A half-million euro non-dilutive fund have been awarded to five startups. 

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Your startup journey starts here.

Beginnings are hard. Launching and scaling a startup is even harder. That overwhelming feeling when you face the unknown - the ideas buzzing in your head, the fear, the excitement…I know it well. That’s why I’m launching this space.

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Deals & Close Ups 🤑🤑

develoPPP Ventures has announced its 6th cohort of awardees, marking a significant milestone with a total of €3 million invested in Tanzanian startups since the program began. This initiative, spearheaded by the German Federal Ministry for Economic Cooperation and Development (BMZ), is designed to support young companies with innovative business models that improve living conditions in developing or emerging markets.

Through its matching-funds model, develoPPP Ventures provides €100,000 in non-dilutive funding to help startups scale their businesses and expand locally. The focus is on companies that have already moved past the startup phase and are generating revenue, ensuring that the funding support real growth.

If your startup meets the criteria—privately owned, profit-oriented, and with growth potential—the 8th cohort applications open on November 15. This is an incredible opportunity for Tanzanian entrepreneurs to secure funding and scale their businesses.

Startup Spotlight🌟🌟

Mobile money agents are the backbone of financial inclusion across Sub-Saharan Africa, driving access to services in underserved regions. However, the increasing competition, shrinking commission rates, and growing complexity of managing multiple transactions are challenging agents to find innovative ways to maintain their businesses.

This week, we’re highlighting Momoa, a mobile app designed to support mobile money agents in managing their business operations with ease. Launched earlier this year, Momoa aims to streamline the processes of tracking cash flow, customer debts, expenses, and commissions.

Momoa simplifies the day-to-day activities of mobile money agents by providing essential features such as:

• Float Management: Agents can easily record cash-in or cash-out transactions and track customer debts, which helps streamline operations and improve efficiency.

• Commission Tracking: With the app's dashboard, agents can monitor their commissions, providing better insights into their earnings and helping them adjust strategies to maximize revenue.

• Customer Debt Tracking: Momoa enables agents to keep track of outstanding balances, ensuring that debts are easily managed without complicated paperwork.

Community Highlights 🔥🔥

MedTech Startups Take Center Stage at 5th SBAN Harambee Evening

The 5th edition of the Serengeti Business Angels Network (SBAN) Harambee evening was held on 4th October 2024, featuring three startups building solutions for the Tanzanian MedTech Sector. The event, prepared by collaborative efforts of SBAN and Ifakara Innovation Hub, brought together investors, healthcare professionals, industry leaders, mentors, and other stakeholders with a focus on innovations in the medical sector by providing technological solutions. 

The three featured startups are Lab X Technologies, PlusLife, and NeoHealth Innovations. 

• Lab X Technologies is dedicated to pushing the boundaries of dental technology. Through the use of 3-D printing technology, they are committed to providing patients and dental professionals alike with high-quality, precise, and affordable dental implants and solutions. 

• PlusLife is committed to enhance healthcare services in developing countries by manufacturing affordable biomedical devices. They are currently focused on developing high-quality medical devices like CPAP machines to help newborns with breathing problems.

• NeoHealth Innovations  is a healthcare startup that works to supply neonatal care devices to help doctors and nurses in African hospitals provide better care for newborns and save newborn lives in communities. 

The 5th edition for the S-BAN Harambee has provided a platform for innovator in the medical sector to meet and share ideas on how to leverage technology to solve community problems, networking opportunities and impactful collaborations. 

Event Highlights 🌟🌟

The first ever Women In AI event is happening in Tanzania on Thursday.

• Free Entry.

• Open to all professionals.

• Networking.

Funding opportunities 🎇🎇🎇

Renew Capital Sprint Application. Renew Capital is looking for early-stage, tech, and tech-enabled African startups, led by exceptional founders who combine global expertise with local insights. Our goal is to find companies that seek to profitably solve for African challenges, removing systemic friction unique to the African market.

The NextFund. Ennovate venture has launched a fund to back early stage founders. The hybrid-curated programme offers personalised venture building and investment-readiness technical assistance to high-growth startups, with the potential to become category kings and yield high returns for investors.

Go together. Are you an edtech company? Applications for Cohort 10 are now open. They are Accelerating 100 startups in 2024.

The H-Accelerator is an online program that connects top tier students with impact entrepreneurs in emerging economies. Gain visibility, traction in new markets, meet potential investors and grow your early-stage impact startup.

Win up to $22,500. Are you an early-stage startup working on innovative climate solutions? Here is a chance to accelerate your journey.

OQ Accelerator. For early-stage startups with innovative ideas in the energy and sustainability sectors.

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