Seedstars World is coming to Libya for the first time ever! In what will become the maiden edition of the competition in the Northern African nation, Seedstars World; one of the largest startup competitions for emerging markets will be exploring the Libyan entrepreneurial landscape in a bid to unearth some of the most promising seed-stage startups available in the country.
Startups that are eligible to be featured in what has been christened the first ever Seedstars Tripoli are expected to satisfy a number of criteria. As a prerequisite, prospective seed-stage startups are expected to be no more than a year-old, have raised less than USD 500 K in funding and own a minimum viable product that ideally has the potential to gain some traction. These requirements are in line with Seedstars’ preference for products that have both regional and global-scalability.
During the course of the event, ten selected startups will each be allocated a time interval of five minutes within which they are expected to deliver pitches in English and essentially sell their business idea to the presiding jury. The jury is billed to encompass representatives from the local startup ecosystem, as well as notable personalities from the global entrepreneurial scene.
The jury will shoulder the responsibility of adjudging which startup is best poised to deliver, and the winning startup will then be afforded the opportunity of participating in the grand finale; the Seedstars Summit, which has been scheduled for Switzerland next year. At the global summit, the winning startup will be pitted against their counterparts from more than sixty emerging markets for the grand prize of USD 1 Mn in equity investment.
“At SeedStars, we believe talent and good ideas are everywhere. We see ourselves as a platform connecting investors to the next generation of startup entrepreneurs in places where people wouldn’t normally think the startup ecosystem has any form of traction, growth or buzz. We are very excited to be in Libya for the first time, and we are here to witness the reality,” Omar Barakat, Seedstars Regional Associate for MENA, is quoted as saying. On a similar note, Seedstars appears to be furthering its reach in the MENA region as plans have also been put in place to host a maiden edition of the competition in Iraq, in the coming weeks.
Seedstars pitch competition for seed-stage startups will debut in Libya on August 6th at the Radisson Blu Hotel, Tripoli.