Incentivise investors to boost start-up funding

The Kenyan start-up and innovation sector is receiving a lot of positive legislative reforms. Last month the Ministry of ICT published a new policy that gave a lot of focus to innovations. The policy set as a priority growth of home grown innovations. As some of the incentives, the policy recognised the need to procure home grown solutions therefore creating demand for local technological solutions.

The policy also recognised the need for innovation funding and highlighted various possible forms of innovation funding. Some include funding for innovators at pre-prototype stage. It has been a huge challenge for this category of innovators to secure funding from financiers due to lack of historical records and collateral. The policy highlights the need to have diversified financing options for innovators.