African startups have a significant opportunity to secure funding through the 10k2Startup initiative, which offers financial support ranging from $10,000 to $50,000. This initiative, spearheaded by Julius Nkansah Owusu-Kyerematen, the head of multi-channel mid-market skills at Google, aims to support ventures tackling real-world problems with not only funding but also strategic guidance.
10k2Startup, based in Ghana, seeks to address the critical barriers to growth that many startups face. According to Owusu-Kyerematen, “Funding and strategic guidance are crucial barriers to growth and scale for startups.” The initiative provides investments between $10,000 and $50,000 in exchange for an equity stake ranging from 15% to 25%. Its current portfolio includes startups such as Homely, Nuelle Organics, and Green Tech.
Investment decisions are made based on the startup’s stage, growth potential, and traction. “The more promising the startup, the greater the investment and equity stake,” Owusu-Kyerematen explained. Beyond financial support, 10k2Startup aims to be a strategic growth partner, offering expert guidance, helping entrepreneurs navigate challenges, and connecting them with an extensive network of investors, collaborators, and customers.
“We provide expert guidance every step of the way, helping entrepreneurs navigate challenges, and connecting them with our extensive network of investors, collaborators, and customers to accelerate their growth,” Owusu-Kyerematen added.
The initiative is open to tech-enabled startups across various industries that leverage innovative technology to create groundbreaking solutions. “We seek founders who embody the core qualities essential for success – passion, tenacity, discipline, and strategic acumen,” Owusu-Kyerematen stated. “Meticulous planning, unwavering focus, and a relentless pursuit of excellence are qualities we hold in high regard.”
Interested startups can apply for the second cycle of the 10k2Startup initiative until July 15. Shortlisted candidates will be invited for a 30-minute pitch session by July 31, with funding decisions made within two weeks.
For more information and to apply, visit the 10k2Startup website
