Nailab – a Kenya-based tech incubation center launches

In a bid to encourage more innovation and entrepreneurship in Kenya, the government has partnered with a local business incubator, Nailab to launch a KSh 140 million (US$1.6 million) technology incubation center. This a day after the launch of Konza technology city – which will be the country’s equivalent of the Silicon Valley.

The incubation center will be used to support IT startups right across Kenya.

Nailab founder, Sam Gichuru, that the partnership with the government would boost investment and support for more ICT companies and would increase the level of innovation in the industry.

Business incubation provides entrepreneurs with access to critical information, education, contacts, capital and other resources crucial to the growth of ventures that may otherwise be inaccessible or unknown.

Nailab focuses on early stage business ideas that are likely to have a large social and economic impact, are highly scalable, require minimum investments to prototype, and have a strong value proposition.

Source: Ventures Africa