Today, Web entrepreneurs of iROKOtv and Nollywood fame, Jason Njoku and Bastian Gotter, have initiated $1 million in investment for Nigerian tech startups with the official launch of SPARK. Based in Lagos, Nigeria, the company will support and develop aspiring tech and Internet entrepreneurs and is set to fill the vacuum that currently exists in Africa’s angel investment eco-system.
SPARK-funded companies, managed by Njoku, Gotter and Mary Remmy-Njoku, will share the same administrative infrastructure, legal teams, mentors and marketing support. The company will focus on well-defined and scalable revenue models and has, to-date, seed funded or created 13 startups, including a travel lodging site, a Christian dating site and a property rental site. Companies in the SPARK network currently employ 80 people and SPARK also plans to expand to create or fund 7 more companies by the end of this year.
In an exclusive interview with BlackEnterprise.com, Njoku talked further about what SPARK means for Africa, who will benefit and why he and his partners—including his wife, Mary—are committed to expanding the reach of technological advances and opportunities on the continent.
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