The objective is to develop innovative and scalable businesses in which Millicom will take an equity stake.
The incubator, called “think”, will be located in a purpose-built facility in Rwanda’s capital, Kigali. It will be the base from which a small number of high potential entrepreneurs will be selected by a competitive selection process, application details for which will be announced by the local Tigo operation shortly.
Millicom will provide these entrepreneurs with seed financing, structured training and coaching programmes, access to Tigo technical resources for product testing and trials and support in accessing outside investors and customers.
In recent months Tigo in Rwanda has launched the world’s first cross-border mobile money transfer service with integrated currency conversion as well as wifi and mobile payments on local bus services in Kigali. Last year, Tigo passed the two million customers mark having grown by over 25% in 2013 and achieving a 31% market share.
“think” will be launched at an event in Kigali later today attended by Jean-Philbert Nsengimana, Rwanda’s Minister for ICT and Hans-Holger Albrecht, the President and CEO of Millicom.
Commenting on the launch, Hans-Holger Albrecht said “Rwanda is a great place to do business. We know it has some extraordinary local talent whose skills and ingenuity we want to support. We are looking forward to driving the digital revolution with talented youth in all our Tigo operations in Africa.”