|The winners will also receive $2000 each in seed funding, with the chance to secure additional funding upon completion of the program|
DAKAR, Senegal, January 3, 2019/ — Five young Senegalese entrepreneurs have been selected to receive six months of business incubation and $2,000 seed-funding to kick-start their business. The Senegal Start-Up Accelerator, run by Kosmos Innovation Center (www.KosmosInnovationCenter.com) and Reach for Change (africa.ReachforChange.org), has been looking for young Senegalese entrepreneurs with innovative ideas that could tackle the challenges facing the agriculture sector through technology to join its program for the last two months.
The Senegal Start-Up Accelerator is designed to support innovators in the fishing and agricultural sectors to develop their commercial solutions and maximize their impact, helping them to navigate the early stages of business growth. Over the course of six months, the program will provide the five winners with intensive and expert individual and group training, organized visits to established businesses for market research and professional mentoring. The winners will also receive $2000 each in seed funding, with the chance to secure additional funding upon completion of the program.
The five entrepreneurs selected to join the accelerator have successfully completed an extensive screening process, including interviews and background checks, an assessment panel and an intensive two day bootcamp. This bootcamp culminated in a pitch before a jury panel with judges from Reach for Change, Kosmos Energy and prominent experts from the agricultural and fishing industries in Senegal.
Mamadou Mar Faye, External Affairs and CSR Manager, Kosmos Energy said:
“Through this accelerator program, we’re delighted to do our part to ensure young, promising entrepreneurs have the skills and support needed to help turn their innovative business ideas into reality. Each winner will be guided through the process of developing a product that is ready for market and meets a real market need, contributing to the creation of a healthy and competitive agricultural sector in Senegal. Look out for five exciting new products coming to the market in just six months’ time!”
The five winning entrepreneurs are Mouhamadou Lamine Kebe of Tool Bi whose innovation works to facilitate irrigation with an electronic innovation and improve agricultural yields; Mame Diarra Sarr of Fraisen/Waalu Ma Aagri who has developed an efficient way of producing organic strawberries locally in Senegal at an affordable cost; Abdourahmane Diop of Jappandil who developed a platform that connects farmers to qualified agricultural experts, service providers and materials needed to improve farming practices and access the latest innovations; Aliou Diallo of Sigle:Senphytomed Suarl who is working to improve access herbal products and natural remedies while reinvesting in the conservation of medicinal plants; and Arfang Mafoudji Sonko of GIE Senbioagro Corporation whose innovation works to reduce food waste while creating employment and transforming excess yields into market-ready products.
The cohort will begin the six-month Senegal Start-Up Accelerator commencing in January 2019.
Participants will learn everything from how to develop customer profiles and how to carry out competitor analysis, to how to make a product roadmap and develop a sustainable revenue model for their business.
The Senegal Start-Up Accelerator is a part of Reach for Change and Kosmos Energy’s commitment to social investment in the countries where the two organizations work, and will contribute to Senegal’s future sustainable development.
About Reach for Change:
Reach for Change (africa.ReachforChange.org) is a non-profit organization that supports social entrepreneurs who are solving the most pressing issues facing children and youth in 17 countries worldwide. It runs innovation competitions, accelerators and incubators that unleash the power of entrepreneurship and innovation to create a better world for children. Reach for Change first launched its African operations in Ghana in 2012 and has since expanded into Senegal, Chad, Ethiopia, DR Congo, Rwanda and Tanzania. To learn more, visit africa.ReachforChange.org.
About Kosmos Energy:
Kosmos (www.KosmosEnergy.com) is a well-capitalized, pure play deepwater oil and gas company with growing production, a pipeline of development opportunities and a balanced exploration portfolio along the Atlantic Margins. Our assets include growing production offshore Ghana, Equatorial Guinea, and in the U.S. Gulf of Mexico, a competitively positioned Tortue gas project in Mauritania and Senegal, and a sustainable exploration program balanced between proven basins (Equatorial Guinea and U.S. Gulf of Mexico), emerging basins (Mauritania, Senegal and Suriname) and frontier basins (Cote d’Ivoire and Sao Tome and Principe). As an ethical and transparent company, Kosmos is committed to doing things the right way. The company’s Business Principles articulate our commitment to transparency, ethics, human rights, safety and the environment. Read more about this commitment in the Kosmos 2017 Corporate Responsibility Report. For additional information, visit www.KosmosEnergy.com.
About the Kosmos Innovation Center:
The Kosmos Innovation Center (KIC) (www.KosmosInnovationCenter.com) invests in young entrepreneurs and small businesses who have big ideas and want to see their country grow. Through customized programs, led by local experts and supported by partners, the KIC provides expert training, mentorship and seed funding to support innovation. It is Kosmos Energy’s flagship social investment program, contributing to the creation of a healthy and diverse economy in the countries where it operates. The KIC is currently active in Ghana, Mauritania and Senegal. To learn more, visit the KIC website: www.KosmosInnovationCenter.com