On October 24th, 2012 Hillary Clinton announced the 3rd Apps4Africa competition at DEMO Africa in Nairobi, Kenya. Her pre-recorded video address to the audience was one of the many highlights of the DEMO Africa which brought investors and 40 of Africa’s finest startups together for rapid-fire 6-minute pitch sessions.
The announcement also marks a big change in the Apps4Africa model. This year the competition is targeting startups and businesses through competitive funding, offering a non-diluting path to venture capital, mentorship and other forms of support. Our goal is to catalyze the growth of Africa’s early-stage startups to address the issue of youth unemployment across the continent. Africa needs to create at least 120 million jobs by 2012 to maintain it’s current trends of a growing middle class. Those jobs are not going to come from government mandates or multi-national corporations, they are going to come from successful startups and entrepreneurs. With Apps4Africa 2012, Appfrica and our partners at the State Department, Lions@frica, and the World Bank are demonstrating our commitment to addressing this problem now and in the future!
We’re greatly appreciative for the remarks of Mrs. Hillary Clinton and the continued support of our friends at the State Department!