Skip to main content

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

Comments

Post a Comment

Popular posts from this blog

Revolutionizing Agriculture: Precision Farming with Drones and Sensors

  Drones in Agricuture In the rapidly evolving world of agriculture, precision farming stands out as a groundbreaking approach that harnesses the power of technology to enhance productivity, sustainability, and efficiency. Among the most transformative tools in this field are drones and sensors, which are redefining traditional farming practices. This article delves into how these technologies are being integrated into modern agriculture, the benefits they offer, and the future they promise. The Rise of Precision Farming Precision farming, also known as precision agriculture, involves the use of technology to manage crops and soil in a more precise and controlled manner. The goal is to optimize field-level management regarding crop farming. Unlike conventional methods that rely on broad-spectrum approaches, precision farming tailors practices to the specific needs of different areas within a field. Drones: Eyes in the Sky Drones, or unmanned aerial vehicles (UAVs), have become an i...
Post a Comment
Read more

Early Detection of Brain Disorders: Using Wearable Devices Through Eye Movement

 Early Detection of Brain Disorders Using Wearable Devices Through Eye Movement Introduction In recent years, the integration of wearable technologies into healthcare has opened up exciting possibilities for early disease detection. Among these developments, wearable sensors that track eye movement have emerged as a promising tool in diagnosing brain disorders. Eye movement, which is closely linked to brain function, can offer vital clues in detecting neurological conditions such as Parkinson’s disease, Alzheimer’s, and other cognitive impairments. This research addresses a pressing question: Can subtle changes in eye movement patterns be reliably used to detect brain disorders before clinical symptoms become evident? With advancements in precision medicine and AI, the convergence of IT, biomedical engineering, and neuroscience is becoming not only possible but necessary. As a software engineer transitioning into bioinformatics, I see this as a pivotal opportunity to apply data sc...
Post a Comment
Read more

The future of Artificial Intelligence: trends, challenges, and opportunities

  The future of Artificial Intelligence (AI) is an exciting topic, with many trends, challenges, and opportunities to explore. AI is rapidly advancing and changing the world we live in, from business and healthcare to entertainment and social media. In this blog post, we will dive into some of the latest trends in AI, examine the challenges that come with AI, and explore the opportunities that AI presents. Trends in AI: One of the biggest trends in AI is the development of deep learning algorithms. These algorithms use neural networks to learn from vast amounts of data, making it possible for machines to recognize patterns and make predictions with high accuracy. Another trend is the integration of AI with other technologies, such as the Internet of Things (IoT), which is creating a world where machines are connected and can communicate with each other in real-time. Challenges in AI: One of the biggest challenges in AI is the ethical and moral implications of using AI. As AI become...
Post a Comment
Read more