Unicorn Group— an investment company that targets innovative ideas, start-ups and early stage companies in the technology and technology-enabled sectors across Africa, has set aside $300 million funds for startups in the tech ecosystem that are providing disruptive innovative solutions to Africa’s top challenges.
The company revealed its plan to fund the African Tech Ecosystem during the first edition of TechMoney recently held in Lagos Nigeria. TechMoney is an event organized by Unicorn Group which focuses on ground-breaking ideas, startups, and early-stage companies in the African tech ecosystem.
See also: Two Kenyan Startups Wins $100,000 Cisco Global Problem Solver Challenge
According to Kola Abiola, Unicorn Group Chairman, digitalization offers innovation and finance across Africa. He further elaborated that the TechMoney and innovation summit was a means to aid tech talent and start-ups secure investment and also become bankable.
In his words, “With a Nigerian youth population of 72 percent, median age of 18.4 and an urban population estimated at 51.9 percent with similar percentages continent-wide, this initiative will provide much-needed hope by creating world-class solutions to African problems.”
Unicorn Group is notable for providing education, training, mentorship, infrastructure, and long-term capital to entrepreneurs. They do this so as to enable entrepreneurs to build sustainable and competitive companies that will contribute to the economic growth of Africa.
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