Safaricom Foundation has launched a multi-million fund targeting investors in the social innovation sector who are looking for technical and entrepreneurship support to develop and deploy mobile technology solutions.
According to Joseph Ogutu, the Safaricom Foundation chairman, the Sh. 50 million fund dubbed Technology for Good Fund is expected to empower young innovators with the potential to deliver significant and impactful solutions that leverage mobile technologies.
“Our overall aim is to enable transformational innovation for young developers who may not have access to the technical support they need to bring their ideas to life. Successful applicants will have to demonstrate that they have viable and sustainable ideas that are commercially viable for them in the long term,” said Mr. Ogutu.
Mobile technologies have proved to be essential tools for the development of solutions that can solve some of Kenya’s most pressing socio-economic challenges.
The application process is open for the next 21 days, ending October 1,2015 and forms are available on the Safaricom Foundation website- www.safaricomfoundation.org
The selected projects will be incubated at Strathmore University’s iLab for three months. During incubation, the successful applicants will receive technical support, mentorship and expert training relevant to the success of their innovation.
After the incubation phase, five innovations will progress to the next phase of the program, which will seek to identify tangible ways that they can be scaled for success.
The innovations must be mobile-based, of public benefit, demonstrate sustainable scalability, offer value for money and be in line with Safaricom Foundations strategic pillars which include health, education, economic empowerment, arts and culture, water, environment and disaster relief.
“We believe mobile technology can be used to address some of the world’s most pressing humanitarian challenges. It is transformative and can enable us put relevant, impactful services in the hands of underserved communities,” Mr. Ogutu said.
