Strathmore Univeristy

Free Consultancy On Company Valuation for Startups

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Business valuation is a process and a set of procedures used to estimate the economic value of an owner’s interest in a business. Valuation is used by financial market participants to determine the price they are willing to pay or receive to effect a sale of a business. In addition to estimating the selling price of a business, the same valuation tools are often used by business appraisers to resolve disputes related to estate and gift taxation.

Before the value of a business can be measured, the valuation assignment must specify the reason for and circumstances surrounding the business valuation. These are formally known as the business value standard and premise of value. The standard of value is the hypothetical conditions under which the business will be valued. The premise of value relates to the assumptions, such as assuming that the business will continue forever in its going concern, or that the value of the business lies in the proceeds from the sale of all of its assets minus the related debt.

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Challenges in valuing a startup (social science research network, 2009)

  1. No history – Young companies have very limited histories. Many of them have only one or two years of data available on operations and financing and some have financials for only a portion of a year.
  1. Small or no revenues, operating losses – Revenues are small or non-existent for idea companies and the expenses often are associated with getting the business established, rather than generating revenues. In combination, they result in significant operating losses.
  1. Dependence on private equity – Most startups are dependent upon equity from private sources, rather than public markets. At the earlier stages, the equity is provided almost entirely by the founder. As the promise of future success increases, and with it the need for more capital, venture capitalists become a source of equity capital, in return for a share of the ownership in the firm.

@iBizAfrica and Strathmore University School of Finance and Applied Economics will provide free company valuation for startups over the next three months.

Have you run a startup for at least one year? Are you generating any revenue? Are you curious to know how much your company is worth?

Sign up now at https://goo.gl/ANZBHV to receive free consultancy on company valuation for your startup.

Deadline 15th July 2016.

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Customer Discovery and Validation Workshop

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According to research, building something that nobody wants is the # 1 startup mistake. See.

For this reason, @iBizAfrica trains startups on customer discovery and validation techniques to enable them develop viable problem-solution fit and product-market-fit.

on Saturday 23rd April, senior mentor and Pitch Friday panelist at @iBizAfrica will train 15 teams shortlisted in the IDEA Foundation Seed Stage Accelerator program (April-June cohort) on customer development using the Javelin Experiment Board and Lean Canvas.

The teams will “get out of the room” to conduct customer interviews where they are expected discover potential paying customers. Using the information gathered the teams will in the following week start the journey of customer creation and finally pitch for funding at @iBizAfrica’s signature pitch event, Pitch Friday.

About Robert Yawe

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Robert is a senior mentor and independent Pitch Friday panelist at @iBizAfrica.

He is a designer of local and wide area networks with a vast knowledge and experience in open and proprietary connectivity solutions.

He is also a financial literacy coach which he does to get others to appreciate that without securing their finances all the rest shall be come to nought.

Robert’s specialties include: structured cabling design and installation, local area networks LAN, wide area networks WAN, groupware solutions design implementation and support, cashflow 101 facilitation, corporate mentoring, real estate development, financial literacy coaching, board director, investment group training, real estate project origination, stock broker agent, personal financial training, women financial empowerment, financial literacy writer, ict writer, exhibition adjudicator

Disclaimer

This workshop is only open to shortlisted applicants. To participate in our next workshop, look out for the call for application through our social media and blog.

Follow us:

Blog:https://ilabafricastrathmore.wordpress.com/category/ibizafrica/

Twitter: https://twitter.com/ibizafrica

Facebook: https://facebook.com/ibizafrica

@iLabAfrica- Strathmore University Emerges Top in the Google Online Marketing Competition (GOMC)

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GOMC

The internet giant Google, offers a course known as Google AdWords certification that trains on the proficiency in the use of AdWords to candidates. As a professional accreditation, it is a marker that elucidates that the individual or group is recognized by Google and its partners. This lucrative accolade can propel a budding entrepreneur towards the goals set. The Google Partner Badge enables the candidate’s agency to operate in the country and transcend international boundaries to tap into the growing digital world market.

Last year, a team of students from Strathmore University consisting of Kennedy Maingi, Charlene Maina, Christine Kamathi Daniel Kimotho, James Otieno, and Michelle Muriungi represented @iLabAfrica, Strathmore University which runs the Digital advertising course in the Google AdWords competition. This team was focused and had strong will power; the competition was stiff as it had amongst its contestants top technology savvy colleges in Kenya but they managed to take home the number one position in Kenya. The team then progressed to secure the 9th position overall in the Middle East and Africa. Their actions have placed @iLabAfrica, Strathmore University on the map as far as Google is concerned. The team’s ability to overcome was also felt at the EMEA where it was an underdog in the completion; the team managed to secure the 14th position overall, a relative victory considering the epic size of the event.

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The GOMC team holding the certificates that they were awarded.

 

The Team 

The team enjoyed working together to solve problems and also to come up with new ideas. This strong camaraderie highly attributed to the success they had in the completion as other teams sometimes failed to act in one accord. The team was properly organized, and the delegation function was well handled enabling the team members to each carry out their roles independently but keeping team play in mind. The delegation process was based on the strengths of individuals that was key because it enabled the strengths of one person to supplement the weaknesses of the other team player.

