Village Capital has launched its FinTech for Agriculture: East Africa 2015 accelerator programme at a launch event in Nairobi. VilCap also unveiled the 12 startups to participate in the programme.
They are, Chamasoft who created a web and mobile app to automate record keeping for investment groups, Ensibuuko, Atikus Insurance, FarmDrive, Farmerline, MShamba, Namibia-based Mobipay, nanoCredit Technologies, Rangerland Solutions, Redcore Interactive, YieldUganda and SmartMoney, a free-access mobile bank to rural communities in Uganda and Tanzania,
“Thanks to the pool of talented and innovative startups that applied for a place on our programme from across East Africa. We have been truly impressed with the quality of applications received this year,” John Mulqueen, Financial Associate at Village Capital said.
The selected startups will begin the 3-month training that will focus on business model canvassing, customer hypothesis testing, financial modeling, partnership and customer development, and investor engagement. The two startups that emerge winners at the end of the 3-month programme will receive US$50,000 each in investment.
Village Capital estimates the companies forming the cohort will create 200 jobs over the next two years in East Africa, with an estimated 60% of jobs going to individuals living below the poverty line.
Image via: nairobigarage