CcHub and Google for Entrepreneurs launches European PitchDrive tour to raise $22m for African tech startups
Co-creation Hub (CcHUB), a technology innovation Centre in Nigeria and Google for Entrepreneurs, have announced the launch of PitchDrive, a three week, five-city European tech hub tour across London, Amsterdam, Berlin, Zurich and Paris.
This partnership will bring 15 elite African tech companies together to pitch to investors, explore international opportunities and learn about frontier technology markets.
African startup founders looking to raise Series A funding and above will be selected by the PitchDrive team to embark on a landmark tour that aims to build stronger networks between European investors and African tech talent. Starting in London on 14th of August 2017, the cohort will visit Google’s Campus London, TQ Amsterdam, Factory Berlin and Impact Hub in Zurich, concluding at NUMA Paris.
Upon completion of the tour, the inaugural cohort will have pitched to over 300 investors, with the specific goal of raising over €20M in the three week period. This is the first tour of its kind to connect African tech companies with European capital, and the PitchDrive team is aiming to open up the sector to investors who want to build their portfolios to include emerging markets.
Bosun Tijani, CcHub Founder and CEO says, “PitchDrive will hit the road in August to connect Africa’s tech elite with Europe’s most influential investors. Applicants will be subjected to a rigorous selection process, and those selected will go on to have their business models scrutinised and analysed by some very shrewd and highly experienced investors at a Demo Day on each stop of the tour. It will be tough, but ultimately, we hope to help secure a number of breakthrough capital deals for those who embark on this journey with us. This is an incredible opportunity, and applications for just 15 places on the PitchDrive bus, are now welcome.
“Google started in a garage two decades ago. Our bus is the equivalent of their garage. We hope that with the support of Google for Entrepreneurs on the PitchDrive tour, we may secure capital to launch a new trajectory for one or two African unicorns of the future”.
PitchDrive will provide all travel, accommodation and visa support, as well mentorship and support from notable tech founders well versed in fund raising, including Iroko Founder and CEO Jason Njoku, Saidah Nash Carter of Reuters, Stephen Newton of Illuminate Africa and David Grunwald of Google for Entrepreneurs.
David Grunwald, Head of Global Partnerships Google for Entrepreneurs, adds, "Entrepreneurs from across Africa are building world-class tech companies, and we are delighted to be able to use the power of the Google for Entrepreneurs network to showcase their fantastic products to audiences in some of Europe's most important tech ecosystems"
Applications are now open for African tech startups who are in a position to fundraise at seed stage and above. Those looking to apply must have been running for at least two years, and be a legal, registered enterprise able to demonstrate a minimum of 12 months revenue-generating operations and must be based in Africa. Ideally, startups will also have a strong management team who have worked together for at least 12 months and the founding team should own between 30-60% of the business with a high quality board. Founders must also be available for a three week period through the Summer of 2017.
The PitchDrive team are also looking for companies that are tech enabled or proprietary/patented tech, technology that has been validated by large reputable corporate customers (where applicable), relates to retail, mobile, financial technology, health or agriculture or have a high differentiation of technology / know how.
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