Venture Meda

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17  Ethiopian E-Commerce Startups to Pitch at Venture Meda Project  Demo Day

The First Cohort Demo of ‘Job Creation through Incubation and Acceleration’ was held at Elilly International Hotel on Tuesday, October 31, 2023. Hosted by iceaddis under the Venture Meda project, it featured 17 innovative startups that were enrolled in the incubation and acceleration service. The project aims to foster entrepreneurship and innovation in Ethiopia by providing training, mentorship and funding opportunities to aspiring entrepreneurs.

 

This event served as a platform to display the works of promising projects and create opportunities to present their ideas to potential investors. The First Cohort Demo Day also reflected the program’s commitment to nurturing innovation and entrepreneurship that can play an important role in the blossoming digital economy. 

 

The Venture Meda project was launched in partnership with Mastercard Foundation, the Ministry of Innovation and Technology, and Iceaddis on May 1, 2022. Venture Meda aims to strengthen the e-commerce sector in Ethiopia while creating 56,000 direct jobs for young women and men over a five-year period.  The project extends to render an additional 77,000 indirect jobs for young people nationwide. These supports include tailored training, coaching, mentorship, seed funding, creating access to investment and finance, promotion, and networking for working on online marketplaces across all sectors.

 

“E-commerce and digitized services in Agriculture, Manufacturing, ICT and Tourism sectors are focus areas in the Digital Ethiopia 2025. It is our mission to lead, enable and design digital foundations and enabling systems needed to create more and inclusive jobs. This will contribute to realizing inclusive prosperity. The Ministry is committed to enabling job creation via Technology and Innovation. It is my hope that VentureMedia will be a showcase and a success story of working in collaboration with partners in creating decent jobs.” 

– H.E. Huria Ali

 

“At the heart of our mission is a deep commitment to empowering entrepreneurs and fostering economic growth. Through this partnership, we are excited to support high-potential e-commerce startups, activate thousands of young people in Ethiopia, and create quality jobs. As one of the leading pan-African incubators and accelerators, we believe that by leveraging the power of technology, community, and innovation, we can create lasting value for startups and society as a whole”. 

– Markos Lemma

 

“ I am a woman who proudly applauds for myself and the success that I have come to by fearlessly following my passion for maternal and child health care and nutrition”.

 – Hana Samson, Healthy Start 

 

“The overall outcome of the program specifically helped Garden of Eden to come up with the best solutions; products and services that are significantly desirable for the end user, economically viable from a business perspective, and of course technologically feasible”. 

– Eden Aminu, Garden of Eden

 

“Venture Meda – acceleration program support has many features: providing resources, mentorship, and guidance – we have access to experience a one-to-one mentorship, training sessions that cover various aspects of business development, marketing and branding, finance and relevant topics, network and connection – got the opportunity to connect with a wide network of entrepreneurs and investors through founders breakfast programs and of course funding opportunity.”

  • Samrawit Tarekegn of Mogzit



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Note to Editor

 

For six months, the project incubated and accelerated twenty start-ups, ten in the early stage and ten in the growth stage. The start-ups gained knowledge and skills in various business domains, such as business models, branding, marketing, financial management and record keeping, pitching skills, and technology audit. The project also provided them with seed funding and tailored mentoring in their areas of need. The start-ups were featured on social media and attended networking events by the project’s partners, including iceaddis.

 

The Accelerator Program

The acceleration program aims to onboard high-potential growth-stage startups from all regions, every year to scale through a rapid process of exposure to national and international capital and industry connections. The startups of the first cohort accelerator program are the following.

 

  1. Mogzit In-home Care is a platform for in-home care services that aims to be a link between professional caregivers and care seekers. The service has a rigorous vetting process, live tracking, and review & recommendation features, which make the booking process easy and safe.

 

  1. TENAWO Digital Health E-commerce is a multi-user and comprehensive digital health e-commerce and health consultancy. The platform, a B2B platform that sources revenue through commission, works at bridging communication gaps between healthcare professionals, healthcare facilities, and clients.

 

  1. Medaf Design Technology provides e-learning after-school services for primary and secondary school students based on students’ understanding ability and learning level. The service is supplemented by continuous assessment and aids students in fitting with their grade level.

 

  1. Kamrach.com Marketplace is a B2B and B2C marketplace e-commerce platform for multi-sellers aimed at growing local wholesale and distribution businesses. The platform offers a price advantage similar to manufacturers, and farmers.

 

  1. WEZ Vehicle Intermediary PLC is a ride-hailing startup in Addis Ababa, with over 20,000 drivers. The start-up introduced carpooling, lowering passenger transportation costs and increasing earnings for drivers.

