Today Microtraction team are announcing the launch of Microtraction Scout Program — an initiative that empowers venture-backed founders and operators to identify and invest in high potential startups across the African continent. Microtraction was founded in 2017 to be the most accessible and preferred source of pre-seed funding for remarkable African technology entrepreneurs building companies and products that solve important challenges being faced on the continent.
In less than two years since we launched, we have backed and partnered with 9 companies who are building a future we want to create. They are building the first and largest biobank of African DNA for the entire continent, democratizing access to wealth for the average African and powering cashflow across schools in Africa, to mention a few. 100% of the companies we partnered with have secured follow-on funding within 12 months of us investing, raising from top investors globally and continentally
However, there’s a problem that we must solve — the majority (>90%) of our applications are from Nigeria and 100% of all our investments to date have been Nigerian investments.
The following are benefits of being a Microtraction Scout:
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