Rwanda’s tech startups secure RWF110 million funding at Hanga Pitchfest’24

Showcasing the vibrant energy of Rwanda’s thriving innovation ecosystem on full display, ambitious innovators and startups took center stage at the fourth edition of Hanga Pitchfest, the country’s premier in-person technology event co-organized by Rwanda’s Ministry of ICT and Innovation, the Rwanda Development Board, and the United Nations Development Programme (UNDP).

Happening together with the annual YouthConnekt Africa Summit 2024, over 10,000 attendees, including investors, industry leaders, entrepreneurs, and young people from across the continent gathered to witness the entrepreneurs pitch their transformative solutions to secure a share of 110 million Rwandan francs in grants to scale their cutting-edge solutions.

As the finalists took the stage, the audience held their breath in anticipation. First up was Sinc Today, a startup improving the sustainability and inclusivity of events for planners and participants. Their innovative solution captivated the judges, and Sinc Today emerged as the grand prize winner, securing 50 million Rwandan francs.

The competition continued to heat up as GEUZA Ltd, a venture converting wastes into cost-effective mobility solutions for people with disabilities, took second place with 20 million Rwf. AfyaWave Ltd, an AI-powered digital health assistant bringing maternal healthcare services to remote communities, secured third place and 15 million Rwf.

Clenville Limited, a startup addressing inefficiencies in Africa’s waste management by optimizing collection plastics and rewarding users, claimed fourth place and 12.5 million Rwf. Rounding out the top five was LifeLine, Africa’s first platform for affordable and accessible life-saving medications with third-party insurance and outpatient drug tracking, which also secured 12.5 million Rwf.

In its initial stages, the highly intensive and anticipated startup competition welcomed 45 startups, rigorously selected from a pool of hundreds of applicants, to go through a pre-selection pitching stage with 25 startups making the final cut to participate in a rigorous two-week boot camp. During this intensive program, the founders refined their business strategies, honed their pitching skills, and received valuable mentorship from industry experts like Philip Gasaatura, Amon Munyaneza, and Arnold Kwizera alongside partners from GIZ, Jasiri, and the UNFPA.

The stage was now set for the Grand Finale on November 10th, 2024, where the top 5 startups would present their groundbreaking ventures to a panel of distinguished judges.

At the Grand Finale on November 10th, 2024, the stage was now set for the top 5 startups to present their groundbreaking ideas to a panel of distinguished judges. 

“I’m beyond grateful for the incredible opportunity to share our fantastic work with such inspiring coaches at Hanga Pitchfest. The insights and feedback we’ve received have been invaluable. It’s an honor to be part of such an event alongside many talented entrepreneurs,” said King Chukwumere, Founder and CEO of LifeLine.

“What founders receive at the Grand Finale is just a drop in the ocean of what they need to scale their businesses,” explained Hon. Paula Ingabire, Minister of ICT and Innovation. “Through our one-year program of business development and acceleration, we connect them with funders who provide essential capital, enabling them to reach the next stage, secure their first clients, and ultimately scale.”

The competition’s alumni have continued to make their mark on the ecosystem. Winners from previous editions, such as Loopa, Umurava, and Hova AI, have gone on to secure additional funding, forge partnerships, and expand their reach, demonstrating the lasting impact of the Hanga Pitchfest platform.

The Hanga Pitchfest journey continues to inspire the next generation of transformative startups, demonstrating the country’s commitment to enabling a vibrant and inclusive innovation ecosystem.

As the 2024 winners embark on their growth journeys, Africa’s tech ecosystem awaits the emergence of groundbreaking solutions that will transform lives and reshape the future of the continent and beyond.