- Program expected to build capacity and inject investment into Blue economy startups from Africa
- Women and youth-owned ocean-based enterprises key target
NAIROBI, KENYA June 29th, 2021… Norwegian-based accelerator Pangea has today unveiled Kenya’s first-ever Blue Economy accelerator program. The move is aimed at advancing a sustainable blue economy ecosystem in Kenya as a vehicle for economic development and growth through the creation of jobs and reduction of poverty.
The program, now open for application until 29th August 2021 is designed to support start-ups that focus on aquaculture, maritime and security, and innovative industries. Other sectors of interest are cold chain logistics, oceanic waste management, blue carbon, finance/fintech, blue energy, digital solutions and seafood products.
Speaking during the launch, Pangea CEO Jonas Tesfu said, “the program is expected to build capacity and inject investment into Blue economy startups from Africa tackling the greatest opportunities and challenges in the sector. Our mission is to reshape the way the Blue Economy is run in Africa by supporting innovative solutions and ecosystem building together with government, investors and the private sector.”
Successful applicants will be connected with local and international investors for early stage funding of up to $100,000 or seed funding which ranges up to $500,000 USD. Besides, the startups will receive personalised coaching, business to business sales opportunities,and adaptive learning to meet their unique needs during the three months program period
To qualify, the startups will be required to prove their ability to offer solutions to the market, be technology driven, show impact of their work and have an existing strong team.
Women and youth-owned ocean-based enterprises are highly encouraged to apply through the programs website.
The blue economy accelerator program also has the ambition to strengthen the dialogue with the Norwegian business community on the possibilities of investing in ocean industries in developing countries, to contribute to value and job creation.
About Pangea Accelerator
Pangea Accelerator is a Norwegian accelerator and an investment platform operating in East Africa that matches African startups with investors, foundations, and development agencies to reach a global scale. Learn more about Pangea Accelerator here.