Nairobi — American technology investors are in the country scouting for new companies with entrepreneurial expertise to invest in.
The owners of the San Francisco-based I/O Ventures, Jawed Karim, Russel Simmons, Paul Bragel and Mbwana Alliy, say they are looking for start-ups with the best ideas.
Based on their experience of incubating start-up entrepreneurs, the investors said they will form partnerships with other companies, the government through the Kenyan ICT Board and universities to establish a mentorship model for linking Silicon Valley in the US and East African countries.
These are the big guy's in e-business. I am so happy to see that they have some interest in Kenya. How I wish they could introduce the Paypal in the m-pesa network, or rather prompt the mobile providers in Kenya show interest in paypal. With billions of remittances from overseas I cant believe until now no mobile network in Kenya has shown interest. I bet watch this space!!
This development community represents an opportunity for investors looking to get into successful ventures early. IPO48.org, a bootcamp and competition for tech start-ups, is a good example of investors bringing both the finances and coaching needed by Kenyan ICT entrepreneurs.
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