[Kenya] Sanitary products’ dispenser startup YZ-ME International wins 1M seed capital from Sinapis
Sanitary products vending startup YZ-ME International has won a 1 million shillings capital injection from Sinapis Organisation. The startup won the capital during the Sinapis business pitching competition held in Nairobi this month.
Now in its 7th year, Sinapis organises four-month advanced entrepreneurial training programs, specifically designed for entrepreneurs in Kenya in partnership with the Acton School of Business USA. The critical role of SMEs in the economy was highlighted by the National Economic Survey where SMEs constitute majority of all new business in Kenya, creating 30% of all jobs annually.
Sinapis has trained 1,000 entrepreneurs in 4 years, with an annual cohort of 250 entrepreneurs who undergo a 4 months training program, culminating in a business pitching competition with a 1 million shillings grand prize.
Matthew Rohrs, the CEO Sinapis Organisation outlined the growth of the Sinapis training programs to other regional towns in 2019 including Thika, Nakuru, Mombasa and Kisumu. “The entrepreneur academy that was first launched in Nairobi has further grown globally to Ghana, Brazil, Uganda and Liberia, “he added.
With Kenya being ranked 61 among 190 economies in the ease of doing business, according to the latest World Bank annual ratings, the Sinapis Entrepreneur Academy will enable local entrepreneurs to build scalable businesses that can expand to the rest of the world.