Virtual City’s Mobile Distributor solution wins Nokia’s $1m
Virtual City’s Mobile Distributor solution wins Nokia’s $1m

Virtual City’s Mobile Distributor solution wins Nokia’s $1m

Virtual City’s Mobile Distributor solution wins Nokia’s $1m

Posted on: September 17, 2010 – Filed under: Kampala

Virtual City Ltd, a home-grown Kenyan company is this year’s winner of the global Growth Economy Venture Challenge offered by mobile phone solutions company Nokia. The award was won in recognition to the company’s Mobile Distributor Solution designed to improve the distribution efficiencies for small and micro enterprises in the fast moving consumer goods market.

A panel of experts judged their submission – Mobile Distributor Solution, which supports small and micro enterprises in emerging markets – to be the worthy winner. John Waibochi of Virtual City Ltd received Shs 80 Million (USD 1 million) in venture capital investment and a commitment of support from Nokia to help turn the idea into reality.

The announcement at the Nokia Developer Summit the Mobile Distributor Solution aims to boost the profitability of small and micro-businesses by increasing the number of transactions as well as improving inventory management, the accuracy of records, and reporting from the field.

In the Growth Economy Venture Challenge, developers were required to submit their best idea for a new mobile product or solution designed to improve the lives of people in the developing world.

Judges looked for one idea that has risen above the rest, an idea that changes the way people use Nokia mobile devices, demonstrates how mobility can radically improve the lives of people who reside in areas where the average income is under USD 5 / day, or an idea that recognizes a good business opportunity that also contributes to “doing good” in the world.

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