Entrepreneurship

@iBizAfrica partners with Wadhwani Foundation to build startup ecosystem in Strathmore University

Posted on Updated on

DSC_0409.JPG

Strathmore University through @iBizAfrica has partnered with Wadhwani Foundation to build a vibrant startup ecosystem in Strathmore University. Wadhwani Foundation is the brain child of Romesh Wadhwani, American billionaire of Indian decent who made his wealth through an empire of data, technology, healthcare and analytics companies.

Through this partnership, @iBizAfrica will run the most upto date curriculum and practicum that merges theory with practice. The curriculum has been developed to enable any student in campus regardless of the course of study move from self-discovery and ideation to launching and growing a startup in campus. Students taking part in the program will also join groups and form an e-cell, a student-lead club focusing on the practical aspects of entrepreneurship.

The program is free for all Strathmore students to signup and start on a path to becoming an entrepreneur in Strathmore University. The program is expected to enhance Strathmore University’s student experience and at the same time become a launch pad for student-lead companies in the University.

The program will run every Monday, Tuesday and Friday from 5:30 to 8:30 pm at @iLabAfrica (Kifaru Room). Interested students can find out more on how to benefit from this initiative by contacting @iBizAfrica via mail on ibizafrica@strathmore.edu or get in touch with Esther on esaya@strathmore.edu

Read more about Rornesh Wadhwani and Wadhwani Foundation here

Free Consultancy On Company Valuation for Startups

Posted on Updated on

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.

startupvaluation

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.

Register to Participate in the Entrepreneurship School

Posted on Updated on

entreprenurship schools

ThinkYoung are happy to present the 1st edition of the Entrepreneurship School Kenya – the next step in becoming a future entrepreneur! With their School in Nairobi, they are offering you the opportunity to further your entrepreneurial knowledge and principles, acquire a variety of new skills and network with experienced entrepreneurs. The training will be carried out at @iBizAfrica incubation center based in Strathmore University

During the next 5 day programme in Nairobi (Kenya) from the 4th-8th April 2016, you will be given the opportunity to question experienced entrepreneurs on a number of topics, exposing you to real experiences and stories of both entrepreneurial success and failure. Engage closely with exciting pioneers via a ‘learning by doing’ methodology and challenge the best entrepreneurs.

No professors, academic books or lectures. Simply, successful Entrepreneurs communicating their own personal experiences in business. A truly unforgettable experience, providing you with the confidence to take your next step in business!

Get ready for the challenge, and secure your Entrepreneurship School place today!

DON’T MISS YOUR CHANCE TO GET THE PROMOTIONAL FEE!

Participation fee: Early Bird price- 1000KSH. Register here to secure your slot.

For more information , visit their website.

thinkyoung                       

Entrepreneurship for Scientists and Engineers in East Africa

Posted on

IEEE and the Institute of Physics (IOP) are jointly organising the 2014 workshop “Entrepreneurship for Scientists and Engineers in East Africa ” to be held at the Kenya School of Monetary Studies from 3-7 December.

VENUE AND DATE

Kenya School of Monetary Studies, Kenya, 3–7 December 2014

OBJECTIVES

This one-week intensive workshop is designed for scientists and engineers from different parts of East Africa who are interested in learning entrepreneurial skills to commercialise their scientific inventions. Participants will benefit from the international perspective and profitable insights of leading experts and fellow delegates from the East Africa region and the rest of the world.

PURPOSES AND NATURE

The purpose of this workshop is to introduce scientists and engineers in the region to the process of innovation, generation and protection of intellectual property, technology transfer and commercialisation of inventions. The workshop will consist of lectures by invited speakers, case studies, group discussions and role-playing sessions related to the commercialisation of products.

TOPICS COVERED

Scientists and Engineers as Entrepreneurs; Opportunity and Value Assessment; Intellectual Property (IP); Basics of Patenting; IP Management and Global IP Protection; Business Plan Fundamentals, Technology Readiness Levels, Invention to Product: Timelines and Processes; Case Studies and Group Projects.

PARTICIPATION

Scientists and students throughout the East African region are welcome to attend the workshop. All sessions and talks will be conducted in English, so participants should have a good working knowledge of the language. Although the main purpose of the workshop is to help young scientists and engineers, aspiring students and other innovators are also welcome to apply.
Participants will be expected to cover their costs of transportation to the venue.
A registration fee of $250 will be charged to defray the cost of accommodation.

HOW TO GET INVOLVED

To participate at the event, complete the application form here.
The application deadline is October 31, 2014.

Seed Awards 2014- Call for Applications. Apply Now!

Posted on Updated on

seed2014

The SEED Initiative has just launched the 2014 SEED Awards to support entrepreneurs for sustainable development.

