Kenyan innovators shortlisted for prize
Two Kenyans are among 10 people that could walk away with Sh9.3 million in prize money after being shortlisted to take part in the annual Innovation Prize Award gala night. PHOTO | TEA GRAPHIC
What you need to know:
- Mr Alex Mwaura Muriu and Mr Kyai Mullei made the cut out of 925 applications from 41 African countries.
- Mr Mwaura has developed a risk sharing agri-business funding model that draws investors for a share of farming profits.
Two Kenyans are among 10 people that could walk away with Sh9.3 million in prize money after being shortlisted to take part in the annual Innovation Prize Award gala night.
Mr Alex Mwaura Muriu and Mr Kyai Mullei made the cut out of 925 applications from 41 African countries.
Three winners will announced in a ceremony to be held in Skhirat City, Morocco on May 12.
The second outstanding innovation and third winners in the competition will pocket Sh2.3 million each, according African Innovation Foundation Communication Manager Aulora Stally.
BUSINESS MODEL
Ms Stally said the winners would be recognised for their homegrown market driven innovations that contributed to the continent’s growth, development and prosperity.
“Since its inaugural launch in 2011, IPA has gathered a lot of momentum and now recognises talented innovators,” Ms Stally said.
Mr Mwaura has developed a risk sharing agri-business funding model that draws investors for a share of farming profits.
He said the innovation identifies and shortlists full time farmers with small holdings and helps them devise plans to attract investors.
“This is a solution to committed small scale entrepreneurs in the agricultural sector who lack collateral and credit history to access traditional financing,” Mr Mwaura said.
Mr Mullei has developed M-changa, e-Harambee, a mobile application that helps individuals and organisation initiate and manage fundraisings using Short Message Services in an efficient and cost effective way.
