AkiraChix win Kes. 1 Million in IPO48 with M-Farm.
AkiraChix, the all girl team of Application Developers won Kes. 1 Million in the inaugural IPO48 competition last night with their M-Farm concept. M-Farm is a mobile-based marketplace that creates transparency for agricultural produce so that farmers and brokers can achieve better prices for their produce. What was even more impressive in their presentation last night at IPO48 was that they already had a short-code to which one could send an SMS to get the latest Maize prices for a specific market in Kenya. M-Farm also won since its business model was well thought out and they even had a crowd sourcing approach for securing current pricing for agricultural produce.
Overall, IPO48 was a highly competitive and successful event with many great software applications and business concepts coming to the fore. Its amazing how much creativity and ingenuity was presented there and I found myself thinking more like a venture capitalist, rather than observer. One thing however is for sure – many of the ideas that did not win will still find suitors and in fact it was announced that one already had an Angel Investor in place. So, who knows, IPO48 could become one of those events that acts a launchpad for early stage Kenyan ICT start ups to find funding and a business model that works! To AkiraChix, congratulations! For a full breakdown of the results, visit this post at Afrinnovator.com who also covered IPO48 in detail