Are you an African startup looking to grow your business on a larger scale? Moka Smart City is inviting you to participate to their first ‘Grand Challenge’, targeting African startups. Moka Smart City Mobility, the organisation behind this challenge, aims to make entrepreneurs aware of business opportunities within the green mobility space. Based in Mauritius, Moka Smart City is launching the Grand Challenge in order to identify start-ups that can offer smart, eco-friendly solutions.
Moka Smart City Mobility is looking for start-ups who have a solution in the market but are looking for growth and scaling opportunities.
The criteria is as follows:
Your start-up is for profit, registered, up to date with all your local compliance and governance requirements.
You have a mobility related product or service available in the market (your home market or another one in Africa) right now, with demonstrated tangible traction and evidence of clients and revenue.
You have a strong management team, consisting of at least 3 people and you have the resources to deploy a team in Mauritius to implement the project.
You or one of your senior team members is able to travel to Mauritius in July 2019 (exact dates to be confirmed) to meet with the selection committee and partners, if you are shortlisted.
Your team is based in either France, Kenya, Madagascar, Mauritius, Nigeria, Reunion, Rwanda, Singapore, South Africa, Ivory Coast or Sweden.
You have potential to achieve scale into multiple markets.
You are willing to establish a Mauritius entity or subsidiary and actively engage with the local start-up community.
While there will be exceptions, mostly likely your start-up has already received investment capital, structured as either debt or equity, or received grants from donor organizations.
The grand prize includes:
Moka Smart City is giving you a 12 month exclusive commercial contract with Moka Smart City and a 2,800USD monthly subsidy in order to cover any deficits that may be incurred by the start-up during its first year (12 months).
Compass Venture Capital: USD 40,000 investment so that the start-up can set up in Mauritius,
PwC Mauritius: Offers to pilot the winning solution for its Head Office in Telfair, which is situated at the heart of Moka Smart City, along with assisting the founders of the start-up with coaching and mentoring.
ENS Africa Mauritius: offers legal expertise with regards to the regulatory frameworks surrounding transport in Mauritius and Smart Cities.
Turbine: Offers a free co-working space to the winning team along with an Incubation offer which comprises of free access to experts’ advice, potential investors and networking opportunities.
The best 6 startups will be invited (air tickets and accommodation for one team member per selected startup) to present their respective solutions in July during a Demo Day which will be held at Turbine in Mauritius. Members of the jury are Fabrice Boullé, from Compass Venture Capital, Sarah Boulanger from Moka Smart City, Samuel de Gersigny from Moka Smart City, Olivier Ma, from PwC Mauritius, Natasha behary Peray from ENS Africa and Diane Maigrot from Turbine.
More details can be found on Turbine’s website here. Applications close on the 24 June 2019.