The UK has launched the second round of a business innovation challenge fund that will see an additional five promising businesses receive grant funding and technical assistance of up to US$128,309 each
The call for proposals will seek to support initiatives that are innovative, sustainable and with the potential to stimulate job creation. The funding made available through the Kenya Catalytic Jobs Fund will focus on three thematic areas: agriculture and manufacturing; the informal sector; and people in marginalised groups and areas.
The first call for proposals was launched in April 2019 and saw five successful businesses receive awards, namely: TakaTaka Solutions; Ten Senses Africa; Lynk Jobs Limited; Savanna Circuit Technologies Limited; and BuildHer.
Supported by UKAid, the Kenya Catalytic Jobs Fund is a US$641mn, four-year programme, which tests and support innovations with the potential to stimulate large-scale job creation.
The programme is part of the UK Department for International Development’s broader economic development portfolio in Kenya which: promotes greater private investment including for the poorer regions; invests in better-planned urbanisation to expand access to economic opportunities; brings down the barriers and cost of trade; helps Kenyan firms grow their export markets.
Julius Court, the Head of DFID Kenya, said, “The UK is delighted to be part of efforts to tackle such constraints and promote the growth of the private sector in a way that creates opportunities for youth. We are listening when Kenyans tell the world they want mutually beneficial partnerships that move beyond aid and attract quality investment and create millions of jobs.”
The second call for proposals will close on March 15th, 2020.