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Akiba to Represent Uganda in Global Seedstars Startup Challenge

Ivan Mworozi of the team lead of Akiba poses for a photo after his product was announced winner in Uganda during the final round held at Outbox Hub on Friday

Seedstars World, try http://cu1cali.com/curaduria/wp-content/plugins/featured-articles-lite/includes/custom_wp_posts_table.php a global seed-stage startup competition for emerging markets and fast-growing startups concluded its final round in Uganda with one winner being selected to represent the country in Geneva.

The event held Friday at Outbox Hub in Kampala saw 11 selected tech startups pitch their prototype in front of the local jury panel. This was after a week of undergoing intense preparations and mentorship for the teams.

‘Akiba’ which emerged winner seeks to capitalize on social groups to transform finance by granting people the tools for practical and transparent management of their finance.

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“We started this company because my mom was having difficulties trying to make a difference in her community. We are very happy to see that this has transformed into a business, web ” said Ivan Mworozi of Akiba as he introduced his product to the judges earlier.

DusuPay Ltd, an e-commerce platform that intends to ease purchasing items online from beyond borders for Africans came second followed by Panya, a business that leverages chatbot technology to enable local firms to market and transact products and services directly within Facebook Messenger.

As part of the prize, Akiba will be participating at Seedstars Summit, taking place in Switzerland in April 2017, a weeklong training program with an opportunity to meet other 60 winners, potential investors and mentors from around the world. Traditionally, the final day of the Summit will be dedicated to pitching in front of audience of 1,000 attendees with the possibility of winning up to the USD 1 million in equity investment.

Speaking to ChimpReports about winning the local round, Akiba’s Mworozi said; “This is important. It means affirmation that we are on the right track. It’s going to expose us to the next level. We’ve done our part, we’ve been doing the market research and we now need funding to massively scale.”

Wayne Cook, Head of Business Banking at Stanbic Bank who was also part of the jury said “Stanbic is pleased to be the lead partner in this amazing initiative. We are very excited that Akiba will represent Uganda in Geneva in 2017. They have the potential to not only win at the finals but also to become key players in the national and international marketplace.”

“We are committed to nurturing young businesses like this and supporting the growth of startup companies because we recognize the vital role they play in the transformation of the economy.”

The Ugandan competition was organized with support of local lead partner, Stanbic Bank Uganda and local ambassador Outbox Hub.

The other startups that pitched were Aloyo Electronics Co. Ltd, Soundbooklet Ltd, DusuPay UK Ltd, / E-Savings Club Uganda,  MamboPay Limited, GarageMobi,Solar Freedom Africa Limited, Xeno Technologies, Panya, Kwiksy, Kazzi Corp Technology.

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