We are pleased to announce the third cohort of 11 new start-ups joining our GSMA Ecosystem Accelerator Innovation Fund portfolio today. We’ve updated our original start-up portfolio booklet to include these new additions and provided some information on the progress the previous cohorts have made.
These companies are joining the first two intakes of April 2017 and February 2018 respectively, which have already delivered very encouraging results.
- In terms of impact, 1.6 million beneficiaries have been reached by the various projects funded by the programme, while the equivalent of £2.5 million of additional income has been unlocked collectively, through direct revenue increases for citizens and local businesses, savings or productivity gains.
- On the investment front, two thirds of the start-ups have now raised follow-on funding totalling £32.9 million; 96 per cent of this ‘crowding-in’ is commercial funding, which is both a validation from the investment community of the business models developed by the investees, and a positive indication of their potential to scale.
- Some of these successes are attributable to partnerships with mobile operators, 10 of which have already been established with support from the programme.
We would like to introduce our newest start-ups:
- Agrocenta | Ghana | Mobile financial services for smallholder farmers
- Coliba | Côte d’Ivoire | Mobile-supported plastic recycling solution
- Eneza Education | Côte d’Ivoire | SMS-based educational content for K-12 students
- GiftedMom | Cameroon | Digital maternal health support via mobile
- Greenovator | Myanmar | Digital marketplace for agricultural inputs and outputs
- KEA Medicals | Benin | Medical identity solution for patients and hospitals
- oDoc | Sri Lanka | Mobile-based telemedicine services for individuals
- Pacific Ads Group | Papua New Guinea | Online marketplace and service job-matching platforms
- Qlue | Indonesia | Civic engagement app to connect citizens with city officials and businesses
- SkyEye | Samoa | Localisation and mapping solution for transportation services
- Taskmoby | Ethiopia | Mobile platform connecting skilled workers from the informal sector with customers
With the latest additions, our portfolio now covers 23 markets in total, including eight new countries. The representation of very diverse ecosystems is critical for us to help demonstrate that the case for collaboration between start-ups and mobile operators is not the prerogative of more structured ecosystems like Nairobi or Jakarta, but can also become a reality in Apia or Cotonou. The breadth of sectors represented within the portfolio is also expanding, with new challenges such as citizen engagement, waste management, or universal medical identity being tackled by the newcomers. With solutions to 13 of the United Nations 17 Sustainable Development Goals within the portfolio, the case for leveraging mobile innovation to help solve local problems is being widely demonstrated.
We as a programme feel honoured to be supporting this extraordinary group of individuals and companies more committed than ever to harness the power of mobile technology to deliver impact in their local societies and economies, and to partner with mobile operators on their path to scale. We would also like to thank our donors – the UK Department for International Development (DFID) and the Australian Government – who have trusted us on this journey and have made all this work possible.
We will be helping these organisations realise their full socio-economic and commercial potential, and hope the information included in the portfolio will inspire you to engage with us, and more importantly with them.