Business incubator, @iBizAfrica, has stated that it plans to invest in innovative Kenyan startups and intends to raise an investment fund, Disrupt Africa reports.
The move is aimed at assisting students (and non-students) to advance in ICT solutions and businesses, with a meaningful impact on the society. Previously, the hub had charged incubation fees in a bid to be sustainable, but now intends to put structures in place to raise an investment fund and take equity stake in startups.
“As an incubator, as we grow and continue our to support startups, we are also trying to think of ways to make our model as sustainable as possible,” said Bernard Chiira, Manager @iBizAfrica in the report. “One of the things we are looking to do in the future is take equity stakes in companies, and we want to be the best university-based incubator in Africa.”
@iBizAfrica is the Kenyan Strathmore University’s business incubator that carries out the entrepreneurship and incubation theme of iLabAfrica, a Nairobi-based research center.
Image: @iBizAfrica