 

  1. Room.et is a marketplace for hotel rooms, which aims to bring ease to customers’ hotel booking experience. Room.et makes hotel booking easy by providing reliable information on the hotel, enabling customers to compare prices, location, and hotel type, as well as book and pay for hotel rooms online.

 

  1. Yetem Delivery focuses on delivering food & beverages from service providers to customers. Using a short code phone line, a website, or a phone application, customers are able to pick their favorite restaurant and order food & drinks to be delivered to their preferred location.

 

  1. Taywan is a hybrid B2B and B2C e-commerce platform for informal trade and restocking for merchants, retailers and kiosks across Ethiopia. The business aims to streamline the procurement process and provide a convenient and efficient way to purchase products and services.

 

  1. Pick Delivery is an online on-demand food delivery service provider in Adama City. Taking delivery orders through a mobile application and call center, the service brings convenience to customers and is a new marketplace for restaurants to advertise and maximize their customer base.

The incubator program

This program combines comprehensive diagnostics, tailored training, tech audits, and one-on-one coaching for early-stage e-commerce companies that can scale and transform communities with support.  The startups in the first cohort incubator program are the following.

  

  1. F.O.X Events is an all-in-one e-commerce platform, a hassle-free vendor booking for every event and everyone. On FOX, anyone can now book and hire vendors in categories like venues, DJs, photographers, catering, and equipment rental. F.O.X stands for Fun Original Xperience and the platform offers access to 100+ vendors, Budget-friendly services, and a  simple platform that can make event planning hassle-free be it physical, virtual, or hybrid.

 

  1. Garden of Eden Organic Solutions Enterprise is an organic fertilizer manufacturer and an agri-service provider engaged in agricultural & food waste management, gardening, urban farming, and biogas plant installations. They address agriculture productivity and renewable energy gaps using an e-commerce platform for order and purchase, delivery control, and payments.

  

  1. Raklias is a clothing brand based in Ethiopia. It uses local resources to create fair-priced, custom-made clothes. Founder Rakeb combines her Ethiopian roots with her family’s long-standing history in men’s tailored suits. The brand’s MODERN DAY KUTA Collection (የዘመኑ ኩታ) is its first digital fashion NFT project showcased on OpenSea in September 2022.

 

  1. Tuba is a platform that creates digital access to the work of Ethiopian authors and writers in the form of eBooks and audiobooks. The archive of the app includes biographies of famous Ethiopians, travel diaries, as well as many books from renowned authors.

 

  1. MAHA is an e-commerce store dedicated to promoting local machinery. The platform, which provides organized information on machines for customers, was created to fill an information gap in the machinery market and aims to bring together machine manufacturers and buyers.

 

  1. Bete-Zema is an online music marketplace platform that provides artists with the tools to easily start and complete their music projects. The platform connects aspiring artists with professionals and assists musicians in producing their projects. 

 

  1. Edify is a service platform that connects educational experts, particularly tutors, with students by providing readily available educational support. The platform, which aims to support parents in helping their children in school, also expands the reach for tutors.

 

  1. Bright Manufacturing is a new company providing high-quality gluten-free starch from the enset plant to be used for food and other purposes like using the plant’s fibers for gypsum works. Founded by three chemical engineers who know their way through the technology, the company is producing quality products to meet demand through a B2B model.

 

  1. Healthy Start is an online nutritional program focused on mothers and children. Aiming to bridge the gap in online nutritional consultancy services, the service is intended to increase nutritional awareness and accessibility of service. 

  

 

The Partners

 

About the Ministry of Innovation and Technology (MInT)

 

A government body established under the Laws of Ethiopia as a Ministry, with its powers and duties defined in November 2018 by Proclamation No. 1097/2018. MInT is established to foster and support the development of innovation and technology within Ethiopia.

For more information, please visit https://mint.gov.et/

 

About the Mastercard Foundation

 

The Mastercard Foundation works with visionary organizations to enable young people in Africa and in Indigenous communities in Canada to access dignified and fulfilling work. It is one of the largest private foundations in the world with a mission to advance learning and promote financial inclusion to create an inclusive and equitable world. The Foundation was created by Mastercard in 2006 as an independent organization with its own Board of

Directors and management.

For more information, please visit: www.mastercardfdn.org

 

About Iceaddis

Iceaddis, (ice stands for Innovation, Collaboration, Entrepreneurship) is Ethiopia’s first innovation hub and tech startup incubator established in 2011. Iceaddis is a co-creation space that accelerates high-potential startups, facilitates technological innovations, and works with a multi-partnership approach to activate youth to gain economic empowerment.

For more information, please visit: www.iceaddis.com



For more information on the project or for setting up interviews, please contact:

Name: Lensa Kebede

Role: Project Lead

Iceaddis

Email lensa.kebede@iceaddis.com 

Phone number +251911178129