The first ever Initial Coin Offering (ICO) summit in Kenya is set to happen this March 2018. The summit organized by Bitsoko, Coinweez, and MamaVentures will provide an opportunity for startups to crowdfund through a digital currency.
During the event, Investors will be able to participate and listen to pitches from various startups and then make their investment decision by buying tokens of their chosen company.
With the emergence of cryptocurrencies and the growth of adoption of blockchain technology around the world, various alternatives for their uses have been developed. With ICOs, a company is able to raise funds from the public directly rather relying on the complicated and restrictive funding model such as banks or venture capital.
“The opportunity is beneficial for businesses because they are able to easily raise money. It is also beneficial to the public because ordinary investors are able to take part in funding businesses of their choice.” Coinweez stated on their website.
The summit is being led by Bitsoko, a company that has been on the forefront in developing products and services using the blockchain technology, Coinweez, a blog that analyses blockchain and cryptocurrency trends around the world and MamaVentures, a growth accelerator that works with business to actualize ideas towards profitability and sustainability
This comes after Nigerian startups Fyodor Biotechnologies, MailHaven, and Mobile Forms participated in the 22X Fund ICO where participating investors add the opportunity gain equity of up to 10 percent in 30 other Silicon Valley’s most high potential early-stage companies.
The event will take place at The Nairobi Garage, PineTree Plaza on the 17th March 2018 and startups interested in funding can apply can fill this form while interested attendees can apply get their tickets here.
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