Safaricom’s multi-million mobile technology fund targets investors in the social innovation field
Mobile technologies have proved to be essential tools for the development of solutions that can solve some of Kenya’s most pressing socio-economic challenges. This is why Safaricom foundation- the corporate social investment arm of Safaricom Limited has launched a multi-million fund that targets investors in the social innovation field who may need technical and entrepreneurship support to develop and deploy mobile technology solutions.
The foundation looks to empower young innovators with the potential to deliver significant and impactful solutions that leverage mobile technologies. Also, the programme is meant to enable transformational innovation for young developers who may not have access to the technical support they need to bring their ideas to life.
Application process open
The application process open for the next 21 days ending October 1, 2015 will see the selected projects incubated at Strathmore university’s iLab for three months where they 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.
The Technology for Good fund is in line with the 2014-2017 Safaricom Foundation strategy (http://www.safaricomfoundation.org/) that seeks to scale up development and use of mobile technology for development comes few days after Safaricom Ltd announced the selection of 13 startups in the Appwiz challenge another program in conjunction with Strathmore university’s @iBizAfrica that aims to help selected innovators leveraging on mobile technology move from idea/prototype to product or service within an incubation period of 3 months.
Forms are available on the Safaricom Foundation website- www.safaricomfoundation.org