The Spark Accelerator Programme, a collaboration between M-PESA Africa, Sumitomo Corporation, and iHub Nairobi, has announced nine early-stage startups ready to take their businesses to the next level.
This programme is all about empowering bold founders with a vision. They’re looking for businesses that will not only grow and scale but also create a positive impact on society.
The chosen startups come from a range of fields, including finance, business tools, and content creation. Here’s a look at the innovative companies on board:
Chumz.io is building a fun and engaging way to save using mobile money, making saving a breeze.
nobuk simplifies group payments and record-keeping, making it easier for African communities to manage their finances together.
chpter. uses AI to help businesses leverage social media platforms to boost sales.
FaidiHR offers a user-friendly cloud platform to streamline payroll and HR for businesses.
Churpy Inc. tackles repetitive tasks in finance departments, freeing up time for more strategic work.
Twiva connects brands with social media influencers, creating a powerful social commerce engine.
HealthX provides a data-driven approach to primary care, with both online and in-person services.
BlackRhino VR empowers creators and brands to tell stories in a whole new way: immersive and interactive virtual reality.
VunaPay brings instant payments to smallholder farmers, ensuring they get paid quickly and fairly.
Startups participating in the Spark Accelerator Programme will get access to a variety of technology resources from Safaricom, such as the M-PESA Africa Open APIs and the Daraja APIs.
Safaricom’s CEO, Peter Ndegwa, highlighted the programme’s focus on using technology for positive change. He sees the Spark Accelerator as a driver for innovation, economic growth, and societal progress.
Here’s what you need to know:
Focus Areas: This programme looks for startups in specific areas, including embedded FinTech, SME productivity tools, FinTech powered by AI, and content creation. There are also opportunities for startups in aligned industries.
Eligibility: This programme is open to diverse, experienced teams with existing products and some revenue (post-revenue and Pre-Series A). Female founders are strongly encouraged to apply.
Benefits: Accepted startups will receive a range of benefits, including:
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- Access to Safaricom and M-PESA Africa’s technology and products.
- Mentorship from successful founders and industry experts.
- Support product development, talent acquisition, and go-to-market strategies.
- Networking opportunities with investors and other founders.
- Access to AWS Activate Credits.
Selection Process: Applications will be screened for fit, scalability, and potential, followed by interviews and due diligence.
Timeline: Applications were closed on February 16th, 2024. The programme started in March and runs for 14 weeks.
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Katsuya Kashiki, from Sumitomo Corporation, is enthusiastic about the collaboration. They believe their global expertise, combined with Safaricom and M-PESA Africa’s strong presence, will fuel the growth of digital financial services across Kenya and Africa.
The Spark Accelerator programme also boasts additional support from Amazon Web Services (AWS), PwC, and Vodacom. This powerful network of partners is sure to provide the chosen startups with the tools and resources they need to thrive.
Stay tuned for more updates on these inspiring Kenyan innovators!
