Kenyan leading telco, Safaricom, has revealed 9 startups for the first cohort of its Spark Accelerator Program.
Earlier this year [2024], Safaricom, alongside MPESA Africa and Sumitomo Corporation, launched the three-month accelerator program designed to offer a comprehensive mix of training, mentorship, funding, and go-to-market support.
According to a local report, the startups have been chosen for their commercial viability and scaling ability.
“By supporting and investing in these tech-enabled startups, we aim to drive significant societal change and economic growth,” said Peter Ndegwa, CEO, Safaricom.
Below are the nine Startups selected across multiple sectors:
Embedded Finance
Chumz – a startup leveraging mobile money, gamification, and behavioral psychology to build a community of savers
Nobuk – a fintech seeking to simplify financial reporting for African groups
SME Productivity
Chpter – encourages social media marketing using an AI powered platform
Faidi HR – a one-in-all Cloud Payroll and HK Platform for businesses
Churpy – seeks to automate repetitive and manual office tasks
Twiva – a social-commerce platform that links brands to social media influencers for marketing
Content
HealthX Africa – a data driven medtech that offers hybrid digital and physical touch points
BlackRhino VR – enabling creators and brands alike, to tell immersive and interactive stories that are appealing to contemporary audiences.
Future Fintech
VunaPay – a digital platform that facilitates instant payment to smallholder farmers for produce delivered to the cooperatives.
Safaricom, which has ambitions to create an app ecosystem around its M-PESA platform, says enrolled startups stand to gain from the program by receiving access to technical support for the creation of mini-apps integrated into Safaricom’s M-PESA Super App.
This opportunity empowers them to connect with a user base exceeding four million customers utilizing the app.
This support extends beyond the initial three-month program, allowing participating startups to leverage the expansive network of over 60 million customers and 5 million businesses across M-PESA’s eight markets.
The accelerator program will conclude with an investor demo day, providing startups with the opportunity to pitch for investments from Safaricom and collaborating venture capital firms.
LIST | Here are the 9 Startups Selected for the Safaricom Spark Accelerator Program Inaugural Cohort
Kenyan leading telco, Safaricom, has revealed 9 startups for the first cohort of its Spark Accelerator Program.
Earlier this year [2024], Safaricom, alongside MPESA Africa and Sumitomo Corporation, launched the three-month accelerator program designed to offer a comprehensive mix of training, mentorship, funding, and go-to-market support.
According to a local report, the startups have been chosen for their commercial viability and scaling ability.
“By supporting and investing in these tech-enabled startups, we aim to drive significant societal change and economic growth,” said Peter Ndegwa, CEO, Safaricom.
Below are the nine Startups selected across multiple sectors:
Embedded Finance
SME Productivity
Content
Future Fintech
Safaricom, which has ambitions to create an app ecosystem around its M-PESA platform, says enrolled startups stand to gain from the program by receiving access to technical support for the creation of mini-apps integrated into Safaricom’s M-PESA Super App.
This opportunity empowers them to connect with a user base exceeding four million customers utilizing the app.
This support extends beyond the initial three-month program, allowing participating startups to leverage the expansive network of over 60 million customers and 5 million businesses across M-PESA’s eight markets.
The accelerator program will conclude with an investor demo day, providing startups with the opportunity to pitch for investments from Safaricom and collaborating venture capital firms.