Microsoft, Adobe, Cisco and Google eye buyouts in Kenya
BUSINESSBy BiztechAfrica - 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
Axiologix completes acquisition of iWorld ServicesAxiologix has completed the acquisition of iWorld Services, which delivers retail and wholesale VoIP services, products, and advanced web applications and software tools targeting high growth emerging markets. Read More
African economies on growth curve: reportIn contrast to the rest of the world’s sluggish progress, African economies stand out for their high rates of growth and the effusive confidence they inspire, according to a new report. Read More
NITRA seeks collaboration with regulator, operatorsThe Nigerian Information Technology Reporters Association has called on the industry regulators and ICT players to partner with the association to strengthen industry. Read More
BT accelerates African growthBT has announced a new phase of investments into the rapidly growing economies of Asia Pacific, Turkey, the Middle East and Africa (AMEA) with the objective of accelerating its expansion in high growth markets. Read More
Flexenclosure delivers turnkey data centre to AngolaFlexenclosure has received a large order from ACS Angola Comunicações e Sistemas, one of Angola’s main suppliers of IT solutions and corporate network connectivity. Read More
A new approach to outsourcing in the changed economyIn a newly shaped landscape, a new set of challenges emerges for outsourcing service providers, says T-Systems. Read More
Energy finds in Africa highlight shifts in sector - DHL reportThe recent oil and gas finds in Africa will continue to have a positive impact on local economies, if local African suppliers, service providers and other businesses are geared up to service this growth. Read More
African Large Format Printer market declinesThe large format printer (LFP) market in Central and Eastern Europe, the Middle East, and Africa (CEMA) region declined 10.7% in volume and 5.1% in value year on year in the first half of 2013, says IDC. Read More
BIH sets up First Steps Venture CentreThe Botswana Innovation Hub has officially opened its First Step Ventures Centre, focusing on tech start-ups. Read More
FEATURED STORYGaming app introduces investors to trading
A new virtual stock market app is equipping would-be investors with the skills they need to trade.
BEST READ NEWS
IN DEPTHCorporate cyber security threats of the year
91% of organisations polled suffered a cyber-attack at least once in the past year, says Kaspersky Lab in its security review of 2013.