The winner of Nokia’s $1m Growth Economy Venture Challenge is Virtual City Ltd, a home-grown Kenyan company, their Mobile Distributor Solution is designed to improve the distribution efficiencies for small and micro enterprises in the Fast Moving Consumer Goods market. The 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.

A panel of experts judged their submission to be the worthy winner. John Waibochi of Virtual City Ltd receives a US $1 million in venture capital investment and a commitment of support from Nokia to help turn the idea into reality.

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 $5 / day, or an idea that recognizes a good business opportunity that also contributes to “doing good” in the world.

The award was presented at the end of the Nokia World Conference in London by Stephen Elop, the new boss of Nokia who takes over on September 20th.