Sinapis has awarded Ksh 2 million to two entrepreneurs during their annual business plan competition held in Nairobi. The two, Boaz Katah, the founder of Tumoi Tea (www.tumoiteas.co.ke), a specialty tea processor from Nandi County and Cherie Kihato, the founder of Savannah Space (www.savannahspace.com), a route to market start-up for informal sector artisans.
Sinapis business plan competition had 8 entrepreneurs and the two beat the other 6 finalists to bag 2019 grant prizes.
According to Sinapis Kenya Country Manager Silvya Kananu, “Entrepreneurs have the greatest potential to contribute to economic development through wealth and job creation. Beyond business skills training, we help the entrepreneurs get investor-ready, with an aim to attract growth capital in 3-5 years.”
Now on the 6th edition, the competition is preceded by a 16 weeks mini MBA training program mirrored on Texas-based Acton School of Business MBA program and blended with practical business insights. The executive-level business training helps the entrepreneurs to structure and grow to the next level and create a sustainable social-economic impact to the society. Started in 2011 in Kenya, Sinapis Organisation has grown to over 7 countries with 4,000+ entrepreneurs trained through structured programs and workshops and over Ksh.2.4 billion raised in capital.
Speaking during the award ceremony on behalf of judges Ronald Osumba, CEO IGOV Africa Said, “Technical assistance and technology are key for fast-tracking the growth of SMEs to grow our economy and impact communities. Further, entrepreneurs need to align their passions with the required skills to convert ideas to fully structures businesses.”
Capacity development, alongside access to capital and a conducive business environment, plays a critical role to empower SMEs to play their role in driving the economy, as 67 -80% of new jobs are expected to be created by SMEs. Sinapis Organisation aims to partner with government, non-government and business membership organizations to develop sector-specific training modules that will fastrack towards achieving the targeted 10,000 SMEs trained by 2022.
Sinapis empowers entrepreneurs professionally and spiritually using training and a global support network so they can grow to the next level and transform the world around them.
The firm says its passion is small and growing businesses (SGBs) typically with 5 to 250 employees. These companies fuel the economy and account for 67-80% of new job growth. Their success goes far beyond the entrepreneur and brings employment and dignity to their community.
Sinapis began in 2010 as a Kenyan startup accelerator and has grown into a global entrepreneurial ecosystem of over 1,000 alumni. Sinapis helps entrepreneurs grow from seed stage to maturity and influence their communities in the process.
Sinapis hosts programs in Kenya, Uganda and is expanding its programs into new markets like Brazil, Ghana, Rwanda, and Liberia.