ETHIOPIA CHAMBER TO LAUNCH BUSINESS INCUBATOR START-UP FOR YOUNG ENTREPRENEURS

The Addis Ababa Chamber of Commerce and Sectoral Associations or Addis Chamber is set to launch a Business innovation center next week as part of its bid to support young entrepreneurs and startups in Ethiopia.

The project – funded by the European Union – envisions strengthening the Ethiopian startups and SME incubation ecosystem, the Chamber said on Tuesday.

The Business innovation center will focus on promoting and supporting entrepreneurship, particularly micro-small and medium-sized enterprises (MSMEs) engaging in the Agri-sector and hybrid agri-tech sector.

Its “objectives (is) to promote the spirit of entrepreneurship in Ethiopia, create market linkages, provide capacity building and allocate seed money for start-ups,.. to mention a few,” the Chamber said.

The business incubator has allocated a 20 million Birr fund to support 500 start-up entrepreneurs in the coming four years.

Its officials say the project and its activities align strongly with the Ethiopian government to improve the ecosystem for start-ups and to improve the general business environment.

The Business innovation center will officially be launched on April 24 at the Capital Hotel in the presence of Senior Government officials, Policymakers, and representatives of development partners.

The inauguration program will include a panel discussion entitled ‘Unlocking opportunities from Business Innovation Centers’.

“This upcoming ceremony will create the platform for all stakeholders to meet and discuss business and investment opportunities in the country,” Addis Chamber said.

Addis Chamber, which has over 17,000 businesses as members, is the largest and oldest chamber of commerce in Ethiopia.

SOURCE: EthiopiaMonitor