Three young Cameroonian startups have officially joined the FCFA 10 million worth 2020 edition of the ANC Startup Accelerator. Ambe Nickson, CEO of ANC Stock Investment, announced the winners during a pitch deck at the ANC Pitch Day event that took place on October 10, 2020, at the ANC Executive Hall in Buea.
Commenting on the recent announcement, Ambe Nickson, Founder & CEO of ANC Stock Investment said, “October 10, 2020, was another remarkable day at ANC Stock Investment Ltd as we took in three new startups into the cohort of companies at the ANC Startup Accelerator program.”
Meet the winners
The three startups: Tasty Bunny, TIMACS, and Nkwa Saving will join the second edition of the ANC Startup Accelerator. The ANC Pitch Day was aimed at selecting the business ventures that will join the second cohort of the ANC Seed Accelerator program.
These startups will go through a 6-months training and subsequently, receive funding for their businesses. At the end of the program, Tasty Bunny in the agricultural sector will receive pre-face seed capital of FCFA 3 Million while TIMACS in the e-commerce sector and Nkwa Saving in the financial industry, will both receive FCFA 2 Million and FCFA 1 Million respectively.
During the 6-month-long program, ANC Stock will work with these entrepreneurs, helping them finetune their business ideas through mentorship and subsequently, providing them with funding.
Suggested Read: Our Start-up Accelerator Program
ANC Stock Investmentーthe organizers ーhave hinted that the training for these startups will begin mid-November 2020.
It has been a tough journey from the very beginning when the startup opened applications for the 2020 edition. With a total of 21 applications, 5 startups gained access into the pitch hall with 3 finally emerging winners.
“With a seed round of FCFA 10 Million, we are set to scale these startups to the next level of our VC funding round here at ANC Stock Investment Ltd.,” Ambe Nickson said.
These startups, therefore, come to add three different sectors (agriculture, e-commerce, and finance) to ANC’s growing business portfolio of companies.
About the ANC Startup Accelerator?
Launched last year by ANC Stock Investment, the program aims to mentor young entrepreneurs with promising business ideas towards the journey of a successful business future.
More importantly, the ANC Startup Accelerator aims to build sustainable and scalable startups in Cameroon by not just providing funding but also providing hands-on mentorship to ensure their growth while preparing them for venture capital investments.
The program has already successfully graduated 3 startups that now reshaping the fashion, graphics, and food processing industries in Cameroon. It is now hoping to provide the same level of success to the latest round of startups to join the program.
