On June 17, The GrowthHub opened application for early stage ventures solving Africa’s most pressing social and environmental challenges. The programme run by The GrowthHub is tagged Innovation for Impact. It is however targeted at two categories of start-ups each with 10-12 teams and 12-15 teams on a 16 weeks and 13 weeks journey respectively from August through December 2013. Idea to Innovation (i2i) – Incubation This calls on start-ups with matured or validated ideas, committed to develop a product or service (prototype) and pilot (getting to their market). It is a 4-month incubation programme where the first 6 weeks involves training and mentorship on methodologies that will make the problems they are solving clearer to the teams. At this stage, they will participate in what they call a mid pitch to investors for a chance by 5 of such teams to get 5,000 USD seed funding while they build the product/service and pilot in the remaining 10 weeks. Key Dates: Applications due by July 15, Information Sessions runs from July 1 through July 11 while the programme starts August 1 . Innovation to Impact (i2i2) - Acceleration Innovation to Impact targets validated ideas already generating revenue, irrespective of how big or small it is. They will have in-depth knowledge on how to figure out their market and make an aggressive entry. They will also be taken through the process of financial modelling and analysis as well as an implementable business model that will help them scale. All ventures will have an opportunity to pitch their business ideas to potential investors while two start-ups, selected by their peers will receive 75, 000 USD investment funding at the end of the programme. Key Dates: Applications due by August 19 and starts September 13. Information Sessions begins August 1 to August 8 Why Entrepreneurs should apply Entrepreneurs should apply for the i2i programmes because At the end of the programme, 2 enterprises will be selected by their peers to receive a $75,000 investment from The GrowthHub’s fund (GrowthAfrica/Village Capital). One of these two could be you! (Innovation to Impact) 5 teams will receive 5,000 USD each (25, 000 USD) as seed funding so as to pilot. Opportunity to draw on some of the most experienced minds in entrepreneurship and also leverage peer learning and networking with potential partners and investors. Opportunity to participate in five 2-day workshops addressing key aspects of your start-up. (innovation to impact) 16 weeks of rigorous training, mentorship and going to the market (idea to innovation) Mentorship that seeks to implement changes identified during the workshop and strengthens your start-up. What they had to say “One of the biggest benefits of going to the programme at The GrowthHub is meeting other entrepreneurs who were like me solving the same kind of problems and we learnt a lot from each other. It ended up that some of the other companies provide the solution we needed. We are currently working Lipisha (an alumni) a payment company who manages our payments via m-pesa now.” - KyleSchutter, Founder & Director of Technology, Takamoto Biogas. “Before I joined The GrowthHub, I was an entrepreneur with just an idea and prototype. But today, I don’t only have a prototype, I have a real product out there in the market; I have customers and great number of users; I have mentors around me and I have potential investors that I am working with right now. Basically, we have a business; we don’t have an idea anymore. - Hassan Abi Elmi, Founder & CEO, Uhired.Me SOME OF THEIR NOTABLE START-UPS Shop Soko (formerly Sasa Africa) has raised over US$ 700,000 in investment funding. They developed the first e-commerce marketplace that enables Africa’s talented & women artisans to post and sell their products online directly to end consumers. Ecofuels Kenya, one of our start-ups who were selected by their peers to receive 50, 000 USD investment funding from our first accelerator programme now directly employ over 10 people and are affecting lives of over 200 people through their croton suppliers/growers network and clean/green operations. Lipisha another start-up venture and co-winners of our first accelerator programme received 50, 000 USD investment funding. They enable businesses to automatically receive and process non cash payment and micropayments. They target both SMEs and corporates. “In the last one year, we’ve been able to work with 35 entrepreneurs with 18 social enterprises who have been able to scale their businesses from coming up with an innovative idea to building a business around it. Many of them have raised equity, debts and grants to the worth of several millions of USD and have created over 100 direct jobs.” – Patricia Jumi, Co-founder & Managing Director, The GrowthHub. More Information Applicants will have until July 15 to submit applications for the Idea to Innovation programme and up till August 19 for the Innovation to Impact programme. To learn more about The GrowthHub as well as to submit an application, visit thegrowthhub. Entrepreneurs who are not committed need not apply. The GrowthHub 5th Floor, Cape Office Park, Ring Road, Kilimani-Nairobi, Kenya. E-mail: info@thegrowthhub; i2i@thegrowthhub Phone: 020-2501777, 0750877595 Facebook: facebook/thegrowthhub; Twitter: @GrowthHubAfrica
Posted on: Fri, 05 Jul 2013 07:19:12 +0000
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