Local startups receive funding for growth
06 February 2014, 08:20
Nairobi - A global technology has availed grants to two local startups to further their growth.
Africa 118 and Kytabu are beneficiaries of the Microsoft innovation grant programme to fast-track African startups.
They are among five African startups to receive the funding. The other two are Nigeria’s Save & Buy and Gamsole as well as Uganda’s access.mobile LLC.
Microsoft said the awards would provide the financial support the startups needed to “cross borders and empower the next generation of developers and entrepreneurs in Africa.”
“Through the 4Afrika Initiative, Microsoft is now extending its support to include grants to startups, selecting five startups as the first set of recipients,” said a statement by Microsoft.
The startups were selected based on the uniqueness and scalability of their solutions, their business models and the relevance of the key problems they are addressing.
The solutions and apps developed by the startups are relevant to consumers and the African market, ranging from agriculture, education and consumers.
“As part of the 4Afrika initiative, we are excited to be supporting startups that have developed innovative solutions that address key issues in Africa,” said Amrote Abdella, Director of Startup Engagement and Partnerships for 4Afrika.
– CAJ News