Nine early-stage Kenyan startups have been chosen to participate in the Spark Accelerator program, an initiative led by Safaricom, M-Pesa Africa, and Sumitomo Corporation. The program aims to foster the growth and scalability of commercially viable businesses that are driving societal change.
In 2014, Safaricom introduced the Spark Venture Fund to invest in and support late-seed and early growth stage companies in Kenya, utilizing Safaricom assets to facilitate their expansion. This US$1 million fund resulted in six investments.
In January, Techmoonshot reported that the mobile operator had collaborated with M-Pesa Africa and Sumitomo Corporation, a Fortune 500 global trading and business investment company, to invite applications for a new edition of the accelerator program. Over a three-month period, the accelerator will offer a combination of training, mentorship, funding, and go-to-market support to propel the growth and scalability of the selected ventures, positioning them for long-term success.
Read also: Kenyan Tech Gets A Boost With Spark Accelerator.
The nine Kenyan startups chosen for the program include:
- Chumz, which leverages mobile money, gamification, and behavioral psychology to cultivate a community of savers.
- Nobuk, which streamlines payment collection and reconciliation for African groups and collectives.
- Chpter, empowers businesses to enhance sales on social platforms.
- Faidi HR, offers an all-in-one cloud payroll and HR platform for businesses.
- Churpy, aims to automate repetitive and manual tasks in the office of the CFO.
- Twiva, a social-commerce platform facilitating brands’ access to markets by utilizing social media influencers.
- HealthX Africa, a data-driven primary health care provider offering hybrid digital and physical touch points.
- BlackRhino VR, enabling creators and brands to craft immersive and interactive stories.
- VunaPay, a platform for agricultural cooperatives facilitating instant payment to smallholder farmers for delivered produce.
Peter Ndegwa, CEO of Safaricom, emphasized the program’s commitment to leveraging technology for meaningful innovation. By supporting and investing in these tech-enabled startups, the initiative aims to drive significant societal change and economic growth. Ndegwa expressed excitement about collaborating with visionary founders and anticipated the impactful transformations they will bring to their respective sectors.
