This Week in Tanzanian Startup ✨

Transformative Funding Initiative Launched to Empower Tanzanian Startups and SMEs

Welcome to Build Africa! 👋🏿

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.

If you haven't subscribed, join thousands of folks curious about startups in Tanzania.

Deals & Close Ups 🤑🤑

UNDP’s FUNGUO Innovation Programme has partnered with CRDB Bank Foundation’s iMBEJU to change the game for startups and SMEs financing scene in Tanzania. A funding programme was launched on September 10th, 2024 allowing SMEs access to non-refundable grants from the EU and reimbursable grants from iMBEJU. The aim is to leverage on the equity-free catalytic grants from the FUNGUO Programme to de-risk eligible startups and increase their chances to access the iMBEJU repayable soft loans and other forms of financing available in the ecosystem.

The FUNGUO Innovation programme is committed to advancing Sustainable Development Goals (SDGs) in Tanzania through an integrated approach aimed at nurturing impact-driven startups and innovative Micro, Small, and Medium Enterprises (MSMEs). FUNGUO aims to make a significant contribution to the country’s sustainable development goals by fostering a supportive environment for startups and innovative MSMEs.

iMBEJU , a key initiative of the CRDB Bank Foundation, is a sustainability funding program aimed at revitalizing entrepreneurship in Tanzania. Through revolving soft loans, iMBEJU supports scalable business ideas with significant societal impact.

About TZS 1.4 billion available and 40% reserved for women-led businesses, the funding programme aims at scaling impact-driven ventures ranging from those focused on social impact, tech innovation, or sustainable solutions. Applicants stand a chance to raise funds through FUNGUO’s catalytic grants (TZS 50 million to TZS 100 million) or iMBEJU’s soft loan facility (TZS 30 million and above depending on business capacity and ability to repay the facility).

Up to 20 applications may be awarded the FUNGUO Catalytic grant, depending on the requested amounts and compliance with the eligibility and selection criteria. The same successful applicants have an option to access the soft-loan facility from iMBEJU. There may also be applicants who may fail to meet the FUNGUO innovation criteria but be eligible for the iMBEJU funding.

Applications close on 9th October 2024. Please visit Call for Funding Application for more information.

Startup Spotlight🌟🌟

SarataniAI Reaches Major Milestone with Over 1,000 Medical Images Collected

In the face of challenges surrounding healthcare access, especially medical imaging, SarataniAI has achieved a significant milestone. Over the past four months, the Tanzania-based tech startup has collected more than 1,000 images from Muhimbili National Hospital and Ocean Road Cancer Institute. These images will be used to train their AI model, which is designed to screen for cervical cancer.

SarataniAI uses Artificial Intelligence to analyze Pap smear images for cervical cancer screening. The startup is dedicated to researching, developing, and testing innovative solutions for cancer diagnosis and screening. They also engage with communities and stakeholders to promote cancer screening, aiming for early detection and improved treatment outcomes.

SarataniAI to Participate in 2024 Next Generation Digital Action

Next month, SarataniAI will take part in the Next Generation Digital Action event at the Copenhagen Digital Tech Summit. The event provides a platform for learning, networking, and exchanging ideas on cutting-edge technologies.

Next Generation Digital Action is a global initiative in collaboration with the Digital Tech Summit in Copenhagen, Denmark. The event brings together students, academics, and entrepreneurs to explore innovative ideas and contribute to global discussions about creating a sustainable and inclusive future.

This year’s summit will feature 18 startups and 26 student teams working on six sustainability challenges. The Copenhagen Digital Tech Summit itself is a deep tech conference that covers four key themes: Cybersecurity, Supercomputing, AI, and Robotics, bringing together industry leaders and academic experts for knowledge exchange.

Community Highlights 🔥🔥

New Cohort of Tanzania Angel Investors Accelerator (TAA) Programme Launched to Drive Startup Growth and Investment

On September 11th 2024, the second cohort of the Tanzania Angel Investors Accelerator (TAA) Programme was launched by the Serengeti Business Angel Network (SBAN) in partnership with the Dutch Embassy and the Netherlands Enterprise Agency (RVO).

This launch follows a successful first cohort which unlocked over 84 M in investments for three high-growth startups. SBAN aims at training 1,000 local angel invertors and unlock over 2 bn in investments by 2027.

The new cohort will provide aspiring angel investors comprehensive training, access to robust network of active angel investors across Africa and hands-on support. In realization of the need to invest in young people to building a resilient and prosperous nation, this programme aims at effectively supporting them in order to realize their goals. The initiative plays a significant role in shaping the angel investment landscape in Tanzania with the aim of attracting foreign capital to Tanzania’s startup ecosystem as well as increasing the number of active local angel investors.

The second cohort will run from September 2024 to February 2025, training 25 aspiring angel investors and directly invest in select startups during the programme. The programme targets high-net-worth individuals and professionals with corporate experience, who are not only willing to invest but also mentor founders and leverage their professional networks to accelerate portfolio growth.

What does this programme mean to the startup ecosystem?

• Nurturing future generation of local angel investors

• Fostering a thriving startup ecosystem

• Unlocking capital

• Creating value for investors

The application for the second cohort is open until September 25th, 2024. For more information, visit Tanzania Business Angels Accelerator

Event Highlights 🌟🌟

Be part of Responsible AI in Tanzania Register Here

Funding opportunities 🎇🎇🎇

 

Let's Connect! Find me on:

🐦 Find me on Twitter

💬 Chat with me on Linkedin

💌 Reply to this email