Britam’s innovation hub, BetaLab, has announced six high-potential startups selected for its 12-week pre-incubation program.
These innovative ventures are poised to disrupt the financial services landscape, tackling critical challenges in real estate, savings, SME financing, and healthcare.
The Chosen Innovators
The Britam BetaLab program has handpicked a diverse group of startups, each bringing unique solutions to the table.
- Zereba leads the pack with a pioneering super App offering a deposit-free rental marketplace and streamlined real estate transactions.
- Amsha follows suit, leveraging technology to create innovative savings solutions tailored for young adults.
- Adapo stands out as a dedicated fintech platform empowering SMEs and startups through equity crowdfunding.
- Chamazetu aims to transform the management of “chamas” (informal savings groups) in Kenya through its digital platform.
- Pesaflex offers a secure and cost-effective bank-to-bank transaction solution, revolutionizing payments for MSMEs.
- Rounding out the group is Medicod AI, a transformative healthcare and insurance software utilizing advanced AI to optimize medical coding and billing processes.
Britam BetaLab’s Vision and Support
These startups were carefully selected for their exceptional ability to address market needs within Britam and BetaLab’s areas of operation in the finance and insurance sector.
The pre-incubation program is designed to equip them with the necessary tools and support to scale their businesses and achieve significant impact in the financial sector.
Evah Kimani, Director of Partnerships & Digital at Britam, expressed excitement about the collaboration, stating, “We are thrilled to work with these talented entrepreneurs and support their growth journeys. Their innovative solutions have the potential to transform the financial services industry and improve the lives of Kenyans.”
Comprehensive Support and Guidance
The Britam BetaLab program offers a holistic approach to nurturing these startups. Participants will receive comprehensive support, including valuable networking opportunities to connect with potential investors, partners, and customers.
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The program focuses on key areas such as business model development, product development and MVP creation, market validation, and pitching skills.
The Selection Process and Program Structure
Following a nationwide call for applications, Britam BetaLab received a wide pool of applicants. The six chosen startups were shortlisted based on the quality and soundness of their ideas, as well as the clarity of their needs and objectives.
The pre-incubation program is structured as a 12-week intensive journey designed to accelerate the startups’ growth and development. Upon completion, the top three performers will be eligible for further incubation within the BetaLab program.
Partnership with Senior Talent
Britam BetaLab has partnered with Senior Talent to enhance the program’s effectiveness. This collaboration connects highly skilled and seasoned senior business executives with business founders to tackle challenges and accelerate development and growth.
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Nduati Maina, Senior Talent Chief Executive, emphasized the program’s mission, stating, “BetaLab aims to empower these six startups to overcome challenges, create impactful solutions and foster economic prosperity while inspiring a new generation of entrepreneurs.”
The program boasts an impressive roster of trainers and mentors, including seasoned techpreneurs. Eddy Thiong’o, an experienced tax lawyer and startup analyst, supports businesses in corporate strategy and tax advisory.
Dr. Matunda Nyanchama, an ICT professional and chairman of Damu Sasa, brings expertise in innovative healthcare solutions. Betty Cianda contributes as a gender finance and business development consultant, while Edwin Kinoti offers insights as a digital transformation expert with a focus on cloud services and corporate acceleration.
The Evolution of Britam BetaLab
Britam BetaLab, announced in February 2024, has quickly established itself as a dynamic incubation hub. It serves as a platform for startups and innovators to bring disruptive solutions to life, shaping the future of insurance.
The hub plays a multifaceted role, including a Corporate Acceleration Program, Incubation and Co-Creation initiatives, Workshops and Mentorship programs, and active participation in Hackathons and Events.
The impact of Britam BetaLab is already evident, having facilitated the growth of impactful startups such as AiCare, which offers mileage-based insurance.
As the program continues to evolve, it promises to be a catalyst for innovation in Kenya’s financial services sector, nurturing the next generation of groundbreaking startups and entrepreneurs.
