Hindsight Ventures will host the Wazo Challenge, in which ten Kenyan start-up companies will compete against one another for a cash grant of $10,000 and other prizes. The Wazo Challenge is being run by Hindsight Ventures.
The Wazo Challenge is being organized by Hindsight Ventures for the third time this year, however this will be the first time that it is held in Kenya. The program is a four-week venture development bootcamp that is supervised by global mentors and industry partners, and it is intended for Kenyan businesspeople between the ages of 18 and 30 who are in the process of developing a technology-based startup. The program will culminate with an investor demo day.
The chosen firms will each have the opportunity to compete for a grant of $10,000 in US dollars, in addition to gaining access to additional types of support. These companies include the sustainable energy startup Kiri EV, the on-demand warehousing solution Afrigility, the creative marketplace Mawu Africa, the solution for the fresh food supply chain StoFresh Africa, and the digital platform for mental health treatment DoctorsLive.
The list is completed by the companies Chaptr Global, which provides a service for deferred tuition payment, NikoRadius, which is a platform for internet connectivity, Biosorra, which is an agri-tech business, PayClide, and NutriTech, which is a blood monitoring device.
" We consider the Wazo Challenge as a key, base-of-the-pyramid, startup ecosystem facilitator, that helps discover winners at the earliest stage, and supports them all the way through scaling up and fundraising by providing them with our mentorship. According to Ajay Ramasubramaniam, co-founder and CEO of Hindsight Ventures, "Our firms have gone on to secure strategic funding and get into international accelerators, and that's a win for them and for the ecosystem at large."