Microsoft, Adobe, Cisco and Google eye buyouts in Kenya
BUSINESS| July 4, 2012, 6:12 p.m.
By Semaj Itosno, Nairobi, Kenya
Global IT firms, Microsoft, Adobe, Cisco and Google will converge in Nairobi from October 24 to 26 in search of firms or new software developed within Africa, which they can buy out.
The firms will convene at a meeting hosted by Demo Africa aimed at identifying the most innovative emerging and established companies from around Africa.
Demo, a launch pad for emerging technology and trends in Africa, has partnered with Venture Capital for Africa — an online network of entrepreneurs and investors building innovative companies on the continent — to bring the event to Kenya.
The meeting is aimed at exposing budding IT firms to the global buyers, who will be scouting for software firms that can help them scale their products and services to the next level.
Harry Hare, executive director of Demo Africa, said the event is different from previous ones held by equity capitalists in the country in that the multinationals will be looking for products that are ready to market as opposed to giving grants for competition or funds for developing a product.
“We are very excited about holding the inaugural Demo event on the African continent. This collaboration with VC4Africa will serve to increase the outreach and ultimate participation at the event by Africa’s most innovative entrepreneurs as well as investors who are looking for the next big thing in Africa,” Mr Hare said.
Hand-picked and specially selected companies will deliver their six-minute pitches to potential investors and buyers to garner their buy-in and interest.
here will also be presentations and panel discussions from leading industry players and experts on consumer electronics, web-based applications, mobile technology, social media, life sciences, as well as sustainable and renewable energy.
Ben White, founder of VC4Africa said: “The number of ventures coming online across Africa is rapidly increasing... Joining forces allows us to welcome a new wave of innovators, put them in the spotlight for investors.”
The Demo conferences have earned their reputation for consistently identifying tomorrow’s cutting-edge technologies and have served as launch pads for many companies.
MORE BUSINESS NEWS
Microsoft 4Afrika launches Biz4Afrika online SME hubMicrosoft 4Afrika used the opening of the Connected East Africa event in Diani, Kenya today to launch Biz4Afrika, an online hub providing Kenyan small and medium enterprises (SMEs) with access to locally relevant information and promote trade. Read More
BTCL, SA’s Vodafone seal partnershipBotswana Telecommunications Corporation Limited (BTCL) and South African based Vodafone have signed a non-equity partnership agreement. Read More
Mascom Derby horse race extravaganza for BotswanaMascom is doing it again this year with its annual Mascom horse racing event which has been on the Mascom calendar for at least 10 years. Each year during the Easter holidays, Botswana’s leading mobile telephony provider gets people to Botswana’s tourist resort of Maun for the race. Read More
Togo women get down to ICT training, businessWomen and girls came in numbers last week to attend the three-day Female TechCamp 2015 hosted in the capital Lomé. Read More
MTN Group Sustainability Report releasedMTN Group’s efforts to advance social development in its markets through the integration of sustainable business practices into day-to-day activities, is yielding positive outcomes, the company’s Sustainability Report shows. Read More
Senegal seeking ICT investment opportunities in MauritaniaMauritania, an impoverished nation in West Africa, is a largely untapped ICT market, according to many Senegalese industry players. A group of ICT companies from Senegal recently visited Mauritania to find out if this statement is indeed true. Read More
Schneider Electric releases the first survey on counterfeit electrical products in AfricaCounterfeiting of most common electrical products is widely spread in all African countries, representing 40% to 80% of their markets, says a new survey. Read More
MTN Business launches services that will host SMEs securely on its domainMTN Business has launched Bring Your Business Online, a platform that gives small and medium-sized businesses (SME) increased visibility by providing online presence on the MTN managed domain for less than R20 a month. Read More
Job fears in Senegal as Tigo outsources network managementPeople working for Tigo Senegal are worried about their jobs after the mobile operator signed an agreement that handed over the management of its network to the Swedish telecom giant Ericsson. Read More
FEATURED STORY2bn priced out of internet access
A new report from the Alliance for Affordable Internet shows that the price of broadband remains prohibitive for billions in developing and emerging countries, with women and rural dwellers hardest hit.
BEST READ NEWS
IN DEPTHVillagers get solar training at Barefoot College
The Botswana Human Resource Development Council (HRDC) has seconded seven semi-illiterate mostly Ngwatle villagers for a six month solar electrification training course at the famed Barefoot College in India.
COMPANY NEWSMicrosoft 4Afrika launches Biz4Afrika online SME hub
Microsoft 4Afrika used the opening of the Connected East Africa event in Diani, Kenya today to launch Biz4Afrika, an online hub providing Kenyan small and medium enterprises ...