Youth stand chance to access Ksh1 million mentorship World Bank support
Innovative youth have a chance to access up to Ksh1 million worth of business support, mentorship and training in a programme funded by the World Bank.
The call for innovations under the Skies Business Incubation Program 2024 is seeking inventions in the sectors of manufacturing and value addition, agriculture, the creative economy, health and digital technologies.
The winners who include persons with disability, have two weeks to apply. They will also get expert support in fundraising, business development, intellectual property rights, marketing, business registration and legal compliance.
World Bank is channeling the kitty through Mount Kenya University (MKU) after its Innovation and Incubation Centre won Sh37 million performance-based grant through the Ministry of Investments Trade and Industry and implemented by E4Impact and Spinerberg.
Also encouraged to apply by the July 15 deadline are people living with disability, women and marginalised groups. Donatus Njoroge, MKU’s Head of Innovations, Intellectual Property and Community Engagement says those who qualify will get up to Sh 1 million each in business support, but not a cash grant.
Market diffusion
“In the project we will incubate 40 early stage businesses and offer technical business support up to December this year when the project ends and also post acceleration phase.
“We will also implement our own performance improvement plans to position the innovation hub as a hallmark of excellence in SME support across the country,” he adds.
Established in July 2022, the MKU Innovation and Incubation Centre was jointly funded by the Erasmus+ programme of the European Union.
“The multi-million shilling MKU hub is intended to support the life cycle of innovations, from inception to market diffusion and commercialisation. It enables scientific findings, knowledge and intellectual property to flow from creators to the benefit of the community,” explained Njoroge.
Kenya boasts of a burgeoning number of an estimated 200 business accelerators, incubators and tech bootcamp providers.
