MIT Solve Finalist


xetova - September 9, 2020 - 0 comments

Press Release

Kenya firm named among 2020 Health Security & Pandemics finalists by Massachusetts Institute of Technology (MIT)

Timely recognition for xetova’s procurement management innovation as Kenyan President calls for a collaborative and transparent approach in managing healthcare resources both at national and county levels.

Nairobi, Kenya xetova, a Kenyan technology startup, has been named as a 2020 Global Solve finalist by Massachusetts Institute of Technology (MIT) in the health Security and Pandemics track. MIT Solve is an initiative of the Massachusetts Institute of Technology (MIT) whose mission is to solve the world’s most pressing challenges.

Through the ongoing MIT’s 2020 Solve Global Challenge, xetova is the only Artificial Intelligence-backed African technology innovation finalist to participate in MIT’s Solve initiative under the theme of health security and pandemics track. xetova was recognized for its innovation of the AHSA Platform, which is a solution to support response preparedness in managing disease events, resource mobilization and resulting procurement action. The platform enables users to have real-time insights and foresight across the health value chains. 

According to the founder and CEO, Bramuel Mwalo, xetova is re-imagining procurement management to make it efficient, value-driven and inclusive. “We are delighted to be named as a finalist within the health security and pandemics category. This recognition has validated our work and boosted our morale as we seek to grow our partnerships. Our innovative solution will greatly support efforts by the government, corporates, financial institutions and donors to scale up value delivery and make procurement seamless, efficient, and Inclusive,” said Mwalo. 

On her part, Kenya Private Sector Alliance (KEPSA), Carole Karuga hailed xetova for the feat in getting global recognition for a world-class innovation developed locally. “As the private sector’ apex and umbrella body, we are proud to be associated with xetova. We urge other Kenyans to innovate as we assure them that we shall continue to champion the interests of the local business community in trade, investment and industrial relations,” she said. xetova’s endeavour comes at an opportune time in support of President Kenyatta’s call for a collaborative and transparent approach in managing healthcare resources both at national and county levels. KEPSA is confident that xetova has the solutions to support the government and many other actors to enhance collaboration, transparency and better insights. 

Finalists are expected to pitch their solutions at the Solve Challenge Finals in September during UN General Assembly Week in New York City. If selected as a Solver, xetova will join a supportive community of social impact leaders, funders, and experts to help advance their innovative work through Solve’s nine-month program. Other benefits include mentorship and strategic advice from Solve and MIT network as well as access to over $2 million in prize funding for the 2020 Global Challenges.

xetova is heavily investing in producing state of the art technology and building relationships that will create and deliver value for enterprises on the continent. The global Covid-19 pandemic has brought to fore the importance of supply-chains preparedness in combating pandemics. During this crisis, we have witnessed disease surveillance and the procurement of essential products being greatly disrupted. 

To this end, xetova has developed a solution to support the operations of actors working to ensure health security and resilience for organizations like government agencies, donor organizations, medical institutions and supply chain actors (manufacturers, buyers, suppliers, financiers) – critical to the availability of essential healthcare products in the country.

By being alert to changes in policy and regulations, KEPSA believes it can be able to support the government with ease while at the same time, sell its brand to government departments and agencies.

ENDS 

About xetova

xetova is a community-driven platform that connects suppliers, buyers and financiers in the procurement ecosystem. Our objective is to improve our users’ sourcing performance, manage their sourcing costs, and mitigate risks that come with doing business in procurement.

xetova aims to enhance performance in Africa’s procurement ecosystem and to make it more inclusive to local businesses. We do this by accelerating better decision making, greater visibility into contracts, access to favorable SME financing, and better risk management for buyers, suppliers and financiers.

For more details on xetova’s business, check out: https://www.xetova.com/

About MIT Solve

Solve is a marketplace for social impact innovation. Through open innovation Challenges, Solve finds incredible tech-based social entrepreneurs all around the world. Solve then brings together MIT’s innovation ecosystem and a community of Members to fund and support these entrepreneurs to help them drive lasting transformational impact. Join Solve on this journey at solve.mit.edu  

In the last three years, thanks to its partners, Solve has brokered commitments of over $25 million in funding for Solver teams and social entrepreneurs. The Virtual Solve Challenge Finals will be held at the end of this month. Kenyans can register to watch the closing plenary livestream of Solve Challenge Finals on September 29, where finalists of the 2020 Global Challenges will present to an audience of 400+ leaders. 

For more details on xetova and Solve, check out: https://solve.mit.edu/challenges/health-security-pandemics/solutions/25208