Accelerating the Future...
- Award Categories: Economy
- Award Year: 2019
- Nominee URL: https://funtrench.com/
Exists a lack to access to emerging technology training, besides there is not a good environment for students in this area to launch startups or access to employment. Unemployment in Kenya stands at about 8% of the population, with a larger number underemployed. The demographic largely affected is the youth, who can benefit greatly from gaining emerging technology ICT skills enabling them to access the global job market, well-paying local opportunities or found their own startups.
Allowing students to access education in emerging technologies, offering them post-training career opportunities and the tools needed for applying this knowledge in the real world. Funtrench is providing the pieces needed to create a self-sustaining local technology ecosystem that will be able to create employment opportunities for millions.
We train practically and with a focus on enabling the development of real products for the local and regional market. We are also the first campus to train blockchain in Kenya, and the sole Blockchain Training Alliance partner in Eastern Africa.
Our great ally could be their great challenge: the emerging technologies, which have brought changes in many company models. As companies and governments look increasingly to automation and digitization, the process of change and upgrading legacy processes is the challenge, but also the opportunity.
Blockchain’s market size is predicted to be $60 billion by 2024 and the financial sector might be the largest contributor to that figure. For that reason, the company is currently working on expanding its blockchain campus to Rwanda in the near future. At present we have trained over 400 students on emerging technologies, and we are presently working with partners on distributed ledger solutions for the insurance industry, with the potential to impact millions with savings from reduced insurance fraud and the improved efficiency of the claims process.