L’Oréal is among the five pioneering enterprises that joined the European Union’s Green Consumption Pledge – ...
Egypt’s 7Keema among seven winners of Orange Ventures challenge
Egypt’s 7Keema – an e-health platform that enhances the accessibility and quality of nursing services – was declared to be among the seven winners of the 2020 MEA Seed Challenge of Orange Ventures Africa & Middle East.
Over 500 business projects had applied for the challenge and were vigorously examined by investment teams and local Orange teams.
Orange Ventures is looking to grow its seed investment activity in the region with the launch of the Orange Ventures MEA Seed. This initiative integrates into the fund’s already existing activity on the continent and sets the target to finance 100 startups by 2025 primarily in African and Middle Eastern countries where Orange is present, from the first stages of their development and with ticket sizes of up to €200,000.
Orange Group has also pumped investment of over €670,000 in 7 countries to support startups
The winners also include Morocco’s Chari.ma which is a market place for local businesses selling everyday goods, Tunisia’s Dabchy which is the first peer-to-peer secondhand fashion marketplace in Tunisia, and Moja Ride of Côte d’Ivoire which is a platform for transport operators that helps commuters access, book and pay for all available modes of transportation from a single mobile application.
Cameroon’s Waspito – an e-health platform that connects the African healthcare ecosystem via an application for telehealth services distribution – was also among the winners alongside Jordan’s Back Office For Business (BOB) which is a comprehensive online sale and ordering solution to businesses, merchants and any online shop.
Senegal’s SudPay – a fintech proposing payment solutions for ticketing and local taxes – was also among the winners.
“Congratulations to the seven winners of the challenge, whom I am very happy to welcome to our community as we launch our new Seed activity” says Jérôme Berger, Chief Executive Officer, Orange Ventures.
“Their diversity in terms of countries of origin, as well sectors of activity (consumer, e-health, B2B, fintech) proves the abundance of promising high quality projects on the continent,” he said.
“More than elsewhere, restricted access to capital is a major challenge for entrepreneurs in the development of their business in Africa and the Middle East, where investment activity is lower and often concentrated around a few major hubs, whereas the continent is rich with talent and opportunities throughout. Our initiative can contribute to helping these talents thrive and confirms our confidence in the innovation potential of the ecosystems of Orange footprint,” added Berger.
“This initiative, which I am very pleased about, is part of our strategy that is open and supportive of innovation champions everywhere we operate. The support from large corporates is pivotal to these ecosystems: big groups who bring the means to scale and thrive to talented entrepreneurs. Even more so in the current context,” said Alioune Ndiaye, Chief Executive Officer of Orange Africa and the Middle East.
The Orange Ventures MEA Seed investments is open to start-ups with high-growth potential and new technologies at the core of their business, raising their seed round of financing and operating in one of its 18 countries that Orange operates in the MEA region. The geographical proximity will foster mentorship and collaboration with business units of the group.