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Orange Ventures and Digital Africa are collaborating to increase investment in ICT startups in Africa and the Middle East. As part of Digital Africa's Fuzé program, five startups in the ODC network were funded for up to €50,000 (US$54,200) each during the first year.Through Digital Africa’s Fuzé program, Orange Ventures and Digital Africa are collaborating to increase investment in ICT startups in Africa and the Middle East. Following a prior strategic relationship between the two groups, which was struck in June 2023 to simplify the financing and development of companies from the Orange Digital Centre (ODC) network, the partnership agreement was inked this week at Vivatech in Paris.
Orange Ventures announced that by jointly evaluating applications and exploring the prospect of joint financing, the Fuzé scheme now makes it feasible to double the amount of money committed by one of the two parties. As part of Digital Africa’s Fuzé program, five startups in the ODC network were funded for up to €50,000 (US$54,200) each during the first year.
Of these beneficiaries, two are Senegalese, namely Tolbi (agritech) and Proboutik (fintech); three are headquartered in Cameroon: Clinihome (healthtech), Koree (fintech), and Colorfol (cultural and creative industries). According to Orange, the money will allow them to greatly increase their operations.
In Africa, Orange Digital Centres are expanding.
Orange Digital Centres are located in eight countries in Europe and 17 countries in Africa and the Middle East. They offer a variety of free programs, including startup incubation and acceleration, digital training for youth, and investment in and support of project leaders, all in one place. The ODCs provide assistance at every stage of the startup process in an effort to promote innovation and entrepreneurship in the area.
“The Orange Group is devoted to fostering the next generation of Middle Eastern and African tech leaders. “This partnership between Orange Ventures, Orange Middle East and Africa, and Digital Africa will allow us to pool our resources to build an environment that supports the growth of startups in the Middle East and Africa,” stated Orange Ventures managing partner Fayçal Adlouni.
Grégoire de Padirac, CEO of Digital Africa, went on to say that the organisations are dedicated to helping African business owners from the very beginning by offering them a wide range of funding options and assistance.
