Safaricom Spark Accelerator Program continues to support early-stage startups in Kenya, with 18 businesses benefiting since its launch in 2024.
The program was introduced following the restructuring of Safaricom’s Spark Fund and is designed to help startups grow through training, mentorship, funding, and market access support.
Backed by Safaricom, M-PESA Africa and Sumitomo Corporation, the accelerator is implemented by iHub and focuses mainly on startups operating in the fintech and digital content space.
Other partners supporting the initiative include PwC, AWS, Bowmans Law and Vodacom, which provide technical advisory, legal support, and strategic guidance to participating startups.
Safaricom Spark Accelerator is anchored on the company’s goal of transforming lives by empowering founders with the support and networks needed to scale their businesses.
The program takes an ecosystem-based approach by bringing together experts in technology, innovation and market development to support startups navigating competitive and fast-changing industries.
Since its launch, Safaricom Spark Accelerator has supported two cohorts of startups.
The first cohort included Chumz, Chpter, Faidi HR, HealthX, Churpy, VunaPay, Twiva, BlackRhino and Nobuk.
The second cohort comprises Mediakits, StockApp, Leta, Weplay, FlexPay, DigiTax, Oye, QuePay and GoPay.
Startups participating in the program get assistance in product development, technology, capital and go-to-market resources that will help them form sustainable companies.
Another aspect of the accelerator program is the Investor Demo Day, during which startups get the chance to pitch their company ideas to local and international investors.
The Demo Day is the last phase of the accelerator program after the founders have undergone intensive training and mentorship.
Investors, on the other hand, get access to startups deemed to be ready for expansion and scaling.
According to Safaricom, the application process for the third batch of the Spark Accelerator Program will open later this year.
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