@iLabAfrica Research Centre, Strathmore University has partnered with Pangea an international startup support platform to pilot a US$ 50,000 accelerator program in Kenya.
The two organizations shortlisted 40 startups from a list of 400 applicants. The group of 40 startups are currently on a 3 month program being coached and trained by international and local investors and experts.
Through this partnership the startups are being assisted to get access to capital and networks that will enable them grow and scale up in their area of operations.
The 40 startups fall under different categories e.g. Fintech, fashion, agriculture etc. Each startup companies gets an opportunity to meet industry experts in their fields who share their experiences and expertise. The startups also connect with mentors who offer guidance on how to make it in the industry and help open doors for the young entrepreneurs.
“It is an amazing program for startups especially because they get to benefit from the training, coaching and mentoring sessions offered. It will help create an enabling environment, where entrepreneurs can develop competence, access relevant network, and capital in order to reach their full potential. We are really happy to be partners on this program and we look forward to working on more projects with Pangea to help startups in Kenya” Bernard Chira, @iBizAfrica Manager said.
Ahmed from Pangea also mentioned “We are really glad to have got a competent and resourceful partner such as @iBizAfrica. The learning environment is amazing and the incubation space which is available for startups under the program is really helpful. The coaches and mentors that have been offered by @iBizAfrica to help in the program have also played a major role in running it. We are glad that we got to work with @iBizAfrica and we look forward to future partnerships.”
Startups that have joined the Pangea accelerator program have the opportunity to benefit even more from the funding as Pangea is looking to launch its crowd investment platform in June 2018.
UAP-Old Mutual Group and Valuraha, a local company that operates at @iBizAfrica Incubation centre, based in Stathmore University. Valuraha promotes financial literacy, are set to kick off a student investment competition on Thursday. The two will organise a high school students’ investment competition that will take place at the Alliance Boys High School, Kiambu County.
The competition aims at creating investment awareness at an early age, which is an area of focus for UAP-Old Mutual.“We expect to start nurturing investments professionals at an early age in line with Old Mutual’s goal of imparting financial education, thus the need for the group to support the competition,” said UAP-Old Mutual unit trusts (Kenya) managing director Peter Ng’eno.
The competition is expected to attract close to 500 students with the top 15 students getting a combined Sh150,000.Investment professionals from UAP-Old Mutual Group and Strathmore University will be judges at the contest.
Valuraha, which has been promoting financial literacy in 10 schools, said it recently signed up another 23 schools to join the Valuraha club.UAP-Old Mutual Group was formed after Old Mutual and UAP merged their businesses in 2015. Old Mutual increased its shareholding in UAP to 60.66 per cent after buying stakes from private equity firms and Centum Investments.