African startups can apply to 10k2Startup initiative for funding of up to $50K

Applications for the 10k2Startup initiative are now being accepted from African startups. This program seeks to provide funding and other forms of support to businesses that are tackling real-world issues, with a target range of $10,000 to $50,000.

Established by Julius Nkansah Owusu-Kyerematen, the head of Google’s multi-channel mid-market skills, 10k2Startup acknowledges that funding and strategic advice are critical roadblocks to a startup’s ability to grow and scale.

The initiative, based in Ghana, takes on these issues head-on by providing investments between $10,000 and $50,000 in exchange for a 15–25% equity stake. At the moment, it represents startups such as Homely, Nuelle Organics, and Green Tech in its portfolio.

“The investment decisions are based on the stage of the start-up, its potential for growth, and the traction it has achieved. In essence, the more promising the start-up, the greater the investment and equity stake,” said Owusu-Kyerematen.

For the startups it supports, 10k2Startup also hopes to serve as a strategic growth partner.

“This means providing 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 said.

The initiative is open to all industries and seeks out tech-enabled startups that use innovative technology to propel game-changing solutions.

“We seek founders who embody the core qualities essential for success – passion, tenacity, discipline, and strategic acumen. We value founders who confront challenges head-on, transforming obstacles into stepping stones towards their ultimate vision,” said Owusu-Kyerematen.

“Meticulous planning, unwavering focus, and a relentless pursuit of excellence are qualities we hold in high regard – showcasing these attributes sets the stage for monumental achievements and positions your startup on the path to success.”

Applications for 10k2Startup’s second cycle are open until July 15. Startups that make the short list will be contacted for a 30-minute pitch session by July 31. Within two weeks, funding decisions will be made.