The United States Agency for International Development (USAID) has given out $18.4 million to startups picked for Development Innovation Ventures (DIV).
The majority of the startups picked under DIV have innovative solutions to tackle challenges in agriculture and energy. DIV purpose to support the discovery of better ways of addressing socio-economic challenges currently facing the world. The initiative does so by investing into startups seen to be capable of scaling up its innovative solution to reach as many people as possible.
Eight startups from Kenya are among the startups that will benefit from the $18.4 million funding by the USAID through the DIV program. These eight Kenyan startups are as follows:
FarmDrive: an IT startup firm that collects data on small-scale farmers and builds a credit scoring model. This data can then be used by money lending institutions to gauge the creditworthiness of the farmers.
PayGo Energy: This startup’s product is a fuel-stove that allows people to use cooking gas on a pay-as-you-go plan. PayGo Energy has fitted their gas cylinders with smart meters that work when the owner has paid for units of consumption via mobile money. …read more