- Gov’t initiates funding for startups
ADDIS ABABA–Startups have lauded the government for its recognition and support amid the launching of funding initiative in