-Framework aim to position Ethiopia manufacturing hub
ADDIS ABABA-Ethiopia is set to empower startups by removing bureaucratic obstacles, fostering innovation, and nurturing bold ideas through its new startup draft proclamation, according to the Ministry of Innovation and Technology.
Innovation and Technology Minister Belete Molla (PhD) highlighted this initiative during the public consultation on the draft startup proclamation and the launch of the Timbuktoo call for applications yesterday.
The Timbuktoo Initiative, a transformative Pan-African effort, aims to elevate innovation across the continent. With a billion-dollar early-stage risk capital fund, it stands as the world’s largest endeavor to support Africa’s innovation ecosystem.
Focusing on sectors like fintech, agritech, and manufacturing technology, the project spans eight African countries, with Ethiopia joining as the ninth. Ethiopia’s emphasis will be on manufacturing tech startups driving innovation in robotics, AI, IoT, and related systems.
In collaboration with the Ministry of Industry, the initiative will establish the ManuTechHub, serving as a launchpad for startups shaping the future of manufacturing on the continent. It will provide entrepreneurs with mentorship, market access, and capital, empowering them to innovate and scale solutions addressing Africa’s challenges while seizing its immense opportunities, Belete stated.
Industry Minister, Melaku Alebel, emphasized that the public consultation marks a critical milestone in transforming Ethiopia’s entrepreneurial and industrial landscape, positioning the country as a leader in innovation and manufacturing. He noted that Ethiopia’s Homegrown Economic Reform Agenda and Ten-Year Development Plan set ambitious goals to become the continent’s manufacturing hub.
The vision extends beyond industrialization, aiming to support startups and leverage their potential to create sustainable economic opportunities. The draft proclamation represents a crucial step toward establishing a legal and institutional framework that enables startups to thrive in Ethiopia, fostering a conducive environment for innovation and investment.
Finance State Minister, EyobTekalign (PhD), noted that the policy direction demonstrates the government’s trust and commitment to the youth. He emphasized that recent years have underscored Ethiopia’s potential to become a startup nation, making it imperative to embark on collaborative efforts.
“With collaborative effort, startups can serve as engines for growth while supporting other sectors. Ethiopia has a significant opportunity to become a thriving hub for startups, given the undeniable passion, potential, and supportive ecosystem,” he remarked.
However, the state minister stressed that the success of the policy depends on the active participation of investors, development partners, policymakers, and other stakeholders.
BY BETELHEM BEDLU
THE ETHIOPIAN HERALD SUNDAY EDITION 24 NOVEMBER 2024
