#startups

Google Play has announced a $1 million fund to support 10 African game studios, addressing the challenges many of these studios face in securing necessary capital for growth. The African gaming market is valued at approximately $2.29 billion, highlighting its potential despite the financial hurdles for local developers.

Catalyst Fund has raised $30 million for its investment strategy focused on climate resilience in Africa, with new investors including the International Finance Corporation, Shell Foundation, and Trafigura Foundation. The fund aims to support early-stage startups that are developing solutions to climate-related challenges across the continent, reflecting a growing interest in adaptation technologies.

The Nairobi International Financial Centre (NIFC) has certified 15 new startups, aiming to attract over $200 million in investments and create more than 1,000 jobs. The certified companies operate in various sectors, including artificial intelligence, digital finance, climate and carbon markets, healthcare, investment management, and financial technology.

Open Startup, a pan-African organization focused on entrepreneurship, is shifting its focus to science and deep technology ventures as it begins its second decade. The organization, which has supported 3,000 founders, introduced 'The Science Road' strategy aimed at helping research-led startups transition from laboratories to commercial markets.

Google has selected 15 AI-focused startups from various African countries including Nigeria, Kenya, South Africa, Uganda, Tanzania, Senegal, Côte d’Ivoire, and Angola for its Google for Startups Accelerator Africa program. This initiative emphasizes a transition towards scalable and revenue-generating innovations within the continent's tech ecosystem. The startups, which span sectors such as fintech, mobility, healthtech, agritech, and SaaS, completed a three-month hybrid program.

On June 18, 15 AI-focused startups from various African countries, including Nigeria, Kenya, South Africa, Uganda, Tanzania, Senegal, Côte d’Ivoire, and Angola, graduated from the Google for Startups Accelerator Africa programme, which is a three-month hybrid initiative.