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
Why govt listed Glo, others as top firmsNigeria’s national carrier, Globacom and 99 other top notch firms have been listed as top 100 Firms in Nigeria for the 2014 fiscal year. The top 100 companies list is based on international benchmark set by the International Integrated Reporting Council. Read More
Women can lead 21st century ICT industry, says Zinox chiefWith the right mix of innovation, business focus, accountability and ambition, women entrepreneurs can spearhead the evolution of the ICT industry in the 21st century, says the Chairman, Zinox Group. Read More
Leading through volatility in AfricaFor the businesses that are prepared to face the storm and manage the volatility afflicting the continent, there are still huge rewards to be had from doing business in Africa, says SAP. Read More
American Tower Corporation, Bharti Airtel in Nigerian tower sale agreementAmerican Tower Corporation and Bharti Airtel Limited have entered into a definitive agreement for the sale of over 4,800 of Airtel’s communications towers in Nigeria. Read More
Mobile backlog affects revenuesNew research shows that a slow approach to app development is increasingly damaging revenue opportunities in the enterprise. The study found that organisations are currently struggling with a significant mobile backlog and unable to cope with business demands. Read More
Kenya courts technology to woo investorsKenya, East Africa’s lead economic hub, has stepped up its efforts to woo investors through its rigorous incorporation and adaptation of technology to ease business transactions. Read More
‘Prepare for an explosive year ahead’ - Dac SystemsFrom a technology solution supply and reselling perspective, 2015 is going to be a bumper year, says Dac Systems. Read More
The Business Network is the futureHyper-connected business networks will extend business processes that used to stop at the walls of the enterprise, and will fulfill the promise of the real-time global networked economy to reduce complexity without sacrificing sophisticated work, says SAP. Read More
Africa SME Champions Forum: creating an ecosystem to support African championsThe Africa SME Champions Forum closed in Dakar last week, but its work in support of African champions is only just beginning. Read More
FEATURED STORYGSMA: half a billion mobile subscribers in SSA by 2020
The number of unique mobile subscribers in Sub-Saharan Africa will pass the half billion mark in 2020, says a new GSMA report.
BEST READ NEWS
IN DEPTHAfrica lags on digital migration
Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.