An event held by the Kenya ICT Board demonstrated a challenge where ICT entrepreneurs were given the opportunity to present business pitches involving internet technology, development and enterprise to selected venture capitalists and other entrepreneurs.Those with the best ideas stood the opportunity to receive investment and funding for the setup of their IT proposal. The entrepreneurs presented business models on which they were analysed and judged by a select panel.
Venture capitalists and advisors were looking for focused and viable business ideas that have solid plans for revenue and show capability of success as an IT business in Africa at the event and from entrepreneurs. In East Africa internet usage and access is still limited, therefore strategies had to have a global strategy and the panel was seeking individuals to meet their criteria.
The Kenya ICT Board was established in 2007 and together with the Government aims at realising ICT industry that will contribute to the economy and its growth.
“The achievement of an information-based society is one of the main priorities of the Government towards the realization of national development goals and objectives for wealth and employment creation. ICT is one of the fastest growing sectors in the country. Harnessing of ICTs will therefore help the Government to realize a number of its key public policy objectives. In general, ICT will contribute significantly to the process by improving government operations as outlined in the e-government strategy.” Kenya ICT Board
The event was an exciting venture into progress for East Africa and Kenya where the internet is growing and spreading rapidly, as well as a platform and opportunity for financiers and entrepreneurs to meet.
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