Applications from February 15th to March 30th 2018
Thanks to an initiative of the Nairobi Office of the Italian Agency for Development Cooperation and the E4Impact Foundation, the E4Impact Accelerator will be launched in Karen, Nairobi. This initiative as well will benefit from the provision of satellite equipment by Openet. Launching on May 1st 2018, the Accelerator will host 20 Kenyan enterprises for one year and another 20 for the following year, so as to:
- Support their growth;
- Increase their revenues;
- Guide them toward profitability and impact.
The Accelerator builds upon the existing partnership between the E4impact Foundation, Tangaza University College and the Università Cattolica del Sacro Cuore (UCSC) of Milan (Italy), who together have already trained 260 Kenyan entrepreneurs.
The Accelerator is open to all sectors, but will have a preference to the Italian excellences that are relevant for the new Kenyan “Big Four Agenda” – manufacturing, universal healthcare, affordable housing, and food security. Therefore, the Accelerator will pay special attention to the following sectors:
- Fashion and design;
- Machinery and equipment;
- Construction and affordable housing;
- Green businesses and renewable energy;
- Innovative ICT services and infrastructures.
Distinctive characteristics of the E4Impact Accelerator include:
- Connection with Italian Businesses: Each entrepreneur will be coupled with an Italian mentor with the specific aim of identifying connections with Italian businesses that can help the Kenyan entrepreneur grow his/her business;
- Focus on social and environmental impact: Among the characteristics of the businesses chosen for the Accelerator, special consideration will be given to those who offer innovative solutions to social or environmental challenges;
- Access to finance: The Accelerator will possess its own pool of funds, which it will distribute in the form of seed grants to those incubated companies that qualify;
- Kibera Outreach: The Accelerator will actively recruit and will reserve two slots per year for business initiatives that come from the Kibera.
Businesses participating in the Accelerator will receive:
- Access to office space for 12 months;
- A customized training itinerary;
- International and local coaching and mentorship;
- Access to professional services (legal, accounting, communication, etc.);
- Access to seed grants based on milestone attainment;
- Relationships with potential investors and financial institutions;
- Links to interested Italian companies that can help the Kenyan entrepreneur grow his/her business.
It is expected that by the end of the 12-month acceleration period each company will have attained:
- Increased revenues;
- Formal registration;
- Network of suppliers, customers, distributors;
- Relationships with investors;
- Database of international business contacts;
- National and international exposure and visibility;
- Presence in all major social media (Facebook, Twitter, LinkedIn).
Candidates for the Accelerator could be formal or informal, registered or to be registered in Kenya. They will be expected to meet the following criteria:
- With an innovative product/service;
- Post-revenue (scale-up) with existing customer base;
- Have a team of co-founders in place with complementary skills;
- Definable social or environmental impact (special consideration will be given to those who offer innovative solutions to social or environmental challenges).
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