The ICT Authority, which is managing the project, said Enterprise Kenya's key focus is to introduce innovators to ICT experts and potential customers. It will also give them funding and business training. "We are looking to operationalise Enterprise Kenya. The initiative will provide entrepreneurs with needed support across the innovation value chain from idea to growth to scaling stages. The accelerator will be domiciled at ICT Authority," the chief executive Victor Kyalo said in their October newsletter.
The Enterprise Kenya initiative was conceived in February this year during the Kenya ICT innovation forum held in Nairobi. Its other mandate will be lobbying relevant government agencies to enhance a review of the current procurement law in a bid to give Kenyan ICT businesses more opportunity to supply the government with technology solutions.
According to Kyalo, the state has pledged Ksh1bn seed fund to jump start Enterprise Kenya and additional funds will be injected by the private sector. A board sub-committee, comprising of four members, has been selected and approved and the appointment of the acting head of the EK secretariat, private sector members and chair, working team advisory council and the council of patrons will be complete by December 2015. "Investors will benefit from acquiring equity in the firms under Enterprise Kenya," he said.
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