Safaricom Launches second phase of the Spark Accelerator Program; Here is how to Apply

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Safaricom has officially launched the second phase of its Spark Accelerator Program, opening applications for a new cohort of early-stage startups.

The announcement follows a successful investor demo day that showcased the achievements of nine innovative startups from the inaugural phase.

The event, held earlier this week, brought together tech entrepreneurs and top venture capital firms, providing a platform for startups to secure critical funding and scale their solutions.

The Safaricom Spark Accelerator Program is a collaborative initiative between Safaricom PLC, M-PESA Africa, and Sumitomo Corporation, with implementation support from iHub, Amazon Web Services (AWS), Vodacom, and PwC.

Building on the restructured Safaricom Spark Venture Fund, the program aims to elevate Kenya’s startup ecosystem by offering entrepreneurs access to training, tailored product development, technical mentorship, market entry opportunities, and investor connections.

Read: How to Apply for the CIB East Africa Credit Analyst Program

The second phase of the Spark Accelerator Program will run from April 1 to May 15, 2025, targeting startups in sectors such as embedded finance, fintech, SME productivity tools, and digital content creation.

Eligible startups must be based in Kenya, have a functional product with existing revenue, and fall under the Pre-Series A stage.

Teams must also demonstrate multi-disciplinary expertise and be open to equity participation. Female founders are especially encouraged to apply.

Benefits of the Spark Accelerator Program

Participants in the second phase of the Spark Accelerator Program will enjoy a wide range of benefits designed to help startups grow and scale successfully:

Product & Technology Support: Access to Daraja and M-PESA Open APIs, AWS Activate credits worth up to $25,000, and expert mentorship.
Market Access: Startups will be able to tap into Safaricom and M-PESA’s vast customer base of over 30 million users, alongside Safaricom’s partner network.
Capital Access: Investor readiness training and opportunities to pitch for funding from Safaricom and leading venture capital firms.

Safaricom Spark Accelerator Program Sector Focus Areas

Startups aligned with the following innovation areas are encouraged to apply:

Embedded Finance, InsureTech, Fintech as a Service, Agency as a Service
Future Fintech: AI-driven fintech solutions, wealth management, reg-tech, fraud detection, personal finance, scoring, and proximity payments
SME Productivity Tools: E-commerce enablement, POS solutions, merchant loyalty, working capital tools, and inventory management
Content Creation: Mobile advertising, local gaming, and both short and long-form video content