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Spark venture fund (Safaricom)




Over the years safaricom has been the leading service provider for a couple of products, including and not limited to mpesa, mshwari, voice and sms services.
They have a big market share at home and speeding to all over the world. This has led to mass profits which they calculate in billions 

Spark venture 

Officially launched in November 2014 this was a project that aimed to help local startups get up on their feet and hit the ground running.
The project specifically was aimed to assist tech start up that use mobile technology as an enabler.
It support the successful development and growth of high potential mobile tech start-ups in Kenya through a combination of investment, business development support and technical assistance leveraging on Safaricom’s unique capabilities, assets and market positioning.
$1 Million was set aside to assist the growth of this startups and could be used as minority equity or convertible dept with each innovator banking between ksh 6-22 million  

Who’s eligible? 

Apparently you cannot just wake up run to safaricom and bubble your idea. Even you will not pass security. By default your innovation must be based on the mobile technology and fits in the following categories: 
  • Mobile commerce/Payments
  • Youth, Media Content and Infotainment
  • SME and Cloud solutions
  • Data and Messaging
Applicants must as well fulfill the following requirements:
  • Kenyan presence/citizenship
  • A Core diverse skilled team
  • Refined Working mobile based product/service
  • Commercially viable business model
  • Active user base
  • Desirable
  • Generating revenue
in a nutshell.

This is a really good project as it aims to grow our industry and put food in people’s tables.
A couple of startup have greatly benefited from this initiative.
They include:
  • Eneza
  • FarmDrive 
  • Musoni
Am sure there are many more out in the market and this project is still in course. (Their website has no updates on its progress).

In case of any clarification hit me up on the comments or contact spark

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