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Alumnus takes home USD 25,000 and runner up at Awards Gala

MuriuAlumnus Alex Mwaura Muriu took second place (and US$25,000) in the Innovation Prize for Africa (IPA) 2015 awards.

The announcement was made at an event in Shikrat, Morocco. Alex had been listed among the 10 finalists from all over the African continent. The IPA is organized by the Africa Innovation Foundation (AIF) which works to catalyze innovation in Africa.

Through his company Farm Capital Africa, he developed a system to meet the perennial challenge faced by African farmers in accessing capital to finance planting and harvesting by providing an alternative from the burden of financial loans.

Muriu’s innovation is a risk sharing funding agribusiness model that draws in investors for a share of farming profits. It identifies, screens and shortlists full-time farmers with small holdings, helping them devise farming plans to attract potential investors who earn profits over time. This is a viable solution to address the inability of committed, small scale African “agri-preneurs”– who lack collateral and credit history to access traditional financing—from expanding their operations. This initiative makes farming an attractive investment option for those with extra capital, and benefits both small scale farmers and investors

Alex Muriu is an entrepreneur, marketing consultant and digital strategist. He has worked for Creative Edge, Scanad Africa and is currently at KCB Group. He has also co-founded Zenith Media, After 6 Labs and Farm Capital Africa.

In 2011 he was among the Top 25 Startup entrepreneurs at Pivot East, East Africa’s biggest Tech Startup Conference.

In 2013 he represented Kenya at the Global Entrepreneurship Summit in Kuala Lumpur, Malaysia, and won the Honorable Mention award.

In 2014 he was one of 12 International Entrepreneurs selected to attend the GIST Transformation Journey in the cities of Chicago and Washington DC, hosted by the US State Department.

 

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