National Bank of Kenya (NBK) has partnered with Growth Match Africa and UK Kenya Tech Hub in a significant mentorship programme that has been dubbed “StartUp & Chill.”

The initiative seeks to pair startups with strong mentors and advisors who have significant domain, technical or business expertise in their respective fields to aid them realize growth.

NBK’s Head of Change and Integration Fred Kioko said the program will help startups to gain technical know-how to build their operational capacity hence set themselves for growth.

Speaking at the second edition of the “StartUp & Chill” event, Kioko noted that the pact will enable various startups to overcome barriers and upscale growth areas in their businesses.

“With the advisors that we have, we are hoping that by the time we are done, the signed startups will be well equipped and empowered to adequately offer their services efficiently,” said Kioko.

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The initiative involves matching advisors whose profiles are created by Growth Match and shared with the startups to select their preferred long-term partner based on their need.

The availed strategic advisors cover various areas in business including sales and marketing, product development, Finance and Funding as well as Standard Operating Procedures.

According to NBK, the program will ensure budding entrepreneurs in the various sectors are oriented for sustainability, bankability and growth.

“We at Growth Match Africa are thrilled to see this initiative come to life. This business model benefits both the advisor and the startup and will disrupt the ecosystem, said Yobdar Bakri, Personal Development and Business Coach.

The UK Kenya Tech Hub Country Director, Sheena Raikundalia, welcomed the strategic initiative saying it provided a win-win opportunity for both the startups and advisors.

“It’s a win for both startups and advisors. Startups get access to talented experts in Kenya and advisors see what innovators are doing, how they will disrupt and create Kenya’s future jobs,’’ said Raikundalia.

According to a Forbes 2019 report, 90 per cent of startups flop due to poor management, leadership and internal processes, which the new partnership seeks to help startups overcome.