The biggest challenge they had was the lack of funds necessary to ensure the team was at par with the competition especially in the Middle East completion. The competition instilled a deluge of skills to the individual such as communication skills, teamwork, and how to work under pressure. All in all the campaign was fruitful the team members had fun and good experience.

What next for the Team Members??

Charlene Maina:

GOMC has enriched my career goals and highlighted the career path that should be undertaken to achieve said goals.

Daniel Kimotho;

I feel that through the startups launched, digital marketing, which now has become familiar will open a broad client based globally.

Kennedy Maingi;

Pressure felt in the project has molded my capabilities and increased my drive to go on even when the road is tough. This creates a good balance in my marketing background, and I am contemplating walking down the entrepreneurial path and creating an agency based in Kenya targeting the growing economies found here in Africa such as EAC and COMESA.

James Otieno

The success in the completion is one of my highest achievements. I am ecstatic about the victory and am hopeful in growing my Curriculum Vitae in this line of career and also doing startups that will eventually create employment for Kenyans.

Michelle Muriungi;

The challenge has provided a niche for me in my degree (Bachelor of Business Information Technology). I enjoy digital marketing a lot, thinking of possibly becoming a freelancer agent.

Christine Kamathi;

It has opened up my mind. I knew about it earlier through AISEC. Did the digital advertising course. I thank God for where we have come. It’s a very broad area and it’s good to specialize in something.

The trainers

The students were taught by Ms. Elizabeth Wamicha and Ms. Tabitha Mberi who are certified trainers in Google Digital Advertising.

Strathmore – Waterloo challenge Awards

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Mobile Technology Challenge and Virtual Incubation Program

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The University of Waterloo, Canada, and Strathmore University, Kenya, are collaborating to support technology incubation programs in Kenya focused on the use of mobile and social media technologies to find solutions to socio-economic problems affecting large numbers of the population.

Mobile technologies are transforming sub-Saharan Africa. They are providing individuals in the region with previously unimaginable access to information and, as a result, significantly impacting the economies of the region. This has opened opportunities to develop and improve social and economic systems in ways that can truly impact the ‘bottom-of-the-pyramid’ in Africa.

The two Universities have conducted an agricultural mobile application challenge that is meant to address challenges that farmers encounter in the agricultural sector. Agriculture was chosen since this is the mainstay of at least 80% of the Kenyan population and therefore has a direct impact on the bottom of the pyramid masses.

The challenge kicked off in January of this year with a total of 45 teams applying. 28 were shortlisted in the first round. In the second round 10 were further shortlisted and then a final selection of six teams. These top six teams have undergone a vigorous incubation program that was conducted by the Strathmore University team and the University of Waterloo, Conrad Business School, Virtual Incubation Program team.

The business incubation was facilitated by use of a virtual technology platform. This is the first of its kind in Africa and it will further enhance opportunities for entrepreneurs with novel ideas to benefit from training and funding to launch sustainable enterprises. The Virtual Incubation Program aligns to the running policy of the Jubilee government on entrepreneurs’ empowerment.

There will be a ceremony to launch the virtual incubation program. During this ceremony the six finalist teams will be acknowledged. The teams represent various universities from the entire country, namely,

Masinde Muliro University, Egerton University, Nairobi University, Kenyatta University, Jomo Kenyatta University of Agriculture and Technology, United States International University Africa and Strathmore University.  The prizes for the first two teams will be:

  • The first prize is a fully paid one-week fellowship at the University of Waterloo, Ontario Canada
  • Second prize is a fully paid admittance to the 6-months Strathmore Enterprise Development Program run by the Strathmore Enterprise Development Centre (SEDC).

The ceremony is scheduled for Friday 22nd January 2016 and will take place @iBizAfrica, Strathmore University, 5th Floor Student Center.

UN-Habitat, Ericsson and Strathmore University Select Kiambu County for Pilot Project to Address Urban Challenges in Kenya

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URBANHACKDAY

Kiambu County has been selected to be part of a pilot project seeking to incorporate youth in developing and implementing technological solutions to solve urban challenges facing the country. Dubbed Urban Hackday, the event took place from Friday 25th- Saturday 26th September, and hosted youth from around Kenya together with experts in the field who gathered at Strathmore University’s, @iBizAfrica to develop technological solutions that can be used to improve urban areas.

The Urban Hackday is part of a larger project known as the Innovation Marketplace, a pilot program being undertaken by UN-Habitat in collaboration with Ericsson and Strathmore—@iLabAfrica Research Centre,  to develop, test and implement technology solutions together with youth and county governments in Kenya.

Participants formed teams around four major thematic areas: Local Economy, City Planning, Urban Basic Services and Local Governance with oversight from mentors sourced from local government, technology companies and urban practitioners.

The event attracted over 40 participants, five county representatives from Kiambu and five mentors. MatQ emerged the winners with their innovative web and mobile application to improve the governance and management of matatu (local bus) stops in Kenya. The application aims to make interaction between matatu SACCOs, local government and travellers easier.

