Funding Opportunities for Startup Businesses in Kenya

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Funding Opportunities for Startup Businesses in Kenya
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By Kuria Kimani

Running a successful business requires funding for it to attain substantial levels of success and accomplishment. There are several opportunities for funding entrepreneurs in Kenya who have great ideas. Potential investors look at scalability, replicability, sustainability, and profitability of the idea before releasing funds. This writer takes a look at some funding opportunities for startup businesses in Kenya. 

Global Innovation Fund

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This is an all-year-round funding entity that receives applications on a rolling basis. The Fund receives applications from entrepreneurs in any developing nation that meet criteria such as a focus on the poor, novel approaches to problems, backed by data on potential impact, replicability, scalability, have a clear role set out for the Fund, and led by strong and dynamic teams

Startupper of the Year Challenge by Total Energies 

This is a program annually run by Total Energies that is open to startups under three years and for project ideas. The program seeks applications from all countries in which Total Energies is situated with three prizes awarded in three categories in each country. These categories are The best business creation project, The best startup under three years old, and the best female entrepreneur. Total Energies is receiving applications until December 23rd, 2021 for this year’s challenge.


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Co-Impact Gender Fund

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This is a funding initiative to accelerate progress towards gender equality and women’s leadership. The fund is set to raise and pump in $1billion in women-led organizations that will contribute to the goal of quality healthcare, education, work opportunities, and community development for over 100 million people globally. Concept notes are to be submitted by 20th December 2021.

D-Prize

This is a funding opportunity for startups and businesses committed to addressing poverty in the world. Business ideas and existent businesses (not older than 18 months and not received over $30,000 funding)  that have proven poverty intervention at scale are urged to apply for the $20,000 to tackle extreme poverty-stricken areas. This year’s application round is closed but will be open in the 2022 Spring season.

TechWomen

This is an opportunity for women with a minimum of two years of experience in the Science, Technology, Engineering, and Math fields to seek for funding to promote STEM among younger girls and women in their home countries. Women from Kenya are eligible to apply for the funding whose application window is open until 5th January 2022.

GSMA Innovation Fund for Climate Resilience and Adaptation

The Fund was launched on 9th November to open an opportunity for digital innovations to address adaptation, anticipation, and absorption of the negative effects of climate change among vulnerable areas around the world. The fund is targeting startups, social enterprises, and SMEs, and Africa is open to taking part. Applications must be submitted by 9th January 2022 and successful applicants will be awarded a grant ranging between 100,000-250,000 pounds to scale their operations.

Solv[ED] Youth Innovation Challenge

The Solv[ED] Youth Innovation Challenge is a window for the youth under twenty-four years of age to submit a tech-based solution that addresses some of their society or community’s most pressing challenges such as poverty, climate change, unstable economies, healthcare, and education access. Applications must be made by 18th January 2022 and successful applicants will be awarded a minimum grant of $5000 each.

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