A uncap, an institution created in 2019 with the intention of allowing all funders deserving sub-Saharan Africans to access early-stage investments, opened applications to fund innovative projects on the continent.
As it turns out, this funding comes from difficult access to finance at an early stage, which is unevenly dispersed and severely biased by gender, education and region, as well as being one of the obstacles to equal opportunity in business growth.
"Our goal is to empower funders to have an equal experience by redefining their fundraising path through Uncap's automated, inclusive and data-driven methodology“, informed Esther Ndeti, Principal Investor of Uncap.
Uncap was created to provide a new and cutting-edge special method of supporting young early-stage business entrepreneurs through a remote, data-driven and largely automated procedure.
Its aim is to give talented entrepreneurs, regardless of their gender, educational level, social status or region, access to the finance they need to succeed. Training women entrepreneurs, underrepresented in numerous industries, is one of Uncap's main objectives.
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According to the numbers, Uncap invested in 27 companies in 2020, and of more than 800 complete registrations, 70 offers were made in 2021. For that year, 2022, it is intended to quadruple last year's numbers.
In the online application form, founders can request money from Uncap. Candidates simply set up an account and provide information about their company. They will be informed if they have been selected after the application procedure, which entails a variety of cognitive and personality tests, business skills and financial insights completed.
Once the investment contract is signed, they have access to resources as well as automatic KPI analysis, where selected candidates will also join Uncap's expanding network of entrepreneurs and have access to it.
Applicants must have a scalable business strategy, have at least 12 months of economic activity, and meet other requirements to be considered for funding. All founders are welcome to apply, not just those in the tech industry.
The registration period is open from July 18th to September 16th, where you can register by clicking on here.
