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More than 50 DEMO companies have
been acquired by tech giants in the past five years
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DEMO Africa will provide growth
capital identification platform
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Conference comes to Africa for the first
time in 21 years; Kenya to host
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DEMO experience has helped introduce
new products and services to the world
The 40 start-up companies that will
launch at the inaugural DEMO Africa conference, a launch pad for emerging
technology innovations, are seeking to raise over $60m to take their businesses
to the next level of innovation and development.
DEMO Africa, which will be held in
Africa for the first time after it started 21 years ago in the US, will bring
together the most innovative companies from across Africa, as well as leading
investors and corporations to see the start-ups launch their latest products.
Paying tribute to the diversity that richly characterizes the continent, the 40
start-ups extend across five core categories, including consumer technology,
mobile technology, enterprise technology, cloud services and social media.
DEMO Africa Director, Harry Hare
confirmed that the 2.5 day conference to
be held on October 24th – 26th will provide a platform
for start-ups from across Africa to pitch for growth capital and strategic
partnerships, with the aim of developing the companies' capacity to compete
with tech startups across the globe.
“Cumulatively, the nominees are
looking to raise over $66,280,000. This event firmly demonstrates that Africa
is the next frontier on all economic facets. We are seeing a renewed energy
even in the invention of technological infrastructure, initiatives that we are
keen to nurture.” Harry said.
According to 2009 DEMO demonstrator
research study conducted by BluePoint Ventures, in the past 20 years, 22% of
past demonstrators received funding within 60 days as a direct result of a DEMO
launch. 92% who secured funding, did so within 9 months of DEMO, whereas 62%
received over $1 million in funding - mostly from venture capital funds and
angel investors.
“We have seen unprecedented
acquisition with the global chapter where more than
50 demonstrating companies were acquired in the last four years alone. Cisco,
Google, Microsoft, Motorola, Symantec, HP, SAP and Yahoo! have all been to DEMO
more than once, acquiring multiple DEMO companies. ” Harry noted.
He added that in just the past five
years, DEMO companies have raised over $4.5 billion dollars in the months/years
following their debut at DEMO.
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