Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
The selected projects will be incubated at Strathmore University’s iLab for three months and successful applicants will receive technical support, mentorship and expert training relevant to the success of their innovation/FILE

Kenya

Safaricom Foundation sets up Sh50mn Fund for smart innovators

The selected projects will be incubated at Strathmore University’s iLab for three months and successful applicants will receive technical support, mentorship and expert training relevant to the success of their innovation/FILE

The selected projects will be incubated at Strathmore University’s iLab for three months and successful applicants will receive technical support, mentorship and expert training relevant to the success of their innovation/FILE

NAIROBI, Kenya, Sept 10- Safaricom Foundation has launched a multi-million shillings fund that targets investors in the social innovation field who may need technical and entrepreneurship support to develop and deploy mobile technology solutions.

The Sh50 million Technology for Good Innovators Fund is expected to be a transformational fund that will empower young innovators with the potential to deliver significant and impactful solutions that leverage mobile technologies.

“Our overall aim is to enable transformational innovation for young developers who may not have access to the technical support they need to bring their ideas to life. Successful applicants will have to demonstrate that they have viable and sustainable ideas that are commercially viable for them in the long term,” Safaricom Foundation Chairman Joseph Ogutu said.

He said the application process is open for the next 21 days, ending October 1, 2015 adding that forms are already available on the Safaricom Foundation website.

The selected projects will be incubated at Strathmore University’s iLab for three months and successful applicants will receive technical support, mentorship and expert training relevant to the success of their innovation.

After the incubation phase, five innovations will progress to the next phase of the program, which will seek to identify tangible ways that they can be scaled for success.

The innovations must be mobile-based, of public benefit, demonstrate sustainable scalability, offer value for money and be in line with Safaricom Foundations strategic pillars which include health, education, economic empowerment, arts and culture, water, environment and disaster relief.

“We believe mobile technology can be used to address some of the world’s most pressing humanitarian challenges. It is transformative and can enable us put relevant, impactful services in the hands of underserved communities,” Ogutu said.

The Technology for Good fund is in line with the 2014-2017 Safaricom Foundation strategy that seeks to scale up development and use of mobile technology for development.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...