” said Ben Wandawanda, Head of Business Banking, CfC Stanbic Bank Kenya.
Seedstars World expanded its competition to more than 50 countries in 2015, up from the 36 countries for last year’s edition. Its past participants have raised $20 million together, providing employment to +360 employees all around the world. “Kenya has consistently proven itself to be an exceptional startup ecosystem and an enabler of brilliant talent. Together with CfC Stanbic Bank Kenya, we are very excited to discover and bring support to all entrepreneurs participating in the competition.” said Gregory Pepper, Regional Manager for Africa at Seedstars World.
All regional winners of the local events are invited to Switzerland to pitch at the final event in February 2016. This year, Seedstars World is looking to expand its impact through key partners in recognising the startups potential according to diverse criteria. In addition to the $500,000 global winner prize, two more $500,000 equity prizes have been added: a travel track, powered by lastminute.com group, and a fintech track, putting the total amount of investment to be won at $1.5 million.
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