Safaricom Foundation Technology for Good Accelerator is calling for innovative startups for a 3-month incubation period and upto Sh0.5m in grants.
East Africa’s largest telco whose revenues hit $2.4 billion last year has thrown its weight behind the regions’ startups in what could help propel them to new heights given that most of the startup investors are foreign.
“The Foundation intends to fund qualifying organizations/institutions, individuals and businesses that demonstrate innovations that are in line with the Foundation’s strategic areas of focus,” the company said.
During the incubation, the teams will be trained and equipped with the tools and skills for business modeling. They will develop a business model to be tested during the incubation period.
The company behind M-Pesa which is seen by many around the world as the most successful digital finance app so far perhaps understands the importance of financial muscles and training in developing new ideas to success.
The period will involve mentorship and training from Strathmore University and Safaricom Foundation. The accelerator joins several others in the country that are supporting young innovators in the country.
Applications are made here before June 2, 2017