Somo is an NGO that works with entrepreneurs to provide training, mentorship, financing, and market linkages.
Somo supports innovative entrepreneurs with leadership development opportunities, financing, and access to wider markets. Somo addresses the issues of unemployment and insufficient social services through market-based solutions.
We work with individuals from low-income urban communities who create sustainable businesses that address needs within their communities. Our primary beneficiaries are our trainees and entrepreneurs. Our secondary beneficiaries are their employees, families and customers. By investing strategically in people, we help break the cycle of poverty.
For further reading - HOW IT WORKS:
Our program starts with Somo’s 12-week Entrepreneurship Bootcamp. This teaches practical business skills like record-keeping and customer segmentation while also helping trainees carry out market research in the field and prototype their idea. The Bootcamp cultivates confidence and leadership abilities. Our digital tools manage tasks, deliverables, meetings and metrics, and provide accountability on all sides to continue developing a long-term record of growth for entrepreneurs and mentors alike.
Somo’s 2-year Acceleration Program provides long-term support for promising entrepreneurs, including additional coaching, funding and broader market access. Throughout the process, entrepreneurs and their businesses set clear and measurable goals, against which we evaluate progress. Continued funding is based on both performance evaluation and the success metrics jointly defined by Somo entrepreneurs and team. Furthermore, we make it easier for our businesses to access financing in the future through digitized and structured reporting systems, and by helping them access external forms of financing and guarantees.