Applications open for ShelterTech Accelerator in Kenya: Offering Investment of Up To US$50,000 in Companies in Renewable Energy, Water, Waste Management and Construction & Housing Finance.
ShelterTech, which has previously run programmes in India and Mexico, is a partnership between Habitat’s Terwilliger Centre for Innovation in Shelter, Pangea and BDO, developed with support from the IKEA Foundation and Hilti Foundation. Businesses that improve access to housing, create affordable housing or improve living conditions in homes are invited to apply for the accelerator, where they will be able to learn from experts and connect with investors and seed funding opportunities. Participating startups will pitch to receive an injection of up to US$50,000 into their business.
ShelterTech Accelerator seeks to support entrepreneurs and established businesses in renewable energy (solar power, clean fuel, cook stoves, etc), waste management, water & sanitation and construction & housing finance. The accelerator programme has 3 tracks, supporting idea-stage entrepreneurs, pre-revenue companies and post-revenue companies.
The different tracks are tailor made to the needs of the different startup stages, with the post revenue track focusing on giving startups the networks and mentorship they need to access financing and scale their operations while the idea-stage entrepreneurs will benefit from capacity-building in creating their businesses.
“We’re taking in startups in different stages of growth. We’re going to have hackathons and venture build while also working with existing companies to help them scale, which is actually our main priority,” said Jonas Tesfu, representing Pangea Accelerator.
“The focus on housing easily excludes the low-income segment of the Kenyan population. We are keen to work with companies that are already innovating products and services targeting these people. Accelerators help build a stronger entrepreneurial ecosystem, especially for sectors that are still nascent, such as affordable housing,” said Jane Otima, market systems associate director at the Terwilliger Centre for Innovation in Shelter.
Applications for the programme are, which will run once a week for six months, are open here until 11.59 p.m. EAT on 21 October 2018.