{"id":119445,"date":"2024-05-24T21:35:53","date_gmt":"2024-05-24T21:35:53","guid":{"rendered":"https:\/\/www.africa-press.net\/kenya\/all-news\/mastercard-announces-sh13m-edtech-funding-for-african-startups"},"modified":"2024-05-24T22:00:34","modified_gmt":"2024-05-24T22:00:34","slug":"mastercard-announces-sh13m-edtech-funding-for-african-startups","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/kenya\/all-news\/mastercard-announces-sh13m-edtech-funding-for-african-startups","title":{"rendered":"Mastercard announces Sh13m Edtech funding for African startups"},"content":{"rendered":"

Africa-Press – Kenya. <\/strong><\/span>Payment card service firm-Mastercard in partnership with iHub has announced a $100,000 (Sh13.1 million) equity-free funding for learning startups in the country and Africa at large, to drive Edtech ventures.<\/p>\n

The funding comes alongside other critical business support as well as insight into the science of learning to prepare them for scale, sustainability and impact.<\/p>\n

The fellows will also receive post-programme advisory support of up to 12 months.<\/p>\n

A total of 12 startups across the continent have been shortlisted for funding, they make up the second cohort for the fellowship programme that was established back in 2019.<\/p>\n

The first cohort also saw a similar number of startups from seven countries and they managed to reach over 800,000 learners across the continent.<\/p>\n

The five-year fellowship programme generally intends to support over 250 Edtech companies and reach at least 1.8 million young people by 2025.<\/p>\n

It is specifically designed to support Edtech firms across the continent that are addressing learning challenges across K-12, tertiary education, vocational training and out-of-school learning.<\/p>\n

Commenting on the programme, Joseph Nsengimana, the director of Mastercard Foundation Centre for Innovative Teaching and Learning, said the partnership with tech hubs such as iHUB Kenya, has increased access to quality and relevant learning for Kenya\u2019s and Africa\u2019s underserved learners, through home-grown technology-enabled solutions.<\/p>\n

“The EdTech solutions by iHUB Kenya\u2019s 2023 cohort reached 32,000 learners, and we look forward to greater impact this year,\u201d Nsengimana said.<\/p>\n

On her part, Nissi Madu, the managing partner at iHub Kenya, said they are enthusiastic about the potential of the selected start-ups to enhance the face of EdTech in the region.<\/p>\n

“After the success of cohort I in 2023, we are excited about the second cohort’s potential to add to better education outcomes for learners in Kenya,\u201d Madu said.<\/p>\n

She added that this year\u2019s cohort is inclusive of startups that are offering more diverse solutions compared to the previous cohort.<\/p>\n

\u201cThis year\u2019s call for applications received diverse technologies and solutions from those seeking to improve access to quality education and enhance learning outcomes through technology-driven approaches,\u201d she said.<\/p>\n

\u201cWe have startups dealing with PWD, more of women-led and ones attached to TVET offerings, unlike in the last cohort.\u201d<\/p>\n

She however expressed concern over the low funding directed towards Edtech in the past years, calling on investors to venture into the segment provided the potential it has for the country\u2019s GDP prospects.<\/p>\n

\u201cOnly about two per cent of the total capital flows in the continent went to Edtech in the past year,\u201d she said.<\/p>\n

Kenya’s education system also recently received a funding boost from the US to be channelled towards Science, Technology, Engineering and Mathematics (STEM) related fields.<\/p>\n

The US pledged close to $32 million (Sh4.2 billion) of investment to support new partnerships between the two countries\u2019 universities and industry.<\/p>\n

It includes a commitment from Microsoft and the Mastercard Foundation to support STEM education through higher education partnerships, and a commitment from US universities to partner with Kenyan institutions to build mutual capacity in related courses of study.<\/p>\n

The funding announcement was made during the strategic partnership signing event in Atlanta, US, during President William Ruto\u2019s four-day US visit.<\/p>\n

For More News And Analysis About Kenya<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Kenya. Payment card service firm-Mastercard in partnership with iHub has announced a $100,000 (Sh13.1 million) equity-free funding for learning startups in the country and Africa at large, to drive Edtech ventures. The funding comes alongside other critical business support as well as insight into the science of learning to prepare them for scale, […]<\/p>\n","protected":false},"author":84,"featured_media":119444,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,5],"tags":[6857,7003,544],"class_list":["post-119445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-economy","tag-africa-press","tag-africa-press-kenya","tag-kenya"],"yoast_head":"\nMastercard announces Sh13m Edtech funding for African startups - kenya<\/title>\n<meta name=\"description\" content=\"Payment card service firm-Mastercard in partnership with iHub has announced a $100,000 (Sh13.1 million) equity-free fund ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/kenya\/all-news\/mastercard-announces-sh13m-edtech-funding-for-african-startups\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Mastercard announces Sh13m Edtech funding for African startups\" \/>\n<meta property=\"og:description\" content=\"Payment card service firm-Mastercard in partnership with iHub has announced a $100,000 (Sh13.1 million) equity-free fund ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/kenya\/all-news\/mastercard-announces-sh13m-edtech-funding-for-african-startups\" \/>\n<meta property=\"og:site_name\" content=\"kenya\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2024-05-24T21:35:53+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-24T22:00:34+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/05\/sm_1716571646.143565.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"900\" \/>\n\t<meta property=\"og:image:height\" content=\"599\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mastercard-announces-sh13m-edtech-funding-for-african-startups#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mastercard-announces-sh13m-edtech-funding-for-african-startups\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Mastercard announces Sh13m Edtech funding for African startups\",\"datePublished\":\"2024-05-24T21:35:53+00:00\",\"dateModified\":\"2024-05-24T22:00:34+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mastercard-announces-sh13m-edtech-funding-for-african-startups\"},\"wordCount\":541,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mastercard-announces-sh13m-edtech-funding-for-african-startups#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/kenya\/sites\/28\/2024\/05\/sm_1716571646.143565.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Kenya\",\"Kenya\"],\"articleSection\":[\"all news\",\"economy\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/kenya\/all-news\/mastercard-announces-sh13m-edtech-funding-for-african-startups#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mastercard-announces-sh13m-edtech-funding-for-african-startups\",\"url\":\"https:\/\/www.africa-press.net\/kenya\/all-news\/mastercard-announces-sh13m-edtech-funding-for-african-startups\",\"name\":\"Mastercard announces Sh13m Edtech funding for African startups - 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