Angaza Capital Launches Funding Program for Rwandan Startups

The Rwanda Innovation Fund has announced that Rwandan startups can apply for its accelerator aimed at supporting disruptive and innovative startups providing sustainability solutions in the region.

The program is being organized by Rwanda and Angaza Capital, an investment group with offices in Abu Dhabi and Tel Aviv, who collaborated on the project.

To assist the country’s development of a mature innovation eco-system as well as invest in African startups, selected startups can receive between $250k and $5m in funding.

Paula Ingabire, Minister of ICT and Innovation speaking said: “The Government of Rwanda is excited to be part of this unique fund, being the first government-backed venture capital fund.

“Rwanda is excited to be investing in Rwandan and African companies bringing to market innovative solutions addressing the challenges on the African continent. Rwanda, being well-positioned as a Pan-African technology and innovation hub and through our partnership with Angaza, aspires to help Rwandan and African companies scale across Africa”.

Angela Homsi, Angaza Capital Chair also added that innovative startups can help solve Africa’s most pressing problems.

“Backing smart and sustainable innovation in Africa presents today the biggest opportunity to fully align a clean and inclusive future for all, with outsized performance, by deploying the latest distributed, AI/ML, cloud technologies (and more) in hardly penetrated markets.

“Innovative technologies now have endless potential to change billions of lives and solve the continent’s most pressing problems, and Rwanda can stand at the forefront of this growing momentum.

“With decades of cumulative experience across the continent’s business and innovation spheres, we focus on growth-stage ventures that present the biggest need, alongside the most substantial potential for impact on a large scale,” Homsi said.

The application is open and interested startups can click here.