Global Voice Group Seeks to Fund and Support African Tech-Based Startups
GVG looking for African tech-based startups where synergies are obvious with its core business.
Global Voice Group (GVG) today have announced a partnership with Disrupt Africa to identify tech-based startups from across Africa to offer them funding and support to scale their business/solutions. Thus, looking to make direct investments in African tech-based startups.
“Africa’s developing technology ecosystem needs investment and support from established companies. Consolidated companies like ours can provide startups with financial support, extensive experience in the sector, and an established and secure network of contacts. On the other hand, young tech startups offer a deep knowledge of the latest technologies, a necessary renewal of ideas and processes, a fast adaptability to change, a great ability to multi-task and lots of energy to get ahead. It is a win-win scenario,” James Gabriel Claude, CEO of GVG said in a press statement.
Claude emphasized that their aim is to invest in or partner with exceptional entrepreneurs that have unique ideas to assist them in scaling their business models to generate sustainable growth. “We do this by leveraging our expertise, access to markets, data and technologies, and by funding these exciting young companies,” he said.
The partnership with Disrupt Africa is part of Disrupt Africa Pipeline service to identify platforms and solutions that have synergies with its business. Therefore, GVG is looking for startups in the ICT sector, where synergies are obvious with its core business.
Specific focus areas are Digital ID/Mobile ID; Artificial Intelligence/Business Intelligence, Blockchain, Data analytics, Mobility data, Digitization of national payments systems, Payment gateways —focusing on interoperability, and Digital addressing & verification systems. Any other startup in the gov-tech or reg-tech and telco space is also of interest.
Applications are invited from startups with large addressable markets, with a clear geographical preference in Africa, but with capabilities to add value globally. GVG is also prioritizing clear business models, competitive advantages and barriers to entry, and the ability to scale across various markets. Startups must have realizable financial models (technologies that are scalable via a B2G model are preferred), and high quality management teams.
Selected companies will have the opportunity to access up to USD$300,000 in funding. Though the average ticket size will be between USD$30,000 and USD$100,000. GVG’s preference is to invest for the longer-term where synergies with the startups are strong and realizable, and no exit terms are required.
The company is looking to take advantage of meaningful equity stakes, so pre-seed/seed stage startups are ideal, though GVG would like to see some evidence of traction if possible. However, startups that have surpassed the valuation levels required to secure an appropriate equity stake will still be considered if the startup fulfills the other requirements of the mandate. In this scenario GVG will explore other commercial arrangements.
Tom Jackson, co-founder of Disrupt Africa, said; “This is an exciting opportunity for startups in the developing reg-tech space, which has gained relatively little attention thus far but is one that is increasing in importance globally. GVG is a leader in this sector, and the chance to access funding and just as importantly, support from the firm is one that could help a number of companies across the continent accelerate their development.”
Applications for funding and support from GVG are open (FOLLOW LINK IF INTRESETED) until December 18th 2020 at 23.59PM SAST (12AM East African Time). Applications will be considered for the duration of the window, but the level of support available is capped and those received in the first three weeks will be prioritized.
