New Report Urges Kenyan Corporates to Drive Startup Growth via Strategic CVC Investments
A new report, 'Corporate Venture Capital (CVC) Report: State of Play in Kenya', has highlighted the untapped potential of Kenyan corporates in driving startup growth. The report, launched by the UK-Kenya Tech Hub's Angel Leads Programme, argues that these corporates can unlock new products and channels by strategically investing in startups.
Globally, corporate venture capital has proven to be a significant driver of startup growth, with funding reaching a staggering US$130 billion in 2024. However, in Kenya, corporate investment in startups remains limited, with only a few initiatives like Safaricom's Spark Fund and Chandaria Capital leading the way.
The report suggests that Kenyan corporates, with their unique market access, sectoral dominance, and digitising customer bases, are uniquely positioned to fuel startup growth. It encourages these corporates to move from short-term sponsorships to patient, strategic CVC activity to strengthen the economy.
The 'Corporate Venture Capital (CVC) Report: State of Play in Kenya' serves as a call to action for Kenyan corporates to strategically invest in startups. By doing so, they can unlock new products and channels, drive startup growth, and strengthen the Kenyan economy.
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