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MKU Earmarks shs.40 million to fund graduates business ideas

One hundred alumni of Mount Kenya University (MKU) will from next month benefit from a Shs. 40 million enterprise fund targeting scalable business ideas.

To fund, which is being implemented by MKU’s Graduate Enterprise Academy, will give priority to ideas that can easily be commercialized to create jobs.

MKU chairman Prof. Simon Gicharu said successful applicants will be taken through a mentorship programme and later offered capital to execute their ideas.

“Vetting of the best ideas will be done by a team of internal and external experts while mentorship will be offered by renowned business moguls in the country,” he said.

Successful applicants will earbark on three-month residential mentorship at MKU headquarters in Thika town.

The pioneer classes at the academy comprise nine beneficiaries who graduated in 2014 are now running successful business. Each individual was given a seed capital of Kshs. 400,000.

Prof. Gicharu said the enterprise kitty’s goal is to bridge the gap between knowledge generation and utilization.

Aside from offering enterpreneurial training and mentorship, MKU enterprise Academy will provide the relevant market linkages that can help the beneficiaries upscale their business to the next level.

Some of the business leaders incorporated in the Academy includes Keroche Breweries chief executive Tabitha Karanja and Bidco Africa CEO Vimal Shah.

Prof. Gicharu emphasized on the need for a secondary source of income through enterprise, aside from salaries drawn from employment.

Many Universities in Kenya have turned into establishing enterprise and incubation centres in support of their alumni as job opportunities in Kenya Shrink rendering fresh graduate jobless.

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