249Startups

249Startups is a mission-driven innovation hub established in April 2018, dedicated to fostering and supporting bright and passionate entrepreneurs in Sudan. The organization aims to develop a vibrant entrepreneurial ecosystem by providing startups with an enabling environment, a network, and a variety of support programs and activities. Their mission is to 'growth hack' the entrepreneurial ecosystem in Sudan, finding innovative solutions and providing exposure to scalable Sudanese startups through creating opportunities. In March 2022, 249Startups launched Rhino Investments, Sudan's first startup-focused impact investment fund, allocating $500,000 to invest in up to 14 seed-stage startups and SMEs. The fund focuses on sectors including software and technology. Additionally, they introduced the Impact Acceleration Programme, a three-month initiative offering business knowledge, customized services, and capital in exchange for equity. This program targets pre-seed to seed-stage companies, aiming to be an active investor with typical check sizes of up to $15,000, along with larger follow-up investments for selected companies. Through these initiatives, 249Startups seeks to strengthen and reshape the private sector in Sudan by building sustainable startups and cultivating a culture of socially responsible investments, while encouraging youth empowerment and job creation. Their efforts are part of a broader strategy to transform the entrepreneurial ecosystem in Sudan, providing resources and support to entrepreneurs across various sectors, including technology, healthcare, agriculture, education, and more.

Active engagement in the Impact Acceleration Programme, Minor equity stake in exchange for funding, Focus on sectors such as software and technology, Commitment to creating job opportunities and contributing to the local economy