The award, endowed by the Rockefeller Foundation and the Tony Elumelu Foundation, reflects a growing interest by development organizations in supporting ventures that aim to improve the wellbeing of people and communities in a sustainable way.
“As it is,” said m:lab East Africa CEO John Kieti, “we see many impact investors in our ecosystem that are not seeing enough investable startups pursuing social or impact driven goals.”
To change this, the m:lab has used the grant to launch the Mobile Impact Ventures Program (MIVP) to identify and support social and impact mobile enterprises. The program will bring selected ventures in contact with customers, coaches, mentors, trainers, and domain experts over a period of three months.
Applications for the program are open to teams of two or three people; the deadline is February 28.