The SEED Initiative is seeking entries from innovative start-up entrepreneurs who aim to generate environmental, social and economic benefits at the local level in a country with a developing or emerging economy.

This year SEED will make available up to:

  • 30 SEED Africa Awards to enterprises in Ethiopia, Malawi, Morocco, Mozambique, Namibia, Tanzania and Uganda;
  • 12 SEED South Africa Awards to enterprises in South Africa, four of them to enterprises in the provinces of Free State, Limpopo and KwaZulu Natal;
  • 10 SEED Low Carbon Awards for enterprises in Colombia, India, Tanzania, Uganda and Viet Nam;
  • 3 SEED Gender Equality Awards, for enterprises in all countries that are not OECD or EU members (Kenya is eligible for this category).

Candidates can apply from 11th February 2014 and not later than 8th April 2014, 23:59 CET

Click here to read more.  Click here to apply!

Transforming Africa – The future Delivered. Today

Posted on

The Transform Africa Summit took place on the week of 28th October to 1st November. This was the second time after six years since Kigali first hosted the summit.

The ITU (International Telecommunications Union) partnered with Government of Rwanda to host the continental summit in Rwanda.
The conference featured four events.

  • The Transform Africa Summit and Forum
  • Youth Entrepreneurship and Innovation Extravaganza
  • Exhibition
  • Awards

The summit, exhibition and awards took place at the prestigious Kigali Serena Hotel while the Youth Entrepreneurship and Innovation sessions took place at Des Mille Collines Hotel.

winners with Kagame

Transform Africa Summit and Forum

The summit’s theme was “Delivering the future today” which embodied the concept of having a SMART Africa. In attendance were 7 heads of state who discussed and adopted a Smart Africa Manifesto to leverage achievements in ICT to deliver Africa’s future by driving socioeconomic development across the continent.
The general feel was that ICT is an enabler in tackling and providing solutions to local issues.

Some examples from Rwanda:

Rwanda has a national optic fiber backbone. This has allowed transformation across the board from Agriculture, Health care, Government to every-day-life activities. Farmers have e-Soko, a platform that provides them with real-time commodity information on the major markets.
Entrepreneurs are able to register their business online and obtain their permits within 6 hours in a seamless and efficient process.
When citizen apply for passports, they get SMS notifications for picking them up when they’re ready. The passport processing takes less than 3 days! Lawsuits are also filed on-line.

The Africa Smart Manifesto will be implemented through an alliance with the African Development Bank, World Bank, ITU and the private sector.

Entrepreneurship Web 3.0S

The Athgo Entrepreneurship Web 3.0S program as part of the Transform Africa 2013 Summit was organized by Athgo International in partnership with the Government of Rwanda and the ITU. The program brought together 25 startups consisting of teams between the ages of 18 to 32 from 14 countries in Africa.
The program seeks to advance early-stage startup businesses through synthesized in-person direction and online collaboration and generate a knowledge base in four areas that strongly contribute to the success of growth driven startups:
1) Fine-tune ideas to generate genuine value for people,
2) Develop individual competencies and create a winning (skilled people),
3) Identify sustainable sources of capital, and
4) The Right motivation

web 3.0S

At the end of the program startups pitched their fine-tuned business ideas and a panel assessed the startups based on the following four pillars of success:

  1. The business opportunity: the need or the problem that you are solving and the commercial viability of your solution as well as the business/revenue model
  2. Access to the market and to the necessary skills
  3. Current development and/or operational stage
  4. Growth or pivot plans

Solutions presented by the startups were targeting various local problems. The following startups were awarded grants (seed funding)

  1. Coming in first place was Hehe who bagged $7,500 US  – Hehe Ltd which is a fully fledged software development company seeks to offer training for high school students to enable them excel in business or university.
  2. Second place was MobiCraft who bagged $5,000 US – MobiCraft offer a service that allows members of the Catholic church to receive daily devotion verses from the Vatican over SMS.
  3. In third place was FISHMATE who bagged $3,500 US – Fishmate is an on-line platform that connects fish farmers to their market.

The Takeaway

At the end of the summit it was evident that ICT is being leveraged in Africa as an enabler – a problem solving tool.

IT professionals in Africa are asked to create local solutions for local problems.

It was also clear that the private sector is the driving seat in job creation and providing competitiveness.

For the entrepreneurs and those seeking to go into entrepreneurship: All problems are opportunities. You need a team and capital. Money isn’t the most important thing though. Lastly, execution is more important than the idea. Ideas are great but the execution is more important.

Written by | Allan Onchuru: | @allay_ | gretsel.com | teckkie.wordpress.com