Applications will soon open for the second phase of the Spark Accelerator programme, an initiative of Safaricom, M-Pesa Africa and Sumitomo Corporation that seeks to grow and scale commercially-viable businesses that are creating societal change.
Safaricom first launched the Spark Venture Fund back in 2014, to invest and support late-seed, early growth stage companies with a presence in Kenya, whilst leveraging Safaricom assets to enable the companies to scale. The US$1 million fund made six investments.
Disrupt Africa reported in January of last year the mobile operator had partnered M-Pesa Africa and Sumitomo Corporation, a leading Fortune 500 global trading and business investment company, to open applications for another edition.
Nine startups were selected to take part in the programme, which concluded recently with an investor demo day where they showcased their achievements and built connections with prospective investors.
“At Safaricom, we believe technology is a catalyst for change and solutions, and that’s why we incentivise and support innovative startups with the tools they need to reach the next level. With the Spark accelerator programme, we are investing in our future leaders while contributing to significant societal change and economic growth,” said Safaricom CEO Dr Peter Ndegwa.
Applications for the second cohort will open on April 1 and close on May 15.
