Two Nigerian Startups won $300,000 at LEAP’s Rocket Fuel pitch Competition in Riyadh, Saudi Arabia.
The winners, RiceAfrika Technologies and Wicrypt won $150,000 each.
A statement by the Ministry of Communications and Digital Economy stated that RiceAfrika Technologies is a tech-driven agric optimisation startup that deploys IoT. It said the firm emerged as the global best in ‘The tech for humanity award’ category.
It added that Wicrypt, an innovative tech startup decentralising Internet globally, was announced as the global best in ‘The into new world award’ category.
According to the statement, over 10,000 startups submitted applications from different countries, with 220 considered, and only 90 startups selected to pitch their business ideas in the semi-final. It said eight Nigerian startups participated at the semi-final, and three reached the final stage.
The Minister of Communications and Digital Economy, Isa Pantami, said, ““I am so proud of our startups who emerged as the global best in these categories.
“It is quite a long journey that followed rigorous process until the end; from over 10,000 applications to the final 12, in which three Nigerians took part and two emerged winners. We are delighted that our startups are not only amazing but went through a lot of nurturing and mentorship to be the best in the world.”
According to him, the country was on the right track in implementing its National Digital Economy Policy and Strategies to ensure that Nigerian Startups added value to the global tech ecosystem.
He noted, “The eight entries from Nigeria competed with over 90 Startups in the semi-finals, showcasing their innovative ideas that will transform economies and solve pertinent issues around the world.
“Therefore, they emerged global best. They did not only pitch to win grants but also attended various knowledge-sharing sessions, conferences and investor meetings that have exposed them to numerous ways to accelerate their products for the best market fit. The startups interacted with the world’s best mentors, angel investors, and venture capitalists.”
