World Bank’s global innovation and entrepreneurship program infoDev, has joined PIVOT East 2014 as sponsor to help high potential startups and entrepreneurs to grow their businesses.
The partnership between Pivot East and infoDev’ is expected to contribute to the creation of jobs and sustainable economic growth in the region.
infoDev supports growthoriented entrepreneurs through creative and pathbreaking venture enablers such as innovation hubs, incubation centers and other business accelerators. infoDev has been a consistent sponsor of PIVOT East, a mobile startup competition organized by m:lab East Africa since 2011 and also founded m:lab East Africa under its Mobile Innovation Program.m:lab East Africa has invested $120,000 in the past 15 winners of the PIVOT East competition
According to John Kieti Director at m:lab East Africa, “infoDev’s support is a demonstration of their commitment and consistency in contributing to a thriving mobile ecosystem in East Africa.”
PIVOT East is not just a competition but according to past finalists, a platform that challenges them to accelerate and transition their ideas into viable products while providing investor and industry connections for useful growth partnerships. It helps entreprenuers with just ideas to build products and launch them to the market and capital. It’s this objective that drives infoDev to join other PIVOT East sponsors such as Chase Bank, Intel and Samsung.
“m:lab East Africa and Pivot East are flagship activities of infoDev’s Mobile Innovation Program” says Valerie D’Costa, infoDev’s Program Manager. “They demonstrate how mobile technologies have lowered the market barriers for aspiring entrepreneurs and have led to viable companies. We will continue to work with our mLabs around the world as they propel positive, disruptive change.”
Held annually since 2011, Pivot East comprise of a series of activities that culminate in the finalists conference. This year’s finalists conference will be held on the 24th and 25th June 2014 in Nairobi, Kenya after a successful event in Kampala Uganda in 2013.
About 75 mobile startups from across East Africa have participated as finalists of past PIVOT East editions. And 20% of them have cumulatively raised over $4.7million in funding after their participation in the competition.