Startup capital on offer courtesy of IDEA and Strathmore University

Kenya’s leading private higher-learning institution Strathmore University has partnered with the IDEA Foundation, a global philanthropic organisation, to offer students and graduates financial support to start ICT business-related projects.

This is not the first time the two organisations are working towards a similar course; the first episode was launched in April this year, says IDEA. Twenty-nine aspiring entrepreneurs applied, high quality, strong ideas and initiative projects were received, eight were selected and narrowed down to the best three, which are now supported by the foundation.

Those interested, on condition that one is a Strathmore University student or graduate, are advised to submit their documented proposals for a consideration of a startup capital from IDEA.

The business plan should be limited within ICT, tourism, agriculture, retail, manufacturing or other sectors that are highlighted in the Kenya Vision 2030.
Afterwards, a set of representatives from the two organisations will work closely as a committee in evaluating the best business plans that deserve funding.
The loan will cover for all expenses within the first six months, as well as use the business incubator of the university — as long as it is beneficial to the project.
Incubation services, offer ment­or­ing and coach­ing, busi­ness advis­ory and guid­ance on applic­a­tions for business fund­ing while office space at the incub­ator is available as part of the sup­port to the plan.
IDEA Foundation, also Initiatives in Development and Education, was founded in Norway. It has expanded to African countries reaching out to graduates with fresh and great business ideas for development.
The foundation, a private initiative supported by sponsors, has a mission to support business people by nurturing business ideas to facilitate competition, high ethical standards thus creating employment to the local community leading to socio-economic progress.
Found­a­tion will work with busi­ness Incub­ator, @iBizAfrica hosted by @iLabAfrica.
The deadline for application is on August 22, 2012.

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