Second placed were Smart Reporters. They designed a web based and mobile platform for work evaluation based on county residents’ feedback on service delivery. It is aimed at solving the problem of poor service delivery. Auto Tech were number three with a web and mobile application that aids in data collection with analytics and visualization. Examples of data being collected include water and electricity consumptions to aid the county in planning purposes. This is because the current mode of data collection is bulky, cumbersome, with human error and lacks visualization.

The best solution was decided through a judging panel composed of experts from UN-Habitat, Strathmore University, Ericsson and prolific entrepreneurs and will be incubated at @iLabAfrica for the rest of the year towards developing it to a prototype that can be tested at the county level to improve their processes. Speaking about the event, UN Under-Secretary-General and UN-Habitat Executive Director, Dr. Joan Clos, said: “Youth make up an increasing part of our urban fabric and must be seen as development partners if we are to build truly sustainable cities.

This project seeks to connect young voices, often marginalized and from informal settlements, with governance and meaningful participation, using ICT as a tool.” Robert Rudin, Country Managing Director, Ericsson Kenya said: “By 2050, about 70 percent of the world’s population is expected to reside in urban areas. This explosive growth combined with the rapid uptake of broadband creates new opportunities to address economic, environmental and social challenges.

Ensuring that African cities are connected and sustainable will improve the lives of millions of people. We are therefore excited to see the ideas of these young innovators that could potentially transform how we live, play and do business.” The Innovation Marketplace is aimed at working together three key dynamics in our world today: the growing number of young urban citizens, ICT proliferation and the devolution process. These three are set to change the functioning of cities and their sustainability, a core mandate and focus of UN-Habitat.

The devolution process in Kenya presents opportunities for advancing innovation and making use of ICT to foster good governance promoted by youth. In addition, it could yield a methodology on structured, result-oriented and scalable action that can be applied across counties. A methodology builds bridges between youth, county governments, the private sector and local tech communities for the purpose of creating a more sustainable, just, democratic and equitable devolved system of government and improved service delivery.

Dr. Joseph Sevilla, Director of Strathmore—@iLabAfrica Research Centre said “The Centre is pleased to collaborate with the UN-Habitat and Ericsson in the Innovation Marketplace project that seeks to build capacity at the county level in Kenya around the use of ICTs as a tool for good governance and youth engagement. We are happy to provide support to the winning team through our incubation program at @iBizAfrica, which provides a nurturing environment that builds on the potential of the youth to develop ICT solutions that work for the common good in society.”

Participation in the hackathon was open to all with various programming, coding, design and other technical skills and those with an interest in urban planning, marketing, social change through an application process, which closed on 11th September. Selection of participants was jointly done by UN-Habitat and Strathmore to ensure a good mix and balance of skill.

This article was first published in the UnHabitat Website but has been edited accordingly.

‘How to Smart-Start Your Business’ : The Event.

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The ‘How to Smart-Start Your Business’ event took place on Thursday 21st May 2015 at @iLabAfrica in Strathmore University. Organized by Sustainable and Inclusive Business Kenya together with Bernard Chiira, Incubation Manager at @iBizAfrica, the event was meant to teach start-up companies on the importance of coming up with Sustainable business models that not only focus on profit, but also on the environment and people i.e. People, Planet and Profit.

There were various attendees, most of them young visionary entrepreneurs in the IT and energy industry. There were various presentations from SIB Kenya, a knowledge center that strives to create awareness on the importance of companies and businesses to embrace sustainable and inclusive business practices. This was a great platform for SIB Kenya to give a more meaningful explanation of what it means for a business to be Sustainable, a great example being Strathmore University, for the direction it has taken in using solar power to generate electricity for the campus, thus saving a lot of money that would be used in other projects.

The main speaker was Philips Lead Researcher Anil Raiker. He gave a presentation on the importance of innovation, and how start-up companies should structure attractive business models that could last for longer and yield profits. After the talk, the attendees used this opportunity to tap into the vast experience of Anil Raiker, asking questions and advice on matters regarding their start-ups. Anil’s most memorable quote during his presentation was “The secret to success is combining Skill and Willingness”, motivating the young entrepreneurs to be ready to work harder to make their dreams a reality.

Sufuria.com Participates in The Next Big Thing

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Sufuria-logo

Sufuria.com got a great opportunity to pitch at The Next Big Thing 4th Edition investors conference organized by Business Daily on Tuesday 28th April 2015 at Strathmore University. This was a nice experience as it was the first of the many to come “big stage appearance” where the sufuria.com team get to share what thay are working on with the world.

The experience was one of a kind as people gave their feedback on what they like, what they don’t and what they would what. Sufuria.com is happy  to help people prepare different meals everyday.

During The Next Big Thing 4th edition pitch, Manu chandaria was impressed with what the team was doing. He said that it will be a great way to help people experience different cultures when it comes to dining. Larry Madowo promised the team that he would share  his omena recipe, something they are still waiting for.

Overall , the team would like to thank the whole Nation Media Group for organizing the event, the sponsors PKF and the whole team for the training. The Startup was also featured in business daily.

Sufuria.com is a startup incubated at @iBizAfrica.