IPO48 is a totally new concept to connect the tech crowd in Kenya. The idea is to bring together 100 talented and ambitious programmers, designers and visionary entrepreneurs to create new cool mobile and web services in just 48 hours. This time with a guaranteed investment of 2.5 million KShs. from the IPO48 investors.
The second Nairobi edition (the first took place in October 2010) has experienced a boost in the participant numbers of all levels - almost 90 startups wanted to enter the competition, over 200 people applied for the competition and circa 100 Rainmakers engaged in the feedback and pledging of a virtual currency into the competing startups. All in all, 13 startups followed to the final event with 18 on-site mentors present from US, Spain, Estonia, South-Africa, Denmark and Kenya.
The energy that flows around at IPO48, can be sensed also on-line - keeping an eye on the startups both before and during the actual event.
IPO48 Nairobi also has interesting things planned for selected participants after the event, two intensive workshop days, the 16th and 17th (Tuesday and Wednesday) of August, by Quartz+Co.