WeChat Africa has pledged a 50 million South African Rand ($3,484,345) financial support to tech startups mushrooming across Africa. In an initiative geared at supporting African entrepreneurs and innovators in the tech space.
WeChat has partnered with Batstone, a tech strategy firm. Together they will coordinate on identifying the early stage investment opportunities presented by the various tech startups mushrooming across Africa.
Brett Loubser, head of WeChat Africa said: “Our fund aims to provide financial support to businesses so that they can effectively get on the WeChat platform. This will include technical integration and communications tactics across the Naspers’ stable and other suited channels.”
Eligible startups are encouraged to apply to the WeChat funding program; where they will also be able to leverage on the WeChat platform. That will enable them to break into new market across the African continent.
Eligible startups must fit the description of a tech-enabled business with an initial market validation and with a viable product in the offering. They must also show the capability to leverage on WeChat’s technology platform and able to benefit the potential consumers.
Alexandra Fraser, the Head of Batstone Ventures in a statement said, “Our experience in the past two years has demonstrated that many companies have huge potential but are unable to communicate what they do clearly.
We don’t want to miss the chance to work with smart businesses just because they can’t succinctly tell us what they can do in an online form so our process will include a face-to-face workshop element to mitigate this risk.”
If you are a tech startup in Africa and would like to take advantage of this opportunity, you will have to wait until Monday, January 18, 2016, when Applications will be open. To be successful in the application, tech startups will be taken through a mix of online applications and a series of workshops.