Togo: 20 startups to compete in the Kpital Race fundraising process

Monday, 05 July 2021 13:49
Togo: 20 startups to compete in the Kpital Race fundraising process

(Togo First) - CUBE, the Togolese incubator, released last Thursday a list of 20 startups selected to take part in the Kpital Race fundraising. 

In addition to Millenium Microfinance and Cofina, more than 10 business angels took part in the selection process, sorting submitted projects by their relevance, the needs they meet, and turnout potential. 

Nine of the selected startups operate in agribusiness and agritech, two in ICTs, three in craftsmanship, two in education, and the last in the cleaning industry. They will now go through a six-week preparation phase at the end of which they will present their respective projects to a panel of investors. 

This process just began and these projects will now start the most important phase which is to get ready for the fundraising that will begin with the elaboration and testing of a business model and market studies, for projects which are still at the ideation and prototype level, and full due diligence for expanding projects. It’s only at the end of this process that the best projects will be submitted to financial partners for funding, a statement on CUBE’s website reads.

Let’s recall that Brightmore Capital, the West African impact investment fund is also engaged in the initiative. 

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