On Monday 2nd October 2017, @iBizAfrica in partnership with Standard Chartered Bank launched Women in Technology Incubator program at Strathmore University. The programme is Africa’s leading women in tech incubator, aligning with calls for more diversity in technology and for more opportunities for women to develop entrepreneurial and leadership expertise.
Speaking during the launch Sunil Kaushal, Standard Charted Bank Regional CEO (Africa Middle East), talked about the growing gender digital divide on socio-economic practices, which he said have resulted in women lagging behind in training and eventually starved off financial opportunities. Laming Manjang – CEO, Kenya, and East Africa from Standard Charted Bank took to the podium and in his remarks emphasized how sustainability is a core priority for Standard Charted Bank work and they will do this by empowering entrepreneurs.
The event was officially launched by Sammy Itemere, Kenya Government Principal Secretary of Broadcast, and Telecommunications who talked about how the government has and is still putting up measures that ensure technology is accessible to everyone. He also talked about how the launch of the incubator is important for our country Kenya as investing in women is insurance for our country and the future.
During the event, there was an all-women discussion panel that talked about women entrepreneurs; cost of technology in running business and digital divide. The panel talked about how it is important for women to access more hands on training, mentoring, long-term engagement to help businesses grow, while funding is important, it is not enough. Ms. Anne Mutahi, board chairperson of Standard charted in her remarks talked about how the incubator will break the barriers women have in getting into the technology field.
The Standard Chartered team together with the Principal Secretary then went for the tour of the incubation facility at @iBizAfrica where the selected women who will take part in the program will be incubated.
The program will combine world-class startup support with local and international experience to provide Africa’s most competitive and attractive startup incubation program focusing immersive learning, mentorship, building and growing Africa’s next iconic startups taking on the continent’s most relevant challenges and opportunities.
The participants who will apply online will then be invited for a pitch to a panel of judges will then select the top 10 contestants who will go through a 10-week incubation period where they will be coached and mentored. Five of the lucky participants will stand a chance of winning $10,000 to help grow their business.
To be able to take part in the program, please apply here.
Startup Open is a global competition that is open to entrepreneurs from any industry with a new business that has yet to raise any outside capital from angel investors, venture capital firms or other formal sources of seed funding. More than 1,000 teams applied to compete in 2017.
- All applications must be submitted in English.
- Applications will be accepted from 03 April 2017, until 30 September 2017.
- Applications will only be accepted online through the Startup Compete platform or through an officially approved Global/National Competition.
- It is not required that a startup be incorporated, but a company cannot be incorporated over 18 months to compete.
- You must be starting a for-profit company, or a non-profit that does not rely on grants.
- Your startup must be pre-money, no venture funding, at time of application
- YES Stand-up phase when individuals or groups are equipped with the entrepreneurial attitudes and skills to attempt the creation of new company.
- YES Start-up phase when resources are mobilized and regulatory requirements fulfilled to start a new company.
- NO Scale-up phase when successful companies expand their businesses to new markets or in innovative ways.
- NO Exit phase when a business owner or an investor decides to cash out an investment made in the past through trade sale or merger with a larger player in the industry (merger and acquisitions), secondary sales to third parties or initial public offerings (IPOs).
The winners will be selected by a panel of judges who are looking at a range of criteria including growth potential, passion, creativity, level of idea development, and their pitching skills. Each judge’s score is weighed equally.
One winner of Startup Open receive a trip for one (1) founder to Istanbul, Turkey (room accommodation, flight and meals) where they will receive VIP delegate credentials to the Global Entrepreneurship Congress in April 2018. In addition to the Grand Prize GEC experience, all 10 finalists gain a spot in the exclusive GEN Starters Club, with additional chances there to travel to Istanbul for GEC 2018.
All Finalists will also compete in a public voting round during Global Entrepreneurship Week (Nov. 13-19) for the 2017 GEW People’s Choice Prize.
Applicants will have until September 30 to submit their startup.
For more information on the application process and the competition, please visit here .
Are you ready to scale up your business/ startup and looking to work closely with international experts and mentors
Who can apply?
- Are beyond concept validation and prototype phase in their market
- Want to improve their business operations with insights and best practices from experts and international mentors and other fast-moving entrepreneurs
- Wish to experience an outstanding and long lasting personal and entrepreneurial journey alongside engaging in the enpact community
- Are from Kenya, Germany, the East African region or Europe
- are committed to doing the entire 8-month mentoring programme.
What is in it for you?
- Work on new and exciting challenges to overcome with team, funding, product development, positioning, pivoting or business development
- Explore new markets or consolidate within the national market
- Pitch to an extensive network of partners (corporates, investors, influencers, etc.)
- Gain exposure via international and regional media outlets
- Exchange stories about failures, lessons, tips and tricks with the enpact community.
What is the programme about?
Over the last few years, startup mentoring by Enpact has driven ambitious entrepreneurs to overcome obstacles, scale their business, connect internationally with partners and gain new insights to develop their strategy and strengthen their management skills.
So far, more than 200 entrepreneurs have been through our programme and we have developed a pool of 100+ highly qualified mentors & experts. Participants from our earlier programme have employed 4 or more people in the first year and we are proud to see that they have a 80% survival rate.
Click here if you want to know more about what makes Enpact 8-month international mentoring program special!
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 firstname.lastname@example.org or get in touch with Esther on email@example.com
Read more about Rornesh Wadhwani and Wadhwani Foundation here
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.
Challenges in valuing a startup (social science research network, 2009)
- 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.
- 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.
- 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.
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.
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
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.
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.
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.