We have looked to the major stories last week ( Jan 20 – 26 ) and picked up the followings. Enjoy.
Egyptian Startup That is Expanding To Ethiopia Raised ~$15 in Ongoing Round
Egypt based but US registered transportation startup Halan has reportedly raised ~$15 million in what’s is mentioned as ongoing round according to Menabytes.
It is remembered that back in September 2019 Reuters reported that Halan is expanding to Ethiopia to provide it’s ride hailing service for three wheeled vehicles ( tuk tuk ). Halan operates in Egypt and Sudan as of the moment.
Halan tested it’s service in Adama and plans to launch all over Ethiopia. Even though HalanATA already have a team in the ground, it is yet to register officially in Ethiopia. A close source mentioned that the registration process is underway.
ATA Lunches AgriHub
Agricultural Transformation Agency launches a project aimed to promote the development of the private sector in agriculture by helping to scale and improving operational capacity of Micro, Small and Medium Enterprises (MSMEs).
“AgriHub is based on the success, and lessons learned, of the Ethiopian Agribusiness Accelerator Platform (EAAP), a demand-driven, value chain focused business incubator and accelerator that helps high-potential agribusinesses to professionalize and scale.” Learn more here.
Paga Acquires Apposit And Plans To Launch It’s Payment Service In Ethiopia
Paga, a Nigerian digital payment startup, announces it’s acquisition of Ethiopian based Apposit. Apposit is software development company is founded by diaspora returnees and had a close relationship with Paga for last 10 years. Paga also officials announces it’s expansion to Ethiopia and is looking for Baking lincense. Read more here including a comment on potential regulatory challenges.
Ethiopia Innovators Association
Ethiopia Innovators Association is formed by over 200 innovators. According to Capital , Ethiopian Innovators Association (EIA) aims to increase the development of technological learning and innovation and strengthen the role of local inventions.
EIA plans to build innovation parks and centers in the coming three years as well us a develop its own platform to start registering innovators and their inventions that are found all over the country.
Ethiopia to Launche AI Center
The Ministry of Counsel approved a regulation to start an Artificial Intelligence Research and Development Center.
According to the statement from the PM office the need for the center is ‘to safeguard Ethiopia’s national interests through the development of artificial intelligence services, products and solutions based on research, development and implementation,” and “ to create a conducive environment for beginner developers and startups working in the artificial intelligence sector”.
Opportunity Alert – Tony Elumelu Entrepreneurship Programme (TEEP)
The Tony Elumelu Foundation (TEF) has opened its application portal for applications from African entrepreneurs across all African countries, for the 2020 cohort of the Tony Elumelu Entrepreneurship Programme.
The TEF Entrepreneurship Programme is open to startup entrepreneurs, with innovative business ideas or businesses that have been in existence for less than 3 years, in any sector, from across Africa.
Last year 53 Ethiopians participated in TEEP and you can apply to join this year cohort.
Event Alert – The Baobab Network in Addis
We are happy to collaborate with the The Baobab Network to host an event on Wednesday the 29th at Bluspace.
Baobab Network Invest and accelerate early stage startups in Africa. At the event we will talk about entrepreneurship, investment, capacity building, and related topics to the technology startups space in Ethiopia and Africa.
Baobab Network Accelerator Backed Two Ethiopian Startups so far and participants will get will get to meet them as well.
If you are an entrepreneur, startup founder or working in startup, Computer Science Student, Angel Investor or VC, please register here.
We are working on ” 2019 Investment and funding report for Startups in Ethiopia” and we think you would like it.
We have been collecting data over the year but we don’t think we have it all. So if you are a startup ( tech or non tech) from Ethiopia and raised any funding (equity or non-equity), please fill your details here. We would love to include you in the report.
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