Local firms Wefarm, Lynk and Solar Freeze are gunning for a share of a Sh160 million prize set for November 8 at the Massachusetts Institute of Technology (MIT)-sponsored Inclusive Innovation Challenge (IIC) in America. The three, together with Wala (South Africa), were recognised for formulating online platforms that uplift users’ lives economically under the Global Economic Prize.
Directors of the firms were granted an all-expenses paid trip to MIT for the global event. They will enjoy a sponsored trip to Angel Fair Africa in Mozambique where they will pitch their products to 60 Africa-focused investors. Four winners, chosen from 20 teams, will take home Sh25 million each.
Lynk is a platform that helps informal workers search for jobs, while Wefarm builds an online database for gauging small-scale farmers’ creditworthiness, helping them access credit in the process.
Solar Freeze’s post-harvest skills help farmers to avert losses while Wala is a blockchain-based free App that assists the poor access financial services.