TECHNOLOGY

New program to support tech scaleups with capital and expansion

The Tech scaleups will gain capital, support and networks via COSSA Program

In Summary

•Speaking at the launch, Investment, Trade, and Industry Cabinet Secretary Rebecca Miano said that that Kenya ranked third globally for FDIs in 2024.

•Upon completing COSSA, participating scale ups will have the opportunity to pitch to a wider investor audience.

Investment, Trade and Industry Cabinet secretary Rebecca Miano cuts a ribbon during the launch Chanzo Onespace Startup and Scaleup Accelerator program. Looking on are Special Economic Zone Authory CEO Kenneth Chelule, Group CEO Centum Investment James Mworia, Trific CEO Brenda Mbathi and SEZA board chairperson Fred Muteti
Investment, Trade and Industry Cabinet secretary Rebecca Miano cuts a ribbon during the launch Chanzo Onespace Startup and Scaleup Accelerator program. Looking on are Special Economic Zone Authory CEO Kenneth Chelule, Group CEO Centum Investment James Mworia, Trific CEO Brenda Mbathi and SEZA board chairperson Fred Muteti

In an effort to foster tech innovation and expansion across Africa, the Two Rivers International Finance and Innovation Centre SEZ (TRIFIC SEZ), Onespace and Chanzo Capital have launched the Chanzo Onespace  Startup and Scaleup Accelerator (COSSA).

The COSSA program aims to support tech ventures poised to scale from their home countries into new markets.

Leveraging the strategic incentives and supportive environment of Two Rivers Special Economic Zone, alongside facilities provided by Onespace, and funding from Chanzo Capital's Kings fund, the program targets startups ready to capitalise on opportunities across Kenya, Ivory Coast, Nigeria, Ghana, and South Africa.

Speaking at the launch, Investment, Trade, and Industry Cabinet Secretary Rebecca Miano said that that Kenya ranked third globally for FDIs in 2024.

"As we position Kenya as a hub for innovation, our ministry stands ready to invest in our country's innovative youth," CS Miano affirmed.

Beyond capital investment, COSSA will offer capacity building for its participants and facilitate connections within the business communities of target expansion markets.

The program is a collaborative effort among leading African institutions, aimed at addressing the challenges African businesses face when expanding across the continent, leveraging the African Continental Free Trade Area (AfCTA) to foster the growth of Pan-African corporations.

Chanzo Capital will also host the eleventh edition of its Angel Fair Africa in Nairobi from November 7th to 8th, 2024.

Upon completing COSSA, participating scale ups will have the opportunity to pitch to a wider investor audience.

The inaugural cohort includes Kenyan companies SaveApp, At Large Innovation (ThryvCapital Partners LLP), and CheckUPS COVA, all poised to expand regionally and beyond.

Onespace CEO Ian Kabiru, noted their extensive experience in supporting African and international businesses, ensuring COSSA participants receive tailored support to focus on their core operations.

James Mworia, CEO of Centum, sais The launch marks a significant step towards accelerating tech-driven economic growth and fostering cross-border collaboration within Africa's innovation ecosystem.

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