ARED selected as one of 10 finalists for the Innovation Prize for Africa (IPA) 2018

Zurich (Switzerland), September 2018. GreenTec Capital Partners is very pleased to report that ARED has been selected as one of the 10 finalists for the 2018 Innovation Prize for Africa. ARED was selected as a finalist from more than 3,000 applicants from 52 countries for its innovative Mobile Shiriki Hub which can empower millions of Africans to get connected to the digital world – especially in rural areas.

This year’s call for applications had theme “African innovation: Investing in Inclusive Innovation Ecosystems” and attracted more than 3,000 applications from 52 African countries. The finalists represented a range of solutions in the ICT, agri-business, public health, and the environment/ energy sectors with a focus on improving the lives and economic prospects of Africans.

Walter Fust, AIF Chairman said: “Now in its seventh year running, we have witnessed multi-million-dollar businesses emerging from the IPA initiative, with health, environment/energy, and agricultural innovations leaving imprints across the African continent and beyond. Our theme this year prompts the need for increased collaboration between government, business, industry, innovation enablers and the community to further realize African prosperity and economic freedom.”

The IPA initiative focuses on rewarding and honoring top African innovators while also building strategic partnerships with innovation enablers to strengthen innovation ecosystems in Africa. To date, the AIF has supported 55 IPA winners/nominees with more than US$ 1 million and mobilized 9,400+ innovators from all 55 African countries. AIF endorsement and exposure generated through the IPA have seen past winners securing over US$135 million worth of investments to grow and scale their businesses. IPA past winners and nominee company valuations amount to over US$200 million.

Managing Director of the AIF, Pauline Mujawamariya Koelbl, who has steered the IPA program since its establishment in 2011, said: “We are proud of the impressive innovations that made it to the top 10 this year. They are evident examples of African ingenuity and each innovation is solving a real challenge in a key sector. Africa, and indeed the rest of the world, must keep an eye out – these innovations are ready to propel our continent’s global competitiveness in the market! Furthermore, these top 10 nominees are a great reminder that if given access to capital, Africans are capable of solving African challenges whilst also contributing to the rest of the world.”

GreenTec is very proud that ARED has placed competitively in such a prestigious award and that the innovation of the Mobile Shiriki Hub is recognized on a pan-African stage. With ARED successfully raising over €220,000 with the crowdfunding campaign through Bettervest we are excited to see the project grow and happy to see ARED CEO Henri Nyakarundi’s hard-work being recognized. The ARED Bettervest Campaign will continue for another 7 days till the 27th of September so there is still time to participate!



Other Posts

Amitruck raises $4 million for scaling into Uganda and Tanzania

Frankfurt (Germany) and Nairobi (Kenya), February 2022. GreenTec Capital is very pleased to report that Amitruck, our Kenya-based logistics-tech portfolio company, has closed a US$4 million seed round. Amitruck will use the funds to bolster its operations, technical, and sales teams supporting its expansion in East Africa. The funding round was led by Better Tomorrow…

read more

Boreal Light begins project to provide 100% of Zanzibar’s water with renewable energy

Berlin (Germany) and Stown Town (Zanzibar), February 2022. GreenTec Capital is very proud to report that Boreal Light has begun work on their most ambitious project to date, providing 100% of Zanzibar’s water powered by renewable energy. On February 12th, the company broke ground on a water desalination plant at the Mnazi Moja Hospital in…

read more

PowerStove Wins US $100,000 in AllOn/USADF Off-Grid Energy Challenge

Frankfurt (Germany) and Abuja (Nigeria), January, 2022.  GreenTec is very pleased to share that PowerStove, its Nigeria-based cleantech portfolio company, is among 13 lucky African start-ups to win US $100,000 in an off-grid, energy challenge.   The annual challenge was hosted and founded by the United States African Development Foundation (USADF) in partnership with All On. …

read more