{"id":43411,"date":"2020-09-18T10:21:15","date_gmt":"2020-09-18T10:21:15","guid":{"rendered":"https:\/\/southafricaportal.com\/?p=43411"},"modified":"2023-05-17T07:30:19","modified_gmt":"2023-05-17T07:30:19","slug":"safaricom-spark-fund","status":"publish","type":"post","link":"https:\/\/southafricaportal.com\/safaricom-spark-fund\/","title":{"rendered":"Safaricom Spark Fund | How To Apply"},"content":{"rendered":"<p><strong>The Safaricom Spark Fund application form | How to apply.<\/strong><\/p>\n<p>Below, are the details on The Safaricom Spark Fund 2020\/2021 for tech start-ups in Kenya application form, requirements, eligibility,\u00a0 qualifications needed, application guidelines, application deadline, how to apply, closing date, and other opportunities links for South Africans is published here on <strong><span style=\"color: #0000ff;\"><a style=\"color: #0000ff;\" href=\"https:\/\/southafricaportal.com\">Southafricaportal.com<\/a><\/span><\/strong> as well as on the official website\/application portal.<\/p>\n<h2><strong>Safaricom Spark Fund<\/strong><\/h2>\n<p>The <strong>Safaricom Spark Fund application details<\/strong> have been published here. All Eligible and Interested applicants may apply online for this opportunity before the application deadline-closing date.<\/p>\n<p><em><strong>NOTE:<\/strong><\/em><\/p>\n<ul>\n<li>Don\u2019t forget that\u00a0<b>Safaricom Spark Fund<\/b> application is totally free of charge<\/li>\n<li>Don\u2019t send anyone money for this opportunity.<\/li>\n<li>Beware of Fraudsters!!!!<\/li>\n<li>Subscribe to our notification list with your email to receive the Latest Opportunities Update.<\/li>\n<\/ul>\n<h2><strong>Details of Safaricom Spark Fund<\/strong><\/h2>\n<p>Application Deadline:Ongoing<\/p>\n<p>n 2014, Safaricom started the first Corporate Venture Fund in East Africa \u2013 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\u2019s unique capabilities, assets and market positioning. The amount was subsequently fully invested into 6 mobile technology start-ups in Kenya:\u00a0<a href=\"https:\/\/www.sendyit.com\/\">Sendy<\/a>,\u00a0<a href=\"https:\/\/lynk.co.ke\/\">Lynk<\/a>,\u00a0<a href=\"https:\/\/ajua.com\/\">Ajua<\/a>,\u00a0<a href=\"https:\/\/enezaeducation.com\/\">Eneza<\/a>,\u00a0<a href=\"https:\/\/iprocu.re\/\">iProcure<\/a>\u00a0and\u00a0<a href=\"https:\/\/farmdrive.co.ke\/\">Farmdrive<\/a>.<\/p>\n<p>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\u2019s purpose.<\/p>\n<p>The new allocation will go a long way in supporting the successful development and growth of high potential tech start-ups in Kenya.<\/p>\n<p>The fund will support start-ups through a combination of investment, business development support and technical assistance leveraging on Safaricom\u2019s unique capabilities, assets and market positioning.<\/p>\n<p>We are keen to support tech companies that align with Safaricom\u2019s long term corporate vision in Education, Healthcare and Agriculture. Start-ups in other categories of strategic importance and being complementary to Safaricom\u2019s offering will also be considered<\/p>\n<p>The start-ups will be identified and selected by a fund manager (S&amp;B ventures) and upon completion of due diligence process be presented to the Investment Committee and Board of Trustees for funding consideration.<\/p>\n<p>Following investment approval, the funds will be disbursed, where Safaricom will appoint an internal deal team to provide post investment support<\/p>\n<h2>The Safaricom Spark Fund Objective<\/h2>\n<p>Grow a portfolio of strategically-aligned tech-enabled start-ups for deeper commercial partnership and\/or acquisition by Safaricom whilst Transforming Lives<\/p>\n<h2>Selection criteria<\/h2>\n<p>The fund will be made available to tech-enabled start-ups as an enabler in the below verticals;<\/p>\n<ul>\n<li>Agriculture<\/li>\n<li>Education<\/li>\n<li>Healthcare<\/li>\n<\/ul>\n<p>From time to time start-ups in other categories of strategic importance and being complementary to Safaricom\u2019s purpose will also be considered.<\/p>\n<p>Investees will have the following characteristics;<\/p>\n<p><strong>\u00a0Required<\/strong><\/p>\n<ul>\n<li>Kenyan presence<\/li>\n<li>A Core diverse skilled team<\/li>\n<li>Refined Working mobile based product\/service<\/li>\n<li>Commercially viable business model<\/li>\n<li>Active user base<\/li>\n<li>Generating revenues<\/li>\n<li>Partnership with Safaricom signed or being discussed<\/li>\n<li>Raising equity or quasi equity<\/li>\n<\/ul>\n<p><strong>Application process<\/strong><\/p>\n<p>The Fund Manager is S&amp;B Ventures, based in Kenya, who will source deals, perform due diligence and recommend the investments.<\/p>\n<p><a href=\"https:\/\/www.safaricom.co.ke\/images\/Downloads\/Terms_and_Conditions\/Safaricom_Spark_Fund_Terms_and_Conditions.pdf\" target=\"_blank\" rel=\"noreferrer noopener\">Terms &amp; Conditions<\/a><\/p>\n<p><a href=\"https:\/\/www.safaricom.co.ke\/faqs\/faq\/757\" target=\"_blank\" rel=\"noreferrer noopener\">Spark Fund FAQs<\/a><\/p>\n<h2>Contact Us<\/h2>\n<p>S&amp;B Ventures<br \/>\nEmail:\u00a0<a href=\"mailto:spark@africatechventures.co\">spark@africatechventures.co<\/a><\/p>\n<p>For More Information:<\/p>\n<p><a href=\"https:\/\/www.safaricom.co.ke\/about\/innovation\/social-innovation\/spark-fund\" target=\"_blank\" rel=\"noreferrer noopener\">Visit the Official Webpage of the Safaricom Spark Fund 2020<\/a><\/p>\n<p>However, if you have any Feeling regarding the\u00a0<strong><b>Safaricom Spark Fund<\/b><\/strong><strong>,\u00a0<\/strong>Please kindly DROP A COMMENT below and we will respond to it as soon as possible.<\/p>\n<p><strong>Please help others by sharing this post on any social media.<\/strong><\/p>\n<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><div class=\"aa-end\"><\/div>","protected":false},"excerpt":{"rendered":"<p>The Safaricom Spark Fund application form | How to apply. &hellip; <\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[13],"tags":[94459],"class_list":["post-43411","post","type-post","status-publish","format-standard","hentry","category-opportunities","tag-safaricom-spark-fund"],"jetpack_publicize_connections":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.5 - 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