Deal Street

African Startup Funding Tracker

$616,779,000+

*Data updated daily at 18:00 EAT

African Startups Awarded By The Milken Institute & Motsepe Foundation
African Startups Awarded By The Milken Institute & Motsepe Foundation

Tanzania biotech startup NovFeed has been announced as first prize winner of the Milken-Motsepe prize in Agritech. The company secured a USD 1 M prize for their success. NovFeed has developed a biotechnological platform that relies on a fermentation process in which microorganisms produce a nutritious, high-protein feed from organic waste. A USD 300 K award for second place was presented to Karpolax, a Uganda-based company. The startup’s  nanotechnology solution that helps fruits and vegetables stay fresh longer without losing nutritional value earned it the prize. 

IRRI-AfricaRice came third for its biotech innovation to help rice farmers protect their crops from flooding, winning USD 150 K. Bonus prizes of USD 100 K each were also announced. Kuronga , based in South Africa, took the bonus prize for the most creative use of Fourth Industrial Revolution technologies for its machine learning and machine vision mobile app.

COOL LION , a Côte d’Ivoire-based start-up, took home the People’s Choice bonus prize for the most transformative idea according to the public. The company provides cooling-as-a-service solutions for different industries (agriculture, fisheries, etc.), powered by renewable energy. 

Teams also received a variety of special benefits, including participation in a tuition-free, experiential learning program offered by Global Innovation Catalyst in collaboration with Stanford Online, where they received mentoring from industry experts, pitch coaching, and feedback sessions. The prizes were awarded at the Milken Institute Global Conference in Los Angeles, California.