On February 6th, StartUp Namibia held its first pitch event “Pitch-on-Point” at the Am Weinberg Boutique Hotel in Windhoek.
Pitch-on-Point (PoP) is a platform with which startups can access the StartUp Namibia Slingshot Fund. This consists of growth financing and business advice that will act as a catalyst for their expansion and further growth after the StartUp Namibia incubation programs are completed.
The event should determine who the selected companies would be based on the merits and potential of their ideas and the future conduct of the business.
20 startups were shortlisted through an evaluation process based on innovation, market size, growth potential, and willingness to adapt and leverage management consulting.
All 20 startups presented their business ideas to a jury of highly qualified judges. The jury came from; StartUp Namibia, Development Bank of Namibia (DBN), Business Financial Solutions (BFS), Pension Fund for State Institutions (GIPF), EOS Capital and the Namibia Business Angel Network (NABAN).
Pitch-on-Point winners will each receive up to 5000 euros, approximately N $ 90,660.00.
The 10 startups that were victorious at the event were: Rote Schürz, LEFA, Eco-Glider Pilot Tours, Kanie, Worms R Us, Sci-Data, Verime, Nam Tutoren, Jumper Namibia and Kamatjona.
Each of the winning startups offered innovative concepts that spoke to the judges and turned out to be a viable, growth-oriented business. Jumper Namibia uses VR technology to create unique marketing videos and Eco-Gliding Tours are no different, offering tours of Swakopmund on Segways. Really an innovation for the Namibian tourism industry.
The Slingshot Fund is a milestone based fund. This means that the successful startups must meet certain milestones in the next 6 months in order to access the fund.
“Some of the most successful startups are born in crisis, and out of necessity this is a time of global disruption. Now is the time to be brave, because brave is the new normal ”, said Anna Vambe, project manager of StartUp Namibia.
The startups were definitely brave and presented fresh and unique ideas that show that the ecosystem for entrepreneurs and their young, new and innovative businesses is alive and well.
The StartUp Namibia project is a joint Namibian-German technical cooperation project for sustainable economic development, financed by the German government and carried out by GIZ together with the Namibian Ministry of Trade and Industrialization (MIT), the Ministry of Higher Education, Technology and Innovation ( MHETI) and the City of Windhoek (COW). Basecamp, the Startup Incubation and Innovation Center of the StartUp Namibia project, was set up to support and strengthen Namibia’s entrepreneurial ecosystem.
Left to right. Jesaya Hano-Oshike; StartUp Nam Head of Business Development, Nicole Maske; Managing Partner – EOS Capital & Loise Katanga StartUp Nam business developer