African startups are invited to apply for the Daikin-Samurai Incubate Africa Ideathon, for a chance to pitch innovative solutions to Daikin, a USD 200 Bn turnover Japan-based company and world’s leading Air Conditioning company. The winning startup pitch will also stand a chance to receive an investment from Samurai Incubate, a Japanese early-stage venture capital firm.
The Ideathon will target startups from African countries and will offer 10 shortlisted finalists to participate in the pitching event slated on December 11th, 2019 in Nairobi, Kenya. The application is opened for companies in Fintech (mobile money/banking/payment/lending solutions), E-commerce, Property Tech/ RealTech, CleanTech and AirTech.
A few other startups that will propose great ideas with regards to scaling Daikin’s potential sales in Africa will be invited to a committee in early 2020 to discuss possible partnerships. If agreed upon and approved, startups can commence Proof-of-Concept of the idea with the budget fully covered by Daikin.
Travel and accommodation expenses for the 10 finalists will be covered by the organisers, including air tickets, accommodation and visa for up to two members per team.
Application for the Ideathon will close on November 20
To take part in the Daikin-Samurai Incubate Africa Ideathon, startups must:
- Be based in or planning to expand into one or more countries on the African continent where there is a demand for air conditioners
- Be a for-profit company registered as an independent legal entity
- Have a product or service available on the market and generate revenue in the following business domains: fintech (mobile money/banking/payment/lending solutions), e-commerce, property tech/real estate, clean energy and airtech.
- Have a product or service designed for scale
- Have a very strong management team of at least 2 people
- Be seeking an opportunity to be a potential African partner for scaling their business as well as Daikin’s business penetration in Africa by collaboration and partnership.
About Daikin and Samurai Incubate
Daikin is a leading, Osaka- based multinational manufacturer of air conditioning (AC) units. Founded in 1924, the company offers a wide range of products such as both residential and marine air conditioning systems, refrigeration systems and chemicals. Its products and services offered in over 150 countries globally with over 100 production bases globally help Daikin to record annual sales of over USD 200 Bn.
Daikin seeks to work with African startups to penetrate and actively sell its products in the African market.
Samurai Incubate Africa Inc. was founded in May 2018 as a subsidiary of Samurai Incubate Inc., Japanese venture capital firm investing into seed-stage startups in 2008. Samurai Incubate Africa has invested in 16 African startups as of October 2019 in South Africa, Kenya, Uganda, Rwanda and Nigeria.
For more information on the event and to apply to the Ideathon please click here.
For any query on the event get in touch through [email protected]