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Kenyan AI startup Chpter joins Safaricom’s Spark Accelerator

Chpter, a Kenyan startup leveraging artificial intelligence (AI) to revolutionize social commerce, has been selected to join Safaricom‘s Spark Accelerator program. This program, launched in 2024, aims to empower early-stage Kenyan tech ventures with the resources needed to thrive. By joining the Spark Accelerator, Chpter gains access to a valuable network of mentors, potential funding, and crucial go-to-market support.

 

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Chpter’s integration with the Spark Accelerator program presents a significant opportunity for growth. The program offers a comprehensive package of support, including:

  • Mentorship:Chpter will be paired with experienced industry professionals who can offer guidance on product development, business strategy, and navigating the Kenyan tech landscape. This mentorship will be invaluable as Chpter scales its operations and refines its AI-powered solutions.
  • Funding: Safaricom’s Spark Accelerator invests in participating startups through a flexible approach, utilizing debt, equity, or other instruments deemed suitable. This financial injection will allow Chpter to invest in further development, expand its team, and potentially enter new markets.
  • Go-to-Market Support: The Spark Accelerator program provides crucial support in bringing Chpter’s solutions to a wider audience. This may include assistance with marketing campaigns, partnerships with established businesses, and potentially even integration with Safaricom’s vast user base through M-PESA, the leading mobile money platform in East Africa.

Beyond the immediate benefits for Chpter, their inclusion in the Spark Accelerator program sheds light on a specific area of growing interest within the Kenyan tech scene: social commerce. Chpter’s focus lies in automating various aspects of social commerce transactions, including conversations with customers, marketing efforts, and secure payment processing – all within the familiar environment of social media platforms like WhatsApp and Instagram. This allows businesses to streamline their operations, engage more effectively with customers, and ultimately increase sales.

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The Spark Accelerator program itself goes beyond just financial investment. Safaricom has partnered with M-PESA Africa and Sumitomo Corporation to create a holistic support system. M-PESA Africa offers expertise, market research, and insights to help Chpter expand its reach beyond Kenya. Sumitomo Corporation, a Japanese trading giant, brings a wealth of business experience to the table, facilitating innovation and potentially supporting Chpter’s future expansion plans.

Chpter is not alone in this endeavor. The inaugural cohort of the Spark Accelerator program includes eight other promising Kenyan startups. These ventures represent diverse areas within the tech sector, including:

  • Financial Inclusion:Chumz (utilizes gamification and mobile money to promote saving) and Nobuk (streamlines payment collection and reconciliation for groups).
  • SME Productivity Tools: Faidi HR (cloud-based payroll and HR platform), Churpy (automates repetitive financial tasks), and Twiva (social commerce platform leveraging influencers).
  • Other Sectors:HealthX Africa (improves healthcare access), BlackRhino VR (content creation), and VunaPay (facilitates agricultural financing).

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This diverse group signifies the Spark Accelerator program’s commitment to fostering a vibrant Kenyan tech ecosystem. By supporting ventures across various sectors, the program aims to catalyze innovation and address critical needs within the Kenyan economy.

Chpter’s inclusion in Safaricom’s Spark Accelerator program marks a significant milestone for the Kenyan AI startup. The mentorship, funding, and go-to-market support offered by the program will be instrumental in propelling Chpter’s growth and solidifying its position within the burgeoning social commerce landscape. This not only benefits Chpter but also serves as a testament to the growing vibrancy of the Kenyan tech scene. With the Spark Accelerator program fostering innovation across diverse sectors, the future of Kenyan technology appears bright. By harnessing the power of AI and other emerging technologies, Kenyan startups like Chpter have the potential to not only disrupt their local market but also make a significant impact on the global tech landscape.

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