The Safaricom Foundation Technology for Good Accelerator is a three months long incubation and seed-funding program that empowers entrepreneurs to launch globally scalable mobile tech driven startups that solve relevant local challenges.
Selection-Our selection process is a unique full-day workshop and pitch presentation (after a week) where participants are trained and equipped with the most relevant lean startup tools to conduct customer discovery and validation. Teams then pitch to demonstrate customer-problem fit. The teams are also trained and equipped with the tools and skills for business modeling. They develop a business model to be tested during the incubation period.
Selection and eligibility Criteria:
- Must be registered to conduct business in Kenya in accordance with Kenyan law
- Must demonstrate the innovation and how it links to the Safaricom Foundation strategic
- Must demonstrate capacity to develop and roll out the solution to benefit Kenyans
- Must demonstrate how they have involved partners and the community that will benefit from the innovation
- Potential innovations will be incubated for three months after which those selected will be funded
- Payments will be paid based on pre-agreed milestones
- There will be grants to take the innovation to deployment and scale
- This is an innovation challenge fund and the Foundation reserves the right to take an equity stake in the final product (negotiated)
- The focus is on the benefit of the innovation to bring change to the community
- Those selected must be willing to be incubated for three (3) months at @iBizAfrica, Strathmore University
- The fund does not fund operational or logistical costs
- The selection will be by a committee comprised of individuals from Strathmore University, Safaricom Foundation, Mpesa Foundation partners, Safaricom Innovation and Technology divisions
Training-Selected teams undergo a one day customized training creativity and innovation and an intense two weeks curriculum designed to quickly orient them into the nuances of business skills, entrepreneurship and lean startup techniques. The training will equip the participants with the knowledge and skills across entrepreneurship, business modeling, team development, business processes, presentation skills and pitching, product development and lean startup methodology. Classes take place in the evening from 5:30 to 8:30 pm and on Saturdays from 9:30 am to 12:30 pm.
Mentoring and Coaching-Teams will have access to top mentors and coaches from industry and Strathmore University.
MVP and Proof of Concept-Concurrently with the training, teams embark on building an MVP for proof of concept. They also run experiment to test the business model. The duration for this is one month. Teams pitch to demonstrate proof of concept and to submit application for seed funding.
Seed Funding-Applications for seed funding are submitted to the investment committee for review and approval. Applicants can apply upto KES. 5,000,000 (USD 50,000) in seed funding.
Who Should Apply
- Teams of a maximum of three people by:
- Kenyan youth (18-35 years)
- National and community based non-governmental organisations
- Faith based and civil society organizations
- academic and research institutions
- innovation hubs and the private sector
Themed Categories for the Program
- Economic empowerment
- Environmental conservation
- Disaster relief
Duration: 3 months incubation, 3 months post-incubation support
Dates: Open Call for Applications-2nd May
Deadline call for applications-16th June 2017