The Meltwater Entrepreneurial School of Technology (MEST)and Samsung Electronicshave partnered in an initiative that will provide more opportunities, resources and tools to West African entrepreneurs, resulting in several areas of positive impact for the tech ecosystem.
MEST trains, investsand incubatesaspiring African software entrepreneurs, putting them on the path to become globally successful technology entrepreneurs; Samsung’s role will have deep impact ateach phaseof the MEST program.
Training
MEST recruits top talent from Ghanaian and Nigerian university graduates. Once enrolled, Entrepreneurs-in-Training (EITs) receive a full scholarship to an intensive program that blends hands-on training in software development with business and communications education. During this period, EITs are also tasked with forming new business ideas based on the tech skills they’ve built, with the guidance of teaching fellows and staff.
Samsung will be involved from the early stages, starting with company ideation and pitching processes during the MEST training portion and will support MEST by providing in-kind as well as subsidized devices and tablets that can be used to test out and further develop their solutions. EITs will also have the opportunity to apply for internship positions at Samsung during MEST internship breaks in Lagos, Nigeria campus.
Investment
Upon graduating from the MEST training program, EITs stand to receive an initial round of seed fundingfrom MEST (ranging from $50-$250,000) to pursue their business. Investment hinges on EITs’ “final exam” (a business pitch to the board) and is based on specific KPIs as well as the commercial viability of the business idea.
Samsung Enterprise Business Partners in Nigeria will have the opportunity to invest as well as have a minority stake in a new or existing company coming out of MEST.
Incubation
Teams that receive investmentare given subsidized office space, 24/7 electricity and internet, and access to MEST’s global network of advisors comprised of renowned venture capitalists and entrepreneurs from around the globe, all of whom support the distribution, marketing and sales of these newly incubated companies.
Adding to this support, the MEST-Samsung partnership will help open doors for MEST incubator companies – both consumer and B2B focused – to partner on distribution of mobile applications and cross-marketing services.
Samsung will work with MEST-incubated companies and facilitate introductions of market-fit and market-ready MEST startups to Samsung Enterprise Business Partners and Samsung Information and Mobility Business teams to further explore specific commercial and technical partnerships to pilot and scale these products/services through strategic projects addressing market needs in verticals such as Education, Financial Services, Healthcare, Retail, Transportation and Hospitality.
Due to MEST’s role in the developer, technology startup space in West Africa, MEST will help provide Samsung general access and visibility with developers and entrepreneurs in West Africa.
The two organizations plan to roll-out a series of co-sponsored events in Ghana and Nigeria, where new ideas and technology will have the opportunity to prosper.
The first of such events will take place during the next two weeks: MEST and Samsung are formally kicking of their partnership at Mobile West Africain Lagos, Nigeria.
Additionally, MEST is hosting an informational recruitment session and meet-up for Nigerian candidates who wish to be considered for MEST’s next batch of EITs. Interested individuals can apply directly on the MEST website http://meltwater.org/school/admissions/