For more than a decade, Junior Achievement (JA) Kenya has seen more than 400,000 youth graduate from a program inspiring and preparing young people to succeed in the global economy by equipping them with hands-on experiential skills on entrepreneurship, work readiness and financial literacy.
This year though, the company is doing it in a different way by incorporating technology tools first hand for these young achievers.
This is why the company has partnered NIC Bank and Craft Silicon foundation to launch an innovation award category in the annual secondary schools’ Student Entrepreneurship competitions. Students who are members of JA clubs in over 300 high school in the country to develop transformational innovative solutions that will affect positive change in the financial sector to benefit individuals and communities across the nation.
NIC bank has in the past partnered with institutions in similar projects looking to empower the youth as well as reach out to the customers. The company is also in collaboration in a bid to educate youth on personal finance.
ICT has become the differentiating factor locally and globally in terms of social economic development. Using technology, students will have a platform to influence financial literacy in the community as well as find simple and real time solutions to developing business.
The initiative is also meant for those in the informal education sector with over 7000 students in the slum areas already certified with computer literacy program which has helped spur innovation.
Later this year, the three partners will launch a university Boot camp where top students totaling 200 from 14 campuses will participate in a tech challenge to find solutions in the financial sector using technology.
Overview of the Bootcamp activities
Once students have enrolled for the Bootcamp, they will form groups which will be young organizations where they nominate a CEO and establish a business idea. Just like it is in a normal setting, the organization members will go out in search for investment that will be expected to grow which they can later distribute commission. The main aim of assuming the corporate world is to help sharpen individuals in a way they will be market ready.
Students will therefore develop a user friendly application, come up with an idea or tool that can beneficial to the financial service sector. The challenge will bring the students together with software developers and designers to create interesting ideas that will help inform Kenyans on how to manage their money and educate on the tools available to meet their money needs
Craft Silicon Foundation will provide professional analysts to monitor the various phases and eventually judge and provide award winners in the categories; best business idea and best CEO of all the groups in the BootCamp.