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249Startups launches Rhino investments to support startups in Sudan

Aya Hussein

The Sudanese Center for Entrepreneurship and Innovation

announced Startups officially announced the launch of the Rhino investment fund with a capital of

thousand US dollars to support startups; Contributing to building an integrated investment system that is concerned with developing entrepreneurship and assisting entrepreneurs in Sudan by establishing partnerships between projects, emerging companies and investment entities through investment programs that reduce risks and are commensurate with the Sudanese market. According to the text of the announcement, the vision of the Rhino Fund lies in the continuity of strengthening and reshaping the private sector in Sudan by building sustainable start-ups and small and medium enterprises, encouraging a culture of investment in the community, empowering youth and creating job opportunities. The platform said that it will continue its journey to transform the entrepreneurship sector in Sudan through its investment program “Impact Acceleration”. The first cycle of the program is scheduled to be launched in the first quarter of this year

with the aim of bridging the financing gap in the initial (Seed) and (Pre-Seed) investment rounds, as well as Supporting seven projects that have passed the stage of production of a first product (MVP) with a financial value of up to

one thousand US dollars in exchange for secondary ownership acquisition, providing financial support, attracting talent and creating links With the private sector and many other services that startup companies need.