Kenyan startup, M-Shule, which uses artificial intelligence to deliver personalized education content through SMS and the internet, is set to participate in Seedstars Summit, an annual global seed-stage startup competition planned for Switzerland, for an opportunity to win up to KSh51.8 million in equity investment.
M-Shule emerged the winner in the Kenyan edition of the competition, in which BuuPass, a digital marketplace for bus and train tickets, was named first runners-up. M-Shule will join winners of similar competitions held in more than 75 countries across the world.
Stanbic Bank Kenya has been the main partner for Seedstars World in Kenya for three years running.
Speaking during the event, the Head of Enterprise Banking at Stanbic Bank Kenya, Jeff Alondo, said: “We are delighted to be part of this competition for the third year in a row. As a bank that empowers business people to succeed, we believe this empowerment needs to come in as early as possible in the business cycle and this is why supporting this event is important for us.”
M-Shule and BuuPass were part of a pool of 10 startups that participated in a dynamic pitch at the weekend. The companies selected to pitch at the Seedstars Nairobi event need to be less than 2 years old, have already raised less than USD 500,000 in funding and have built a minimum viable product, ideally with existing traction. The Seedstars World team also searches for the startup’s regional and global scalability.
With a strong network of international partners such as BBVA, Merck, Enel, Trecc and Standard Bank, Seedstars World is looking for smart startups that solve regional issues and develop profitable products for the global market, to support their regional businesses and growth.
“Seedstars World is a platform connecting investors to the next generation of startup entrepreneurs, pulling the spotlight from Silicon Valley and Western Europe. We are impressed by what we have seen in the continent so far and are excited to add startups from Kenya on our map,” explained Anis Kallel, Associate for Africa at Seedstars World.
In line with its mission to place the spotlight on entrepreneurs from emerging markets, Seedstars World is traveling to more than 75 countries this year to identify the best seed-stage entrepreneurs and provide them with an opportunity to win up to US$500,000 and network with investors and mentors from around the world. Its previous participants have raised over US$61 million collectively, providing employment to more than 1000 employees worldwide.