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The Kenyan economy is propped up by the SME sector which accounts for more than 98% of businesses in the country. Entrepreneurship has created livelihoods for millions of Kenyans. The prosperity of this sector, however, is met with many challenges such as inadequate managerial training, access to credit, difficulty in keeping abreast with technological advances and a host of other hurdles.
Most recently, the SME sector was dealt a huge blow by the COVID-19 pandemic which unfurled itself across the globe, claiming countless lives, stalling commerce and robbing millions of livelihoods.
A number of incubation hubs have been established to bolster the efforts of entrepreneurs and startups. A vast majority of these, however, lean heavily towards offering support to tech-based enterprises and consequently, businesses without a tech-based idea are left groping in the dark. Whereas it is worthwhile to support such firms, given the rapid pace of technological advancement and integration into normal life, uniform support to all players in the sector would yield far greater benefits.
In appreciation of this, the Strathmore Business Club conceived StrathCube, the first for-students-by-students incubation hub in Kenya. In the backdrop of the uncertain future posed by the COVID -19 pandemic, StrathCube, aspires to tap into the immense potential of the Kenyan youth’s industrious efforts in setting up businesses with a large potential for growth, scalability and positive societal impact.
Candidates stand to enjoy an endowment of capital from investors and business mentorship owing to the rich networks that the Strathmore Business Club has grown over the years. StrathCube will equip successful candidates with fresh eyes; to have a solution-based mindset towards challenges facing Kenyans with a view to find concrete ways of mitigating and ultimately eliminating these challenges.
StrathCube aims to empower all forms of promising enterprises to reach greater heights of success and have a positive societal impact. Long-neglected forms of business shall now enjoy the formation and support of all the multifaceted aspects of nurturing a successful business.
In the spirit of bringing the youth’s entrepreneurial dreams to fruition, StrathCube aspires to reach youth in the four corners of the country, acting as a central hub for all future student-run incubation hubs locally and regionally. Through StrathCube, the African youth shall not only actualise their competent business ideas, but also improve the livelihoods of others, playing a key role in breaking the shackles of poverty in Africa.