In September, Safaricom through the Safaricom Foundation has established a 50 Million Shillings Technology for Good Innovation fund aimed at growing social innovation locally. The fund targets mobile-based solutions that demonstrate sustainable scalability, offer users value for money and are in line with the pillars of the Safaricom Foundation including health, education, economic empowerment, culture and the arts, water, environment and disaster relief.
Interested startups were to apply after which, applications were to undergo shortlisting and evaluation by a team comprising of Strathmore, Safaricom Foundation and Technology Innovation. Safaricom says it received 34 applications into the fund with shortlisting of these firms currently on going. Five solutions were then to be picked for incubation at the Strathmore University’s iLab for three months. The applicants will then receive technical support, mentorship and expert training to allow for the scaling of their ideas. After that they will present their innovation to the Technology for Good committee before receiving funding.
Social enterprise in technology involves leveraging technology tools to create solutions capable of empowering the society and at the same time deal solve most of the world’s problems from agriculture to health and even education.