10 eligible Rwanda startups will receive debt financing support of up to €50,000 accompanied by acceleration coaching through a business accelerator programme dubbed as Sustech4Rwanda “Sustainable Technology for Africa Rwanda 2021” looking to help startups build resilience and through debt support and managerial support. The group based in Belgium primarily offers debt financing and capital expertise to start-ups in their pre-seed stage.
Andrew Herweg, the Rwanda Programme Lead, said they would soon announce a new cohort of “10 transformational, early-stage businesses.” Bjorn Macauter the General Manager will launch the programme in Kigali.
OVO offers debt financing of between €5,000 and €50,000 which presents a unique approach from other angel networks and investor groups which rely on SAFE (simple agreement for future equity), equity investments, and convertible notes.
In this approach, entrepreneurs use debt financing as a learning tool for entrepreneurs so they can use handle their expenditures wisely and appropriately. OVO presently has over 120 coaches comprising successful current entrepreneurs, investors, and advisors.
Despite last year’s pandemic, OVO invested €168,500 in 8 companies spread across Senegal, Rwanda, and Uganda. This year, it has already invested in health-tech startup.
The SusTech4Rwanda programme is also supported by the African Leadership University (ALU), BAG Innovation, Shared Value Africa Initiative, and the Challenges Group Rwanda. The application window remains ran from March to May.
Sustech4Rwanda 2021, organized by OVO
is taking place at BAG.
In partnership with BAG, @OndernemersNZ is empowering ten high-potential young entrepreneurs in a workshop on best practices for running a successful business.@alueducation@ChallengesGroup@SVAIAfrica @RDBrwanda pic.twitter.com/7jKc0dB57f
— BAG (@baginnovationrw) June 2, 2021