Daikin-Samurai Incubate Africa Ideathon 2020 for African Entrepreneurs (Fully-funded)

African startups are invited to apply for the Daikin-Samurai Incubate Africa Ideathon, for a chance to pitch innovative solutions to Daikin, a USD 200 Bn turnover Japan-based company and world’s leading Air Conditioning company. The winning startup pitch will also stand a chance to receive an investment from Samurai Incubate, a Japanese early-stage venture capital firm.

Application Deadline: 20th November 2019

Eligible Countries: African countries

To be Taken at (Country): Nairobi, Kenya

About the Award: Daikin -Samurai Incubate Africa Ideathon’ is an initiative by the leading multinational AirConditioning brand DAIKIN and African early stage VC – Samurai Incubate. The Ideathon aims to find the 10 most innovative startups across Africa who are keen to partner and expand their business with Japanese partners. The startup holds a chance to get in a partnership with Daikin and an exciting chance to get funded by Samurai Incubate Africa.

In Africa, Daikin is interested in trying a completely new and innovative method to sell their products (such as pay-as-you-go/subscription payment model, securitization of the items and etc.) to allow ACs to be beneficial and installable for as many households/commercial properties/buildings as possible.
In fact, the quality of Daikin’s products is absolutely appraised worldwide without a question, but in addition, the company has strong know-hows for capacity building of local engineers for installment/repair/maintenance of ACs, and therefore strongly wishes to contribute to job creation and empowerment of African people as well.

Samurai Incubate Africa Inc., a Japanese venture capital firm focusing on investment into African startups, will co-organize ideathon with Daikin to find a great company to be invested in.

Are you operating in Africa, looking to find a Japanese partner to scale your business? This is an exclusive opportunity to introduce your company to a Japanese investor and the world’s largest AC company from Japan.

Type: Entrepreneurship

Eligibility:

• Your company is for-profit and registered as an independent legal entity;
• You have a product or service available on the market and generate revenue in the following business domains;
  • Fintech (Daikin has a special interest in collaborating with startups having mobile money/banking/payment/lending solutions)
  • E-Commerce
  • Property Tech / Real Estate Tech
  • Clean Energy
  • Air Tech
• Your product or service is designed for scale;
• You have a very strong management team of at least 2 people;
• Your company is based in or planning to expand into one or more countries on the African continent where there is a demand for air conditioners;
• You are seeking an opportunity to be a potential African partner for scaling your business as well as Daikin’s business penetration in Africa by collaboration and partnership;

Number of Awards: Not specified

Value of Award:

• All-expenses-paid trip (air ticket, accommodation and visa for up to two members of your team) to Nairobi on Dec 9-12, 2019
• Winner at the pitch event will have right to receive investment of $100,000-150,000 from Samurai Incubate Africa Inc.
• A few participants proposing great ideas of Daikin’s potential sales expansion during the ideathon will be invited to a committee in early 2020 in order to discuss partnership between the parties further in detail. Once the partnership is agreed and approved, you can commence Proof-of-Concept (POC) of such idea with budget fully covered by Daikin.

If you are selected as a participant startup, you are expected to:

• Prepare to explain why you could be a great African partner for Daikin and how your product / service can support Daikin’s business expansion
• Be prepared to travel to Nairobi in the period of December 9-12, 2019 to attend the event.
• If you are required a visa to travel to Kenya, take necessary procedures and acquire a visa before flying to Kenya. The visa fee will be reimbursed from us.

Duration of Award: Dec 9-12, 2019

How to Apply: Apply Here

• It is important to go through all application requirements in the Award Webpage (see Link below) before applying.
• GOODLUCK

Visit Award Webpage for Details