The Nairobi Innovation Week is now open to receive applications from start ups for the 2019 challenge. The innovation event is held every year and ‘brings together global technology industry players and leaders to promote innovation.’ It aims to attract investors and initiate conversations that would lead to funding of promising start ups. The event will be held from 10th – 14th June 2019.
How to participate in the Nairobi Innovation Week #NIW2019
The thematic areas that start-ups that would like to participate in the event is wide. The organisers will be looking at the following areas:
- Agriculture & Food Security
- Health & Life Sciences
- Education & Employability
- Cleantech & Renewable Energy
- Governance & Civic Tech
- Transport & Logistics
- eCommerce & Business Services
- Manufacturing & Processing
- Gaming & Entertainment
- Hardware Innovations
- Innovative Housing
The organisers are targeting two categories of startups:
- Early stage startups which have 100 – 10,000 users and a customer base of 10 – 1000 clients. The start up should also be a legally incorporated company with a team of 2 or more people running its daily affairs, and should be generating revenue of at least USD 1,000 – USD 100,000 pa.
- Growth stage start ups which have 10,000 – 100,000 users and a customer base of between 1,000 – 10,000 people. This category should be generating revenue of USD 100,000 – USD 1,000,000 pa and eligible for Series A Funding.
Series A funding is mainly for businesses that are seeking to scale their product and customer base by attracting at least USD 2 – USD 15 million in funding after establishing a track record of consistent revenue and customer base.
Timelines for the event
Applications for the Nairobi Innovation Week are to be submitted between March 5 – April 5, a month in which contestants will be required to create a profile or update their profile on the NIW website. The selection process will run between April 06 – May 06 where 30 start-ups will be shortlisted. The start-ups will then undergo trainings in workshops that will run between May 06 – May 31 in preparation for pitching during the June event. 6 best start-ups will be feted during the main event.
Participants in the Nairobi Innovation Week will have an opportunity to create more connections of investors, customers, partners, and mentors. They will also learn from their peers and utilize the media coverage to publicise their products.