m:lab, World Bank to support growth-oriented entrepreneurs in East Africa

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The Nairobi-based m:lab East Africa and the World Bank Group have launched Traction Camp, a new initiative aimed at supporting emerging digital and mobile entrepreneurs across the region.

With the support of the World Bank, the Traction Camp programme will allow m:lab East Africa to extend its capacity and service portfolio, ensuring innovative digital products can be developed and scaled into sustainable and profitable businesses.

“Entrepreneurial skills, business acumen, access to networks, and good knowledge of financing mechanisms are critical to scale startups,” said Ganesh Rasagam, manager for innovation and entrepreneurship in the World Bank Group’s Trade & Competitiveness Global Practice.

“Now is the time to seize the moment and help entrepreneurs bridge the gap through increased training and technical support in those areas.”

The first call for applications will be published in the coming days and will stay open until the end of January 2017. The programme will consist of two weeks intensive training followed by up to six months of personalised coaching, tailored to each entrepreneur’s needs.

Participating startups will receive technical assistance to improve their marketability to early-stage financiers, with the curriculum covering key topics such as investment readiness, regulatory environments, and internationalisations.

Disrupt Africa reported earlier this month the World Bank Group is launching a series of accelerator programmes across Africa, aimed at helping tech startups commercialise and scale innovative digital products.  

The first programme launched by the World Bank in Africa is held in partnership with Senegalese hub CTIC Dakar.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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