MoDe wins entrepreneur of the year

2013-02-14 10:29

(Stan Honda, AFP)

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Cape Town –  The Kenyan mobile nano credit company Mobile Decisioning was announced the IBM Global Entrepreneur of the Year.

Mobile Decisioning is a company that focuses on delivering micro and nano credit products to consumers across the globe.

According to IBM nearly 80% of mobile phone users in growth markets do not have access to traditional banking loans and credit. MoDe’s innovative payment services ensure that people have access to mobile airtime when needed, while helping telecommunications companies increase efficiency and build brand loyalty.

“Being named the IBM Global Entrepreneur of the Year is a tremendous honour and will accelerate our ability to create new markets,” said Julian Kyula, MoDe chief executive officer.

“The access to clients and potential investors that we have had through the SmartCamp programme would have taken our company 10 years to achieve on our own, with IBM it took less than six months.”

MoDe is a two year-old company with over 50 employees and a presence in five countries. Its product has already been used by millions across the continent.

As part of their prize, MoDe will get access to leading experts and technology, and ultimately market their products faster.

The program operates with the goal of uncovering, fully developing, and commercialising innovations which create new business opportunities in industries and regions around the globe.

In November, MoDe was announced as the winner of the first IBM Smartcamp that was held in South Africa. They competed against four other tech start-up companies from across the country and presented their business ideas to a panel of judges. 

After qualifying, eight finalists from seven countries were selected for the Global Finals event.

The finalists pitched their businesses to an audience of venture capitalist, serial entrepreneurs, academics and leaders in business and technology.

After two days of mentoring and networking, a panel of judges selected MoDe on the strength of its product innovation, growing client base and alignment with IBM’s Smarter Planet initiative.

IBM SmartCamps connect startups with seasoned and successful venture capitalists, investors, and innovative business leaders, giving them the tools and insight needed to excel in their often nascent markets.”

The requirements for entrepreneurs to participate in the programme was that their companies must be privately owned, they must have been in the business for five years or less, and they must be actively engaged in developing a software-based product or service.

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- News24
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