National Bank of Kenya (NBK) has partnered with Growth Match Africa and UK Kenya Tech Hub to launch a mentorship program dubbed “StartUp & Chill.
The program seeks to pair startups with strong mentors and advisors that have a significant domain, technical or business expertise in their respective field of business to help them realize growth.
In the program, the advisor profiles created by Growth Match are shared with the startups who choose which advisors they want to work with for long-term partnership based on the need in areas including sales and marketing, product development, Finance & Funding as well as Standard Operating Procedures. The program ensures budding entrepreneurs are oriented toward sustainability, bankability and growth.
Mr Fred Kioko the Head of Change and Integration at NBK, had this to say, “This strategic partnership will enable startups in various sectors to remove growth barriers by providing tools to identify gaps and growth areas in their businesses and therefore, scale up. With the advisors that we have, we are hoping that by the time we are done, the signed startups will be well equipped and empowered to adequately offer their services efficiently.”
The UK Kenya Tech Hub Country Director, Sheena Raikundalia noted that they are excited to support the program. “It’s a win for both startups and advisors. Startups get access to talented experts in Kenya and advisors to see what innovators are doing, and how they will disrupt and create Kenya’s future jobs.’’
According to a Forbes 2019 report, 90% of startups fail due to poor management, leadership and internal processes. The program, therefore, seeks to prepare, nurture and grow startups to grow, be competitive and take full advantage of available markets.