Nigeria’s leading technology innovation centre, Co-creation Hub (CcHUB) has announced the launch of PitchDrive to take African technology startups on a fundraising tour of European tech hubs.
PitchDrive will take a few tech startups from Africa on a three weeks, five-city European tech hub tour across London, Amsterdam, Berlin, Zurich and Paris.
At the end of the tour, the startups would have pitched to over 300 investors, even as they hope to raise over US$24.7 million (€20 million) within that period.
“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,” said ‘Bosun Tijani, CcHUB founder and CEO.
He added, “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.”
The event is open (applications closes 18 June 2017) to revenue-generating tech startups in Africa that are not less than two years old, have strong management team, and are looking to fundraise at seed stage and above.
15 startups will be selected for the tour which will commence at Google’s Campus London on 14 August 2017 and end at NUMA Paris three weeks later – on 6 September. In between, the cohort will visit TQ Amsterdam, Factory Berlin and Impact Hub in Zurich.
During the tour, the startups will be mentored and supported by notable tech founders well versed in fund raising, including Iroko Founder and CEO Jason Njoku, Saidah Nash Carter of Reuters, and Stephen Newton of Illuminate Africa
Launched in partnership with Google for Entrepreneurs, PitchDrive aims to build stronger networks between European investors and African tech talent. It will open the sector to investors looking to add emerging markets startups to their portfolios.
Head of Global Partnerships Google for Entrepreneurs, David Grunwald said, ”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.”