Bolt has unveiled a Sh2.92 million Accelerator Program intended to enable Kenyan drivers, and couriers or their immediate family members to establish and expand their business.

The ride hailing firm says the seed fund will be availed to support business plans developed by Bolt drivers and couriers or their family members that are linked to sustainable transport.

Program beneficiaries will be invited to pitch business ideas on Bolt’s vision of creating sustainable African Cities prioritizing well-being, sustainability and accessible mobility for all.

Bolt says the initiative will be run in collaboration with The Nest Innovation Park, which will provide mentors to support the qualifying participants to come up with their business plans.

The program will enable Kenyan innovators to exploit their entrepreneurship to create sustainable mobility solutions tackling Kenya’s key urban challenges and grow the economy.

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120 participants shortlisted under the program will undergo training routine designed to foster business development skills while also supporting career development in the future.

Seasoned entrepreneurs and in-person mentoring sessions will be accorded to the top 20 participants in additional training to be able to run successful business and later scale.

The Business Pitch Day is scheduled to be held in June 2024, with the top 10 business ideas to be picked and awarded the seed funding of Sh290,000 backed by additional mentoring.

Bolt Regional Director of Rides for Africa Caroline Wanjihia has expressed optimism the accelerator program will instigate significant transformation in the local communities.

“We are excited to support the concepts of our drivers and couriers and extend this program to their family members to make an even bigger impact,” stated Wanjihia.

She added: “The Accelerator program has been an exceptional success in Nigeria, and we are thrilled to extend its impact to Kenya today.”

The ambitious Bolt Accelerator Program was first initiated in Nigeria in September 2023 and was launched simultaneously in Kenya and Ghana on Tuesday March 19, 2024.

The program is open to all registered Bolt drivers and their immediate family members in Kenya with the application period starting on March 19 and terminating on April 4, 2024.