The Swahilipot Hub and 1000 Alternatives announce a long-term partnership and prize
The Swahilipot Hub and 1000 Alternatives are happy to announce a long-term strategic partnership towards spurring profit-driven innovations generating positive social impact.
The MoU signed between the two organizations creates opportunities for collaboration in the identification, nurturing and investing in “lock-step” social enterprises that guarantee social impact by becoming commercially viable and sustainable.
At Swahilipot Hub, the main goal is to help the community develop themselves. Pwani Innovation Week (PIW) is a consolidated effort by Swahilipot Hub and it’s partners to help create a widespread culture of innovation in the coastal counties of Kenya.
As a start, 1000 Alternatives will support a prize to be awarded during the Pwani Innovation Week (PIW), an annual event by the Swahilipot Hub and it’s partners that seeks to create awareness and support for innovations and social enterprises that work for the benefit of the costal counties of Kenya.
PIW 2018 is scheduled to be from the 3rd to the 7th of December 2018 to be held at the Kenyan coastal city of Mombasa. The prize by the 1000 Alternatives is in return for equity for two winning social entrepreneurs among many to be identified through a call for proposals seeking scalable innovations in education and health.
The 2018 prize will be awarded to a winning social enterprise working in the areas of improving education or health in Kenya’s coastal counties and is open to applicants from or operating in the Republic of Kenya.
This year’s prize will be awarded to social enterprises focused on improving the quality of student achievement across the coastal counties using cutting edge and innovative technology-driven pedagogy that can be replicated at scale.
On health, the focus is on technology-driven solutions that provide or complement outpatient and inpatient medical services contributing to better and affordable services in maternal health, child health and chronic illnesses. Ideas sought are those that are early stage, have not received any equity investment yet, have the potential for replicable large scale impact and that can scale for profit.
“We are very excited about this partnership with the Swahilipot Hub. We invest in companies that guarantee sustainable social outcomes by becoming commercially viable and generating profit. This partnership allows us to create an innovation pipeline of profitable social enterprises to invest in, and it gives us the opportunity to do so in a region that is close to our hearts.” said Athman Ali, the CEO 1000 Alternatives.
In return for equity, 1000 Alternatives will provide access to its global advisors, a 4-month incubation programme with the support of EarlyBird, monetary investment and a host of other in-kind investment towards taking the social enterprise to profit and scale.
1000 Alternatives is a social enterprise that invests in lock-step social enterprises in East and West African as well as in Asia focusing on innovations that solve societal problems in education, health, job creation and housing. 1000 Alternatives provides incubation and investment services and helps social enterprises to scale up for profit. Please see www.alternatives.world for further information.
EarlyBird is research based, offering interventions that bring startups to investment quality. EarlyBird occupies the space between Venture Capital and Entrepreneurs at the very early stage of company formation providing the necessary ingredients that create opportunity for investment. Early Bird has partnered with 100 Alternatives to invest resources, human capital, funds and a variety of technical assistance to the Pwani Innovation Week winners selected. Please see www.earlybird.co.ke for further information.
Swahilipot Hub is a community of artists and technologists in Mombasa. Swahilipot Hub’s goal is to help the community develop themselves. What this means concretely is that Swahilipot Hub aims to help the community grow and become more mature, advanced, or elaborate in their skills, character or with their ideas. Please see www.swahilipothub.co.ke for further information.