The Safaricom Spark Fund | How to Apply

Filed in Opportunities by on September 18, 2020 0 Comments

Safaricom Spark Fund application form.

The Safaricom Spark Fund 2020/21 for tech start-ups in Kenya
Online application portal, requirements, eligibility, application guidelines, application deadline, how to apply online, closing date, and other opportunities links are published here on Eduloaded.com as well as on the official website/application portal.

Safaricom Spark Fund Application Instruction.

  • Don’t forget that the Safaricom Spark Fund application is totally free of charge.
  • Don’t send anyone money for this opportunity.
  • Beware of Fraudsters!!!!
  • Subscribe to our notification list with your email to receive the Latest Opportunities Update.

Details of Safaricom Spark Fund.

Application Deadline:Ongoing

Safaricom started the first Corporate Venture Fund in East Africa – the Spark Venture Fund.

This was a USD 1 million fund that supported the successful development and growth of high potential mobile tech start-ups in Kenya through a combination of investment, business development support and technical assistance leveraging on Safaricom’s unique capabilities, assets and market positioning. The amount was subsequently fully invested into 6 mobile technology start-ups in Kenya: SendyLynkAjuaEnezaiProcure and Farmdrive.

In 2020, Safaricom allocated an additional $5 million to the fund to invest up to $500, 000 into tech-enabled start-ups that are strategically aligned with Safaricom’s purpose.

The new allocation will go a long way in supporting the successful development and growth of high potential tech start-ups in Kenya.

The fund will support start-ups through a combination of investment, business development support and technical assistance leveraging on Safaricom’s unique capabilities, assets and market positioning.

We are keen to support tech companies that align with Safaricom’s long term corporate vision in Education, Healthcare and Agriculture. Start-ups in other categories of strategic importance and being complementary to Safaricom’s offering will also be considered

The start-ups will be identified and selected by a fund manager (S&B ventures) and upon completion of due diligence process be presented to the Investment Committee and Board of Trustees for funding consideration.

Following investment approval, the funds will be disbursed, where Safaricom will appoint an internal deal team to provide post investment support

The Safaricom Spark Fund Objective

Grow a portfolio of strategically-aligned tech-enabled start-ups for deeper commercial partnership and/or acquisition by Safaricom whilst Transforming Lives

Selection criteria

The fund will be made available to tech-enabled start-ups as an enabler in the below verticals;

  • Agriculture
  • Education
  • Healthcare

From time to time start-ups in other categories of strategic importance and being complementary to Safaricom’s purpose will also be considered.

Investees will have the following characteristics;

 Required

  • Kenyan presence
  • A Core diverse skilled team
  • Refined Working mobile based product/service
  • Commercially viable business model
  • Active user base
  • Generating revenues
  • Partnership with Safaricom signed or being discussed
  • Raising equity or quasi equity

Application process

The Fund Manager is S&B Ventures, based in Kenya, who will source deals, perform due diligence and recommend the investments.

Terms & Conditions

Spark Fund FAQs

Contact Us

S&B Ventures
Email: [email protected]

For More Information:

Visit the Official Webpage of the Safaricom Spark Fund 2020

However, if you have any feelings regarding the Safaricom Spark FundPlease kindly drop A COMMENT below and we will respond to it as soon as possible.

BE SOCIAL BY SHARING THIS POST WITH OTHERS!!

Tags: ,

Leave a Reply

Your email address will not be published.