By Myolisi Sikupela | From VentureBurn

A new initiative launched last week by Kenya’s Information Communication Technology Authority (ICTA) and the Netherlands Trust Fund phase III — a programme funded by the Dutch government — has signed a three-year funding project aimed at Kenyan ICT startups and SMEs.

The funding, according to TechCabal, is worth US$1.2-million and is aimed at enhancing the export competitiveness of Kenyan ICT companies.

The argument that African startups need venture capital cannot be repeated enough. Except for a few startups that have venture capital, the majority of African startups often have great ideas but not enough money to implement them into startups.

“Building the capacity of Kenyan tech companies hinges on our ability to not only put the right policies and strategies in place, but in forming definitive partnerships,“ Victor Kyalo CEO of ICT Authority said, “At the ICT Authority, we are honoured to partner with the Netherlands Trust Fund project in realizing our vision of being an ICT leader in Africa. I also congratulate the 33 companies that now have the opportunity to expand to other markets.”

A list of all 33 companies can be found here.

Read more at Venture Burn