86 Kenyan Startups Presented Their Ideas for Funding and Technical Assistance in the Presidential Innovation Challenge

86 Kenyan startups presented their ideas and innovative products and services for funding during the Presidential Innovation Challenge held recently. The Presidential Innovation Challenge is a funding and technical assistance programme run by the Kenya National Innovation Agency (KeNIA), headed by President William Ruto. It is to promote Kenya’s startup ecosystem and make a significant impact in the country’s major national challenges like agriculture, health care, digital transformation and climate change.

During a weeklong contest held on Monday in Nakuru County, these 86 Kenyan startups were able to present their ideas on a stage for funding and technical assistance, putting them ahead of thousands of other ambitious startups working on similar projects to solve the country’s pressing social issues. The weekly competition is part of a wider mission in Kenya to foster entrepreneurial spirit and boost economic growth through innovative solutions for social issues such as education and health.

Presidential Innovation Challenge The goal of Presidential Innovation Challenge is to support startups that are at all stages of development, from ideation to early phase and even scaling up. Selected startups in this edition will be awarded de-risking grants up to KES 5 million (around $40, 000). In addition to financial assistance, selected startups will benefit from access to incubation and acceleration programs, networking opportunities with prominent investors, and opportunities to showcase their innovation at major events like Kenya Innovation Week.

86 kenyan startups present ideas for funding

KeNIA CEO Dr Tonny Omwansa said the program is also for a “special purpose” as it offers “a platform to support the ecosystem for effective commercialisation and investment of promising innovations”, adding that by offering funding alongside support from mentors the programme was looking to turn promising ideas into viable businesses that would contribute positively to Kenya’s economy.

This year the Presidential Innovation Challenge focused on the pressing needs of Kenya, such as food security, affordable healthcare, digital transformation, entertainment, gaming and green energy. These areas are selected based on the national priorities of Kenya and are expected to create sustainable solutions to some of the country’s most critical issues.

The Presidential Innovation Challenge is part of President Ruto’s agenda as a government to help young innovators in his country under the Bottom-Up Economic Transformation Agenda. Bottom Up seeks to create an opportunity for young people through promoting entrepreneurialism and innovation. At previous award ceremonies under this agenda, President Ruto has emphasized the need to encourage startups as engines of job creation and economic prosperity.

We are all at the beginning of this competition, the waiting list began in August 2023 when more than 284 startups submitted their ideas. At first there was a very difficult process when 219 startups were shortlisted in November before being eventually shortened to 86 startups that did pitch in this event. The winners of this competition will not only receive grants but will also join a Presidential Accelerator Program to grow their businesses further.

This is another step in the government’s efforts to help foster innovation in Kenya. With this support of these 86 Kenyan startups that presented their ideas for funding through the Presidential Innovation Challenge, KeNIA is working to help create new opportunities for entrepreneurs and empower them with solutions to some of Kenya’s biggest challenges. It’s going to play a pivotal role in making Kenya a centre for innovation and economic growth.

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