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
Further African expansion for PhoenixPhoenix Distribution, a leading broad-based distributor on the African continent, has expanded its office in Nairobi, Kenya, in a move to better serve its partners in East Africa. Read More
Garmin seeks business partners in West AfricaGarmin is hosting a trade delegation in Accra, Ghana from the 12th to 16th May 2014. Read More
Orange Telkom not closing Kenya business: GhosseinSpeculation that Orange Telkom Kenya would be closing its Kenyan operations has been put to rest. Read More
Dimension Data enters Ghana’s IT marketDimension Data, a South Africa-based ICT solutions and services provider, has announced its entry into the Ghanaian ICT market. Read More
Glo rewards business partnersGlobacom has showered 53 high-end vehicles and other prizes on its trade partners responsible for distributing Globacom’s products and services across Nigeria. Read More
Worldwide PC shipments declineWorldwide PC shipments totalled 76.6 million units in the first quarter of 2014, a 1.7 per cent decline from the first quarter of 2013, according to preliminary results by Gartner Read More
Axis Solutions becomes first VMware Premier Partner in the WECA RegionAxis Solutions, a Pan-African ICT solutions provider headquartered in Harare Zimbabwe, is the first VMware partner to become a Premier Partner within the WECA region. Read More
Nigeria to spur Oracle's African driveOracle Corporation has assured that Nigeria will be the centerpiece of its developmental drive in Africa. Read More
Pivot East nurtures promising startupsPivot East, an innovative mobile web competition geared towards nurturing the growing ICT talent in East Africa, is providing an ideal platform to grow mobile web startups. Read More
Phoenix Distribution unveils new, interactive websitePhoenix Distribution, currently the leading value added software and CES distributor across the African continent, has redesigned its website, making it easier to use for clients and partners alike. Read More
FEATURED STORYKenyan shift to Green Economy would generate USD 45bn by 2030
Kenya’s transition to a green economy could produce major economic benefits equivalent to an estimated USD 45 billion by 2030, a new study shows.
BEST READ NEWS
IN DEPTHE-waste threatens Ghana’s beaches
Many beaches in Ghana, already stressed by pollution and poor maintenance, are now facing a new threat: e-waste.