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The Nairobi Innovation Week (NIW) organizing committee recently announce that they have partnered with the African Development Bank (AfDB); to run a joint startup challenge.
The competition, dubbed High 5s Startup Challenge will focus on the Bank’s High 5 priorities. AfDB set up the High 5s priorities in 2015; to focus on advancing Africa’s transformative agenda over the next 10 years.
“Any startup from Kenya, Uganda, Tanzania, Rwanda, Burundi and Ethiopia is eligible to apply. The startup should however focus on at least one of the 5 thematic areas of the banks five priorities,” NIW organizing committee noted via a press statement.
The 5 thematic areas of focus are:
- Light up and power Africa
- Feed Africa
- Industrialize Africa
- Integrate Africa
- Improve the quality of life for the people of Africa.
“NIW and AfDB encourage Startups with an inclination towards energy production and distribution to apply; since they focus on the High 5s. Startups in sustainable food production and agri-business fall under Feed Africa pillar with others in industrialization and mobility of people falling under Industrialize and Integrate Africa respectively. Lastly, startups that empower the community will fall under the Improve the quality of life for the people of Africa pillar,” the committee added.
NIW and AfDB will award the top five Startups from the High 5s Startup Challenge, with:
- a cash prize of upto USD 1000;
- Travel costs to attend the NIW 2018 (a round trip economy class ticket) and accommodation if coming from outside Kenya will be catered for;
- A placard in recognition of the innovation will be awarded.Opportunity to exhibit the innovation at the NIW2018 at the exhibition booths;
- Opportunity to meet and interact with the Director General AfDB, East Africa Regional Development and business-orientedness Delivery Office.