NAIROBI, Kenya, July 2 – Two Rivers International Finance and Innovation Centre Special Economic Zone (TRIFIC SEZ), in partnership with Chanzo Capital, a venture and growth capital firm investing in high-tech startups and scaleups, has launched the Chanzo ONESPACE Startup and Scaleup Accelerator (COSSA) program.
The initiative at ONESPACE, a high-end office space with administration services within the TRIFIC SEZ, will focus on tech ventures that are ready to scale up from their country into new markets across the region.
The first cohort of the COSSA program will feature Kenyan companies, including SaveApp, At Large Innovation (Thryv Capital Partners LLP), and CheckUPS COVA, looking forward to expanding in other countries across Africa.
The program to be implemented in partnership between three leading African institutions will provide critical solutions to the challenges facing businesses as they expand into other countries.
Brenda Mbathi, TRIFIC SEZ Chief Executive Officer (CEO), revealed that COSSA will secure its funding from Chanzo Capital through the KINGS Fund in Kenya, Ivory Coast, Nigeria, Ghana, and South Africa.
In addition to the capital, the program, which will leverage the African Continental Free Trade Area (AfCTA) to create African multinational corporations, will also provide capacity building for the cohort and connect them to the business community of the countries they are expanding into.
“We are delighted to welcome Chanzo Capital to TRIFIC SEZ, this is a great addition to our portfolio of companies that will go a long way into making us the Special Economic Zone of choice for high tech firms,” said Mbathi, CEO of TRIFIC SEZ.
Ian Kabiru, Chief Executive Officer of ONESPACE, noted that the program will empower entrepreneurs and create new job opportunities, leveraging the strategic incentives and an enabling environment at TRIFIC SEZ.
“We have been home to multiple African and international businesses, so our team has the know-how and networks to support the COSSA cohort and enable them to focus on their core business,” stated Kabiru.
“Programs such as COSSA are the reason we created the Innovation Hub at TRIFIC SEZ,” said James Mworia, CEO of Centum.
Chanzo Capital will host the 11th edition of its annual Angel Fair Africa in Nairobi from November 7 to 8, 2024.
Upon completion of the COSSA program, the scaleups will pitch their businesses to more investors.
