Sudan-based innovation hub 249Startups has launched an equity fund “Rhino Investments” to boost the Sudanese entrepreneurial ecosystem. It has allocated $500,000 in capital to fund up to 14 Sudanese Seed-stage startups/SMEs. It would also launch an acceleration programme in the first quarter of 2022, helping startups scale and grow through workshops, monitoring and networking opportunities.
249Startups, a mission-driven innovation hub, was founded in 2018 by Mutaz Mohamednour, Khansa Elhag and Ahmed Elmurtada with an aim to revitalise entrepreneurship in Sudan’s economy.
Rhino Investments is 249 Startups’ newest funding vehicle that aims to create an inclusive startup ecosystem for entrepreneurs while creating networks between impact-driven and scalable startups, SMEs, and investors through the latest, most efficient, de-risking investment processes Sudan has to offer.
Applications to apply to the programme and the investments will open during the beginning of March 2022 for Sudanese entrepreneurs running businesses that aim to scale and create employment for youth.
