University of Nairobi set up $1m fund for alumni with startups

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University of Nairobi, Kenya’s largest and best public University by population and ranking has set aside a $1m startup fund for its alumni in a bid to empower its graduates to be employers of labour and not job seekers.

The country’s oldest institution looks to fund every alumni with a business startup, whether in a team or as a sole proprietor. This is according to the Vice-Chancellor of the University, Prof. Peter M.F. Mbithi while speaking at the breakfast of the 2017 Nairobi Innovation Week. He said, “University of Nairobi received Ksh. 100m to support business startups. We have started the startup movement with other partners. We focus on innovations that are human-centered. Our focus is solving problems. University of Nairobi funds all business ideas, especially innovations.”

University of Nairobi

”We began these efforts of promoting Innovation & Enterprise Development in 2015. We are committed to this initiative. Thanks to partners present at  the Nairobi Innovation Week breakfast for expressing interest in partnering with the University of Nairobi to build the Innovation Ecosystem,” the VC said. “SMEs provide employment opportunities to Kenyans.  University of Nairobi is making Innovation Ecosystem a reality in Kenya.”

The VC tasked the crowd on how the University could develop disruptive innovations before its 3rd Nairobi Innovation Week set to be held in the first week of March 2017. Themed “Innovating to solve pressing local and global challenges,” the VC said the Nairobi Innovation Week 2017’s theme is a testimonial to the University’s readiness to innovate beyond borders and shows that it recognizes that local challenges are interlinked with global challenges.

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