UAE-based incubator FasterCapital has selected two Cameroonian startups to take part in its incubation program. Bamai Namata’s Maibeta and Churchill Nanje’s Njorku are the two startups fortunate to enroll in FasterCapital’s acceleration program. The incubator made the announcement on their official website late in April.
The virtual incubator on April 11, had launched the second round of its incubation program to run from April 15 to July 16, 2018. Through this second round of funding, FasterCapital aimed at scouting for promising IT startups around the globe.
Our next #round of funding will open on 15th April. Non-technical #entrepreneurs who couldn't find a #technical co-founder to build their startups can join our incubator now https://t.co/TRFEgLlKyC. FasterCapital will build your product plus invest 50% of the seed funding. pic.twitter.com/Gi9wxe52ZZ
— FasterCapital (@FasterCapital) April 11, 2018
According to the firm, it will invest 50% seed funding of between $200.000 to $2 million in successful startups.
During this period, Cameroon-based Maibeta and Njorku applied to be incubated by the virtual accelerator. Their aim was to scale their respective startups and establish an unshakable footprint/presence across Africa.
About FasterCapital and the startups
It is an Emirati incubator that offers funding, mentorship, and networking opportunities to tech startups globally.
Since 2014, the startup, under its founder Bamai Namata, has provided long-lasting solutions to the difficulties most people face with accessing and hiring very reliable technicians for technical jobs both in homes and offices.
With the aim of expanding its user-base nationally, the company aimed at raising $40.000 to realize this objective. When the incubator launched the second round of their incubation program last month, it was, therefore, an opportunity for Bamai Namata to raise $40.000 and scale across the country.
This development, however, comes just as the technical digital services startup recently launched a crowdfunding campaign. Through this campaign, Maibeta, thus, aims to raise funds to create lucrative employment to 500.000 Africans through its online platform.
Another Silicon Mountain-based startup, Njorku founded in 2011 by Churchill Nanje, is a fast-growing job search engine and aggregator that helps thousands of African job seekers find employment opportunities in locations nearest to them. Churchill Nanje and his team aim to raise $300.000 through FasterCapital to better develop Africa’s largest job search engine–njorku.com.
We are delighted to welcome @njorku with its founder @mambenanje into our #acceleration program.Njorku was introduced to FasterCapital by its regional partner @RFomundam . Team behind Njorku are looking to raise $300k through our acceleration program. https://t.co/t0o92P9rku pic.twitter.com/zeSsXqdHsl
— FasterCapital (@FasterCapital) April 24, 2018
The incubator’s regional partner for Cameroon, Roland Fomundam, introduced both startups to FasterCapital’s acceleration program earlier this year. FasterCapital’s regional partners represent the firm in different countries worldwide.
More than seven years ago, a small consortium of individuals launched FasterCapital, a Dubai-based virtual incubator. However, FasterCapital had a happy challenge of finding and accelerating the best IT startups through its incubation program.
Selected startups will receive mentoring, access to capital, and business resources from FasterCapital.