Nairobi’s Business Daily has reported that a Kenyan technology start-up incubator, Nairobi incubation Labs (NaiLabs) is due to be launched in May this year. Kenya has in the past few years attracted the attention of start-up investors seeking out talent and ideas to invest in.
NaiLabs is Kenya’s fourth technology start-up incubator in just 2 years. Existing incubators are FabLab, Strathmore University’s iLab Africa, and the widely known iHub.
Incubators are programs that nurture start-up companies whose ideas and teams show potential to succeed. They usually provide business mentoring, access to funding, some office space, internet bandwidth and other assistance needed by the early-stage businesses.
According to the report, NaiLabs will provide fast Internet connections with focus on Web, mobile and social media solutions. NaiLabs will cater for 100 startups per given period and of those the most promising 10 will be incubated at the NaiLabs facilities.
NaiLabs has partnered with One Percent Club, a financing organisation whose stated objective is to connect “smart development projects with people, money and knowledge around the world”. Each startup will get funding of up to 500,000 Kenyan Shillings, the equivalent of about US $ 5,800 according to current exchange rates.
Commenting on the assistance to be provided to startups, a NaiLabs representative, Mr. Mwangi said:
Our model is not offering space for rental purposes, but we partner with developers and share the revenues after it becomes successful. We will sit on the management teams of the start-ups and literally hold their hands every step of the way
The NaiLab announcement comes just days after Google Africa announced the launch of a technology start-up incubator in South Africa.
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5 comments
Yeah, at times like this one wishes he was Kenyan, or Mostwan since they also have their Botswana Innovation Hubs. Our Techno Park at Nust has been rotting, guzzling taxpayers money and starting up nothing significant. I only wish..
Wish I was in Kenya, Uganda, SA, Bots but hey for now I just have to work with what is there
i’m assuming when you say you wish you were in Kenya et al, you are implying that you have ideas. Question though is are you working on developing your ideas with what you have at the moment?
What would also be useful particularly if you are a developer/engineer is to get connected and you used one of the social media sign on methods maybe we can all link up
Hi, I just stumbled on this article, I happen to be the director and one of the co-founders of nailab, 1. you dont have to be in Kenya to innovate or even to work with the Nailab, what you need is good ideas and the drive to make them happen, Kenya might just come to you.
nb: the article is wrong on financing and the nailab business model and this will be corrected on our website http://www.nailab.co.ke
Hi Sam,
Thanks for the response to some of the comments. Kindly provide the correct position on Nailabs business model & financing so we can update the article with the accurate information.