Managing partner Nissi Madu said iHub Kenya signed up 12 educational technology (EdTech)startups in six months which underwent an acceleration programme to enable them to amplify support around products, talents, distribution and funding.
The fellowship, which was first announced in February this year, went through a rigorous selection process leading to the selection of the firms which met the robust criteria outlined by the Mastercard Foundation and iHub.
The start-ups received $100,000 each (Sh15.3 million) in funding to help drive growth and scale up their business.
Speaking during the Demo Day event for the first cohorts of the Mastercard Foundation EdTech Fellowship Programme, Ms Madu said the successful firms were required to have an i-tech solution which addresses learning challenges or learning gaps from early learning to working skills in formal, informal or corporate world.“They also needed to be at a certain level of revenue attraction and show that they are willing and excited to receive the support needed to amplify and do more than they were already doing and that the solutions can reach a lot more learners across Kenya,” said Madu.
She said the startups were selected from across Kenya and none of them were their portfolio companies.
These start-ups were then inducted into a six-month accelerator programme that started in May. The programme involved advisory support across learning science, investment, product development, financial management, and communication strategy among others.
iHub Kenya, which is based in Nairobi, is a globally recognised innovation centre which has been the main catalyst for regional technology acceleration and a role model for tech hubs in emerging markets since 2010.
