Rwanda plans to invest up to $50,000 for the Hanga start-up of 2021, which is expected to take place next month at the Kigali Arena.

The start-up festival, in its first edition, will provide a unique platform to showcase the tech-entrepreneurs and creative talents from all over the country as well as promote the use of technology and innovation in the wider Rwandan market.

The development is currently organized by the Ministry of ICT and Innovation in partnership with the Rwanda Development Board.

Selected innovators will get an opportunity to pitch their innovation, according to organizers.

The event will bring together Angel and Venture Capital Investors, Technology Company founders and Private Sector Business leaders.

Also expected are members from the creative industry and academics.

"Rwandan innovators and tech-enabled start-ups have up to next week, November 10, to apply for a chance to secure funding and additional support to grow their innovative business,” according to a statement.

Eligibility criteria

All startups should be based in Rwanda and registered with the RDB, organizers say.

The startup should not have raised any venture capital (except angel investors, family, friends). Also eligible are startups that may have received grant funding from other incubator programs or Hackathons.

Only startups not older than five years after registration will be eligible to qualify while all innovations must present a tech-enabled solution or have the potential to scale through technology and must have a developed or working prototype to apply.