Leading Kenyan mobile operator Safaricom has launched the third edition of its three-month Appwiz Challenge, aiming to nurture and mentor ICT-driven startups.<\/b><\/p>\n
The initiative<\/a> is launched in partnership with the @iBizAfrica incubator at Strathmore University, and takes participants through a three-month training curriculum, offering mentorship and coaching from industry leaders and leading entrepreneurs, as well as training in entrepreneurship skills.<\/p>\n Three innovative businesses and ideas will be selected from four categories, with the grand winner receiving a cash grant of KES1.5 million (US$14,700), second place KES1 million (US$9,800) and third place KES500,000 (US$4,900). Submissions are now open and close on August 16.<\/p>\n \u201cThe growth of the mobile technology market presents a great platform for technology startups to not only create innovative solutions to everyday needs, but to transform these into sustainable businesses,\u201d said Joseph Ogutu, Safaricom director for strategy and innovation.<\/p>\n \u201cThrough this competition we want to transform lives through innovation, by supporting young ICT enterprises so that we can also help create opportunities for self-employment of Kenyans and retain Kenya\u2019s position as an African technology hub.\u201d<\/p>\n Appwiz, first introduced in 2013, has so far incubated almost 30 tech startup solutions. Last year\u2019s winner was campus news portal Magazine Reel<\/a>, which now has close to 200,000 active users and 1.5 million page views monthly. M-Ledger, which was a runner-up in the first edition of the challenge, was in November last year acquired by Safaricom<\/a>. It now has over 150,000 active users.<\/p>\n \u201cWe identified a gap in the market, where one of the main challenges startups face is the lack of funds to transition from prototype to market-ready product. So we developed a competition and training module that covers all the basics these innovators need to build successful start-ups. We\u2019re asking them to participate in groups of three, so that we can help them appreciate the value of teamwork in a business as we nurture their startups,\u201d said Ogutu.<\/p>\n Safaricom is also looking to support Kenyan tech startups through its Spark Venture Fund, which was launched in November<\/a> and will see successful candidates receive between KES7 million (US$72,000) and KES22 million (US$225,000) investment in return for a minority stake in their startups.<\/p>\n