2 Nigerian Startups Chosen For SOSV Orbit Startups Program Gets US$180,000

2 Nigerian Startups Chosen For SOSV Orbit Startups Program Gets US$180,000

One of the latest programs coordinated by the US venture company SOSV, Orbit Startups, has selected Ten startups for its maiden cohort, of which two startups are from Nigeria.

The Orbit program encompasses SOSV existing programs such as Chinaccelerator and MOX, the programs were reflected in Orbit’s functions. Unlike in the past, there is now a geographical shift, such as in Africa, Latin America, the Middle East, and Southeast and South Asia.

The two Nigerian startups picked by the event are Kerdi Bank and GetfundedAfrica.

Kredi Bank is a digital bank that runs a full banking service, presenting itself as a one-stop shop for financial services digitally across the African continent.

GetfundedAfrica is a digital platform that makes use of technology and media to assist startups across the continent find funding for their innovations.

Other startups selected are from Pakistan, India, and Singapore.

Each of the selected startups has received One Hundred and Eighty Thousand US dollars ( $180,000) as initial funding, and access to an intensive training program to support the growth and functions of the startups.

While speaking about the event and its mission, a general partner at SOSV and managing director of Orbit Startups, William Bao Bean said “We are eager to scale breakthrough startups from around the world across emerging and frontier markets, where there are more inefficiencies, fewer legacy industries, and the most opportunities for aggressive growth.”

Discussing the qualification a startup should possess to be selected by Orbit, William said, “Orbit selects tech players that can impact millions of lives at once – startups that are solving monumental problems in healthcare, education, finance, media and logistics; and startups that are future-proofing the local economy through digitalisation.”