CfC Stanbic Bank partners with Seedstars World to find the best startup in Kenya

CfC Stanbic Bank has partnered with Seedstars World, the global seed-stage startup competition for emerging markets, to identify the best startup in Kenya on October 2^nd.

 

Up to 12 of the best startups in Kenya will compete to represent the country at the Seedstars World competition at the final event in Geneva and win up to USD 500,000 in equity investment. The local entrepreneurs will receive additional support from CfC Stanbic Bank Kenya.

CfC Stanbic Bank in Kenya will act as the main partner for the event and will explore potential options for collaborations and partnerships with the participating entrepreneurs to empower them to succeed.

"As a bank, our core purpose is empowering business people to succeed and this one of the way of doing so for startups as it brings together passionate people and also reflects our entrepreneurial spirit as we help them take those important first steps in their entrepreneurial journey.” said Ben Wandawanda, Head of Business Banking, CfC Stanbic Bank Kenya.

Continuing on its goal to put the spotlight on entrepreneurs from emerging countries, Seedstars World expanded its competition to more than 50 countries for 2015, up from the 36 countries of the 2014 edition. Its past participants have raised 20M USD together, providing employment to +360 employees all around the world.

“Kenya has consistently proven itself to be an exceptional startup ecosystem and an enabler of brilliant talent. Together with CfC Stanbic Bank Kenya, we are very excited to discover and bring support to all entrepreneurs participating in the competition.” said Gregory Pepper, Regional Manager for Africa at Seedstars World.

All regional winners of the local events are invited to Switzerland to pitch at the final event in February 2016. This year, Seedstars World is looking to expand its impact through key partners in recognizing the startups potential according to diverse criteria. In addition to the 500’000 USD global winner prize, two more 500’000 USD equity prizes have been added: a travel track, powered by lastminute.com group, and a fintech track, putting the total amount of investment to be won at 1’5M USD. Various prizes can be won outside the tracks, including a 50’000 USD space prize supported by Inmarsat and AP Swiss.

OkHi emerged as the local Nairobi 2014 winner, with its next generation address system for Kenya and beyond.

This year, Seedstars World has a local Ambassador representing the initiative throughout the year Douglas Ogeto, Managing Partner at The Founders Hive (Africa), who chose to join Seedstars World because “it’s an opportune time to support local startups as they have shown and have the potential to compete and scale globally and offer competitive quality and experience”. They have also partnered up with iHub, Bonelli Design Firm, iBiz Africa and The Founders Hive.

 

 

KenInvest, Kenya Chamber signs partnership deal with China Trade Week

Kenya Investment Authority (KenInvest) and Kenya National Chamber of Commerce and Industry (KNCCI) have announced a partnership agreement with MIE Events, to host over 150 Chinese exhibitors next month during the China Trade Week.

 

The China Trade Week, which will be the first comprehensive China-focused trade event to be hosted in Kenya and the East Africa region, will kick off from 1^st to 3^rd of July at the Kenyatta International Convention Centre (KICC) in Nairobi.

 

Speaking during the partnership agreement KenInvest, Investment Promotion (IPD), General Manager, Mr. Pius Rotich said that they are delighted to have partnered with MIE Events as they host the first ever China Trade Week exhibition in Nairobi.

 

“It’s important to note that Kenya has historically been the commercial hub of Eastern Africa, and with the integration and expansion of the East African Community, the country is now the commercial centre for a region comprising of over 138 million people and a GDP of US$ 82.1 billion and its gateway. The exhibition will go a long way towards opening more investment opportunities for our local Small and Medium Enterprises (SMEs) in the region,” said Mr. Rotich.

 

The China Trade Week will bring together Chinese companies across various industry sectors including building and construction, consumer electronics, electric vehicles, plastic molding equipment and materials, home electrical goods, green energy solutions, portable housing solutions and elevators system.

 

Also commenting on the partnership, KNCCI Deputy Chief Executive Officer Ms. Nemaisa Kiereini said the China Trade Week signified the start of what could be a major trade milestone between SMEs in Kenya and the East African region and China.

 

“I would urge our partner members to take advantage of this upcoming exhibition to develop and cultivate long-lasting business opportunities with companies in China,” Ms Kiereini said. 

 

MIE Events, International Director Gary Robinson lauded the two institution for agreeing take part in the exhibition, adding that the trade fair would create a conducive environment for stronger ties between Chinese companies and the local business community looking to source for products and services from China.

 

“We want to link and empower many businesses with their counterparts in various parts of China and open up even greater opportunities for the local people and we thank both KenInvest and Kenya National Chamber of Commerce and industry for endorsing our effort,” added Robinson.

 

The 3-day event is designed to provide Chinese companies with a unique opportunity to meet, discuss and develop trading and business partnerships with both Kenyan entrepreneurs and the region’s business community across various commercial sectors.

Boost for women tech entrepreneurs

More than 60 budding young female entrepreneurs in the technology field have benefited from business development skills share at an Entrepreneur Development Workshop dubbed “Who wants to be a tech millionaire”.

Held in Nairobi, the one-day workshop was organized by Pan-African organization ‘She Leads Africa’ and funded by giant technology firm Intel.

The young entrepreneurs with various business ideas and start-ups were trained on registering their businesses, conducting market survey and accessing funds. A representative from Intel East Africa also shared with them about the Intel products that can support their businesses and also how they can plug in their businesses to the Intel infrastructure for support.

“The participation of women in tech programs has been very minimal in the past as men seem to be dominating such programs. So it is quite clear that there is a need out there to reach out to women in the tech field. As Intel, we are looking to offer these women technical training, marketing and creating awareness of their apps ideas,” said Intel East Africa’s Lead for Software and Services, Agatha Gikunda.

Media and Technology expert Isis Nyong’o – Madison and Innovator Calvince Okello of M-Shamba application are among those who shared with the tech-preneurs. 

“The purpose of the workshop is to support young women interested in technology to take their ideas and turn them in to sustainable businesses,” said She Leads Africa co-founder Ofua Osei adding that there will be similar workshops in Johannesburg and Lagos later in the year.

Founded in 2014, She Leads Africa is a platform that provides the most talented female entrepreneurs across the continent with access to the knowledge, networks and financing needed to build and scale strong businesses.

“This was a great opportunity and I have learnt so much on how I can take my business to the next level and the relevant technologies from Intel that can propel my business,” said Tamara Nerima, the founder of Kenyacompare.com, and a beneficiary of the workshop.