Corporate entities urged invest in startups - KBC

Corporate entities are being urged to set aside a budget towards nurturing entrepreneurs as part of their social responsibilities.

State Department of Petroleum Principal Secretary Andrew Kamau says this will ensure scalability of some potential startups who face funding challenges.

Companies looking to have a greater impact on society have been challenged to channel their social corporate responsibilities towards assisting entrepreneurs realize their business ideas which often die at the conception state.

Speaking during the awards gala of this years total start upper of the year, Kamau said that in order to eliminate unemployment and solve the issue of businesses sustainability more resources and goodwill needed to be unlocked to safeguard against business failures and unequal opportunities in getting capital.

Get breaking news on your Mobile as-it-happens. SMS ‘NEWS’ to 22163

Kamau said that priority sectors under big four will heavily rely on locally developed solutions from startups to accelerate the projects.

Some companies however feel that the youth have to come up with viable and feasible novel ideas in order to be assisted with the skills and capital they seek.

Total Kenya says that part of its efforts in empowering the youth include offering free mentorship through The total startupper challenge which was won this year by Rose Moses with James Nyamai coming second and Abraham Mbuthia third with cash prizes for their businesses amidst glaring challenges for the entrepreneurs.

Tell Us What You Think