Tech

Orange Ventures partners Digital Africa to co-invest in startups

Published

6 months ago

May 30, 2024

Global venture capital investors, Orange Ventures, has announced a strategic partnership with Digital Africa which will see them commit to co-investing in startups from the “Orange Digital Centres” network in Africa and the Middle East.

Fayçal Adlouni, Managing Partner of Orange Ventures who broke the news on Thursday, said the deal will strengthen and accelerate support for African startups from the Orange Digital Centres.

“The Orange Group is fully committed to nurturing the future champions of the technology scene in Africa and the Middle East,” he said.

“This arrangement, involving Orange Middle East and Africa, Orange Ventures and Digital Africa will collectively enable us to concentrate our resources to create an environment conducive to the success of startups in Africa and the Middle East,” Adlouni stated.

Also speaking on the partnership, Grégoire de Padirac, CEO of Digital Africa, said his firm already runs a Fuzé investment facility, which allows early-stage startups operating in Francophone African countries to apply for up to EUR50,000 (US$54,000) in equity funding from by Digital Africa.

He noted that by teaming up with Orange Ventures, benefiting startups will get support throughout their lifecycle, with the aim of stimulating entrepreneurship and innovation in the African region.

Orange Digital Centre is an ecosystem deployed in 17 countries in Africa and the Middle East, and eight countries in Europe, bringing together in a single location a range of free programmes open to all, from digital training for young people to startup incubation and acceleration, as well as support for and investment in project leaders.

Click to comment

Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

19 hours ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.

Tech

Orange Egypt earmarks $52.7m to support African startups

Published

2 days ago

November 19, 2024

Isaac Dachen

Orange Egypt has earmarked the sum of $52.7 million to support African startups in what is going to be the largest investment to drive a youth-focused tech revolution.

According to the company, the mammoth investment will see over 40 startups benefitting from the funds, with most of them being Egyptian companies.

‘It’s a boost for Egypt’s growing entrepreneurial ecosystem and a step closer to cementing its spot as a top startup hub in Africa,” the company said in a statement.

The investment is coming on the heels of the telco signing a deal with the Egyptian government to roll out the second phase of its 5G licensing.

The statement noted that with Egypt’s startup game already strong and ranking as the third most funded country in the MENA region, “the numbers speak for themselves.”

“In 2022, Egyptian startups closed 143 funding deals worth nearly $766.7 million, outpacing the $606.79 million raised the year before.

“Plus over 2,100 startups employing more than 50,000 people, the country’s ecosystem is one of the top 10 emerging startup hubs globally.

“The Egyptian government is all in on this. And since launching initiatives like Egypt Ventures in 2017, they’ve been backing startups to drive innovation and growth in the tech space.

“Orange Egypt’s latest move only adds fuel to this already blazing fire, paving the way for more opportunities and a stronger startup culture across Africa,” it added.