Application Deadline: August 27 2014
The Mobile Impact Ventures Program (“MIVP”), m:lab East Africa’s accelerator program for impact ventures with innovative solutions in agriculture, health & water and education, is currently seeking applications for its second cohort. The m:lab’s accelerator is backed by the Rockefeller and Tony Elumelu Foundation’s, through the Global Impact Investment Network’s (“GIIN”) Africa Impact Economy Innovations Fund (“IEIF”).
The 3 month program supports startups in scaling their business through a tailor made acceleration process designed to facilitate the improvement of: business model, technology, customer discovery and potential for raising funding. This is delivered via intensive business masters classes, coaching with business experts and mentoring with sector specialists.
Who should apply?
- If you are an early stage startup with a mobile solution for a challenge faced in the agriculture, health & water or education sectors, this program is designed for you.
- Startups are required to have at least one team member with experience or educational background in software programming and at least one team member with a background in business or experience pursuing a business venture. In addition, having a team member with has prior experience in the designated sector (i.e. agriculture, health & water and education) is an advantage.
The Mobile Impact Ventures Program offers services valued at over $15,000 USD in return for equity of 3%, the services include:
- Business coaching sessions with startup specialists including a business model assessment,
- Multiple sessions with sector specialist mentors,
- Modular and dynamic training workshops on entrepreneurship and technology skill for mobile impact ventures based on needs assessment.
- Tailored technology coaching to the needs of your business based on technical needs assessment,
- Shared coworking space in the m:lab for the duration of the program
- Access to legal and financial advisory services on an as needed basis
- Access to the product testing lab in the m:lab including phones across all major operating systems,
- Up To $1,000 worth of hosting credit per month with SoftLayer for 1 year,
- UX and graphic design services including a design of a professional logo and presentation template, user interface designs and graphic mockups (e.g. template with HTML5, CSS & Graphic elements) as well as consultation for setting up a usability session.
- A commitment fee of Kshs 7,000 will be required from the social ventures that get admitted to the program. Kshs 5,000 of the commitment fee will be refundable upon the venture’s completion of program milestones.
- The program will require the entrepreneurs involved to “Get out of the building” and interact with potential users, customers or partners for insights.
- Participants will therefore spend much time in the field undertaking experiments to validate their business models and to grow their revenue potential.
- Startups who complete this three month program will also pitch for cash funding of $5,000, awarded to winning 2 startups in the cohort.
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