The road towards the future is opening up for the four African start-ups endorsed by the tech incubator Think, Milicom’s venture into Rwanda’s business landscape. After going through a highly selective screening process, the Egyptian mobile application for road assistance Beliaa, the Nigerian platform for real estate, home design and homeowners connection CribPark, the Ghanaian survey and research platform PollAfrique, and the Rwandan wholesale distribution software Torque were picked among a great number of international applications.
Moreover, the package offered at the next stage of the process is even more enticing: The lump sum of 15 000 $, a business assistance and in-house training, an access to the Tigo’s technical network for product testing, in addition to a privileged access to a 50 million customer base on the international market.
Think operates as an accelerator for innovative tech companies which indicate a strong potential for scalable growth, in exchange for a 10% equity for Milicom. Launched in march 2014 in Kigali; Think is part of Milicom’s strategy to reach an annual revenue of 9 billion dollars by the year 2017.
On a bigger scheme, Africa has a whole shows interesting signs for potential investors. According to Forbes, 2013 was the year during which Africa received the most important investments in the field of technology. Although Think is located in Rwanda, one of the safest business environment on the continent, the applications are not restricted. In fact it is quite the contrary.
Therefore, a partnership with Think could be a promising experiment for African daring tech entrepreneurs willing to throw themselves into the den, in order to benefit from the incubators favours. The game is on.