USAID shutdown: A $100 million setback for Kenyan startups
- President Trump's executive order to shut down USAID has halted essential aid worldwide.
- USAID's Development Innovation Ventures (DIV) invested over $100 million in Kenyan startups over the past decade.
- Pula Advisors received a $1.5 million USAID grant in 2023 to expand its insurance offering to smallholder farmers.
The shutdown of USAID funding represents a significant setback for the Kenyan startup ecosystem, which has thrived on foreign development aid. The loss of this funding could stifle innovation and growth in critical sectors such as healthcare and clean energy, making it imperative for stakeholders to seek alternative funding sources and advocate for policy changes that support the startup landscape.
