Fifteen local business start-ups in the housing sector will next week pitch for a chance to win Sh5 million in funding for their business ideas.
The first of its kind in Africa, the ShelterTech Accelerator Kenya program supports businesses in the housing sector covering renewable energy in homes, waste management, housing & construction technologies and products and water & sanitation.
The 15 businesses were shortlisted from tens of others who applied for the program and have gone through intense training and validation to ensure they are investor ready.
According to Pangea Accelerator Team Lead Anne Lawi, the program was born out of the need to have affordable housing while ensuring key challenges such as high cost of construction due to very high import duties, poor import logistics and an unfavorable tax regime are dealt with.” The purpose of this event is to encourage young and upcoming businesses that they can still be market validated through access to investment opportunities,” said Lawi.
The event will also see Gregory Skowronski, the Director for Global Financial Inclusion & Capital Markets at Habitat for Humanity International and Tom Uhlman, Advisory Board Member for Habitat for Humanity join government representatives from sectorial ministries including the Ministry of Information Communication and Technology (ICT), Ministry of Transport, Infrastructure, Housing & Urban Development and international development bodies alongside private sector attendees to discuss on innovations in affordable housing and the different approaches needed to plug in and support the sector.
Through this, the ShelterTech Accelerator Kenya program not only looks at the culmination of the program but also brings to light discussions on affordable housing and the interventions and innovations needed to achieve this Agenda.