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Kenyan, South African Startups to Compete For The Global US$1 Million MIT Innovation Challenge

Kenyan, South African Startups to Compete For US$1 Million MIT Innovation Challenge

Global News

Kenyan, South African Startups to Compete For The Global US$1 Million MIT Innovation Challenge

3 Kenyan startups have been chosen to represent Africa at the Inclusive Innovation Challenge (IIC), a Massachusetts Institute of Technology (MIT) sponsored initiative. 

The 3 startups, Wefarm, Lynk and Solar Freeze will join South African startup, Wala and compete against their global counterparts for over US$1 million in prizes at the final event in the US on the 8th November 2018.

Wefarm is a free, digital, peer-to-peer knowledge sharing network available by SMS for the world’s 500 million small-scale farmers who have no internet.

Lynk is a technology platform for informal workers; they build the ‘entrepreneurship infrastructure’ to support growth in incomes and careers.

Solar Freeze is a one-stop, turnkey portable off-grid toolkit for localized food production containing a complete ecosystem of smart farm technologies to enhance agricultural productivity.

Wala is a blockchain-powered financial services platform that allows you to freely send money and transact and deposit/withdraw at stores.

Read: Nigeria’s Paga Takes on M-Pesa and PayPal With US$10 Million Funding Led By Global Innovation Fund

All four startups will receive an all-expenses-paid trip to MIT and join twenty other regional winners from Europe, Asia, Latin America, and North America at the final round of the global tournament on November 8 at MIT.

The Inclusive Innovation Challenge (IIC) is the flagship initiative of the MIT Initiative on the Digital Economy (IDE) that supports entrepreneurs by recognizing and rewarding their technological solutions that are creating greater shared prosperity today and driving the growing global movement of entrepreneurs focused on creating viable, scalable solutions that generate valuable jobs.

To date, US$2 million has been awarded to entrepreneurs and innovators since its inception and 40 entrepreneurs have been celebrated and rewarded at gala celebrations.

Past winners from Africa include Soko and Tala.

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