African Startup League: Competition for funding over 10,000 startups every year

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  • Africa Startup League(ASL) is the first Project of Humanity Nodes Protocol and is the world’s first decentralized community-powered company builder for humanity focused startups
  •  The rules of the African Startup League will be published in The Exchange on or before June 20, 2022.
  • The competition will run from August until December, with the winners being chosen and announced no later than December 15th of each year. 

Startup Funding in Africa

Startup funding in Africa is gathering momentum, owing to the ready market and the necessity to solve problems using technology in the continent.

While the amount of funding is growing at the fastest rate ever, the continent is still lacking the other critical components to creating a true startup ecosystem of the likes that exist in the USA’s Silicon Valley, Israel’s Startup Nation or even China.

Startups are important to create a growing economy and unicorns are the measuring stick of a startup ecosystem. According to the Hurun Global Index, the USA had 487 unicorns, up 254; China was second with 301 unicorns, up 74. Between them, the USA and China have 74% of the world’s unicorns. India has 54 and is in third while the African continent has only 4.

The African Startup League (ASL) is funding startups in a way that will change the dynamics of startups, blockchain technology, and humanity in Africa while creating the environment that will grow hundreds of thousands of businesses, ten thousand funded startups and hundreds of unicorns.

 ASL is a collaboration between The Exchange Africa news platform and the Humanity Node Protocol (a platform that pays its members in cryptocurrencies for doing simple community tasks while reducing the poverty rate in Sub-Saharan Africa).

How does the African Startup League work?

 Every August, 10,000 teams will be allowed to register for that year’s African Startup League competition. The top 100 projects will win cash prizes (investments) of a minimum of US$10,000, with top startup projects walking away with a minimum of US$1,000,000 investment.

The rules of the African Startup League will be published in The Exchange on or before June 20th, 2022. The competition will run from August until December, with the winners being chosen and announced no later than December 15th of each year.

The league is a unique startup studio platform that connects entrepreneurs with strategists, creatives, engineers, community, and capital to design, build and launch exponential organizations focused on improving the lives of humans.

Read: EdTech startups transforming Africa’s education landscape

What purpose does the Africa Startup League serve?

ASL aims to gather and distribute resources to build and accelerate the next 10,000 African based great blockchain-powered humanity-focused companies.

 Build Wealth while Improving the Condition of all Humanity  

ASL will offer solutions to the 8 UN Sustainable Development Goals (SDGs) on which Humanity Node Protocol is based, creating multi-trillion-dollar opportunities.

For example, Elon Musk has created wealth from SDG number 7 – Affordable and Clean Energy. Musk has taken a passion for clean energy and turned Tesla into a $700+ billion-dollar company, becoming the world’s richest man at $278 Billion.

The Start-up Studio and Humanity NFTs  

Within the Africa Startup League, Humanity Node Protocol’s Humanity NFTs function as the nodes for a decentralized startup studio that focuses on building companies providing solutions for the first 8 UN Sustainability Goals.

African Startup League will fund over 10,000 African startups every year. [Photo/ EY]

The Next Generation “Startup Studio”

A startup studio is a structure whose aim is to build companies repeatedly. Thanks to its infrastructure and resources, startup studios increase a startup’s chance of success and optimize its creation and growth.

Africa Startup League is decentralized because each of the 300,000 Humanity NFTs serves as resources for the Startup Studio independently and without centralized control. Yet while independent, they will coordinate, organize, de-organize, and reorganize based on what is in the project’s best interest.

There is no centralized gatekeeper to block any project. Instead, there are 300,000 doors to enter. Africa Startup League and Humanity NFTs connect community members, experts, investors, and startups to rapidly and solidly build companies that matter and should exist because they improve the world for all humans.

Africa Startup League(ASL) is the first Project of Humanity Nodes Protocol and is the world’s first decentralized community-powered company builder for startups that want to improve humanity.

ASL solves many problems for entrepreneurs and investors and will open new opportunities for mutually beneficial cooperation between all community members. This decentralized platform is built on Binance Smart Chain using smart contracts and guarantees adequate compensation for all system participants. One primary goal of ASL is to create an expert network that will help the Humanity NFTs release humanity focused commercially successful projects.

Though quality investments are by no means proprietary, Africa Startup League pipelines provide unparalleled risk mitigation. “Through multiple touchpoints from idea inception onward, we don’t just know our portfolio companies, we track them through their genesis,” Humanity Node Protocol founder, Marcus Dukes, says.

Investment opportunities are available to all Humanity NFTs at every stage of the development process, from Minimum Viable Product (MVP) to seed rounds and beyond. Humanity NFTs will receive equity and tokens for companies they co-build.

We will keep updating news about the ASL here at The Exchange Africa. In case of any questions about the African Startup League, you can email us at j.kangethe@theexchangeafrica.news

Read: Six African startups named in World Economic Forum’s top 100 global tech pioneers

I am a journalist who is an enthusiastic tech, business and investment news writer from across Africa. There is always something good happening in Africa but most gets lost in the stereotypes. I tell the stories that matter to the Africans for Africa. Have a tip? You can contact me at j.kangethe@theexchange.africa

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