MTI Investment Highlights TechBridge Impact in Kenya
Danderyd, Sweden - MTI Investment SE (ticker: MTI) proudly highlights the impactful work of TechBridge in Kenya. With its headquarters in Mombasa and pressence in Nairobi, TechBridge is a key player in the Kenyan startup scene. MTI and TechBridge are now expanding into Tanzania to empower more local entrepreneurs. Key achievements include completing a new business cohort, introducing a new support model for early-stage companies, and hosting a visit from Norway's Deputy Minister of Development, underscoring its growing regional influence.
Expansion and Program Developments
TechBridge provides business development support through cohort-based programs focusing on incubation (idea stage) and acceleration (post-revenue stage), continuously run in Mombasa and Nairobi. Besides offering support to startups and alumni they also offer consulting services to companies in East Africa and the Nordics, acting as a bridge between the two regions, with Nordic clients particularly valuing their on-ground experience. The current incubation cohort, with 27 participants from both cities, is now completed. Since its inception in 2016, TechBridge has now trained more than 1000 entrepreneurs.
New Approach to Boost Post-Revenue Support
TechBridge is testing a new approach for early stage business support, especially focusing on circular and blue economy sectors. Now onboarding startups on an ongoing basis and focusing on tailored one-to-one support and mentoring.
Anton Dahlberg, Head of Programs at TechBridge, believe this will be more valuable for entrepreneurs and differentiate us from other ecosystem support organizations, especially in Nairobi. This new appraoch was presented at an event in Nairobi on May 28th, and a few pictures from the event are included here.
Visit by Norwegian Deputy Minister of Development
On May 31st, Norwegian Deputy Minister of Development, Bjørg Sandkjær, along with a delegation led by the Norwegian Ambassador to Kenya, Gunnar Andreas Holm, visited TechBridge in Mombasa. The delegation was introduced to promising startups like "Ecoprint" and "Twende Green," which upcycle marine plastic waste into new products. They expressed admiration for the impact of Norwegian support on private sector development.
About TechBridge
Founded by the late Øivind Rideng, TechBridge is a pioneering Norwegian company based in Mombasa, continuing its mission of fostering innovation and empowering startups in East Africa. Recognized as the "Incubator of the Year" in 2023, TechBridge offers dynamic accelerator programs and invaluable resources to entrepreneurs. Through strategic partnerships and a commitment to sustainable development, TechBridge is driving economic growth and empowering communities to thrive in the digital age. With a focus on nurturing local talent and shaping the future of entrepreneurship, TechBridge honors Rideng's legacy by redefining possibilities and making a lasting impact in the startup ecosystem. MTI is the largest shareholder in TechBridge.
For more information about TechBridge and their programs, please visit TechBridge.
For additional information
Pontus Engström, CEO, MTI Investment SE
[email protected]
+46 70 716 55 38
Anton Dahlberg, TechBridge Invest Africa Ltd
[email protected]
+46 72 544 77 88
About MTI Investment SE
MTI operates at the intersection of venture capital and impact investing. Our goal is to become a leading investment company active in one of the foremost growth markets in the world, East Africa. With a diversified team rooted in both the Nordic region and East Africa, we have forged a unique position with capital and expertise from the Nordics, and a strong network and trust capital from local entrepreneurs in Africa. Founded in the Nordic financial industry, backed by capital-rich and experienced investors, as well as foundations owned by industrial families, MTI Investment brings significant competitive advantages to portfolio companies, sustainable transformation in the region, and high returns to our investors.
The MTI Investment share (MTI) is traded on the Nasdaq First North Growth Market.
Certified Adviser to MTI Investment is Mangold Fondkommission AB.
Read more on: www.mti-investment.com
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Om MTI Investment
MTI Investment SE is a Nordic investment and venture building company, founded in 2014 by a team with extensive experience from emerging markets with the aim of investing in East African small and medium-sized enterprises ("SME") with high value-adding potential. The Company is active in the expansive East African market, and by being a long-term and active owner, MTI Investment helps its portfolio companies grow faster and become more profitable. The Company invests primarily in innovative and scalable companies that have the potential for a significant positive impact on society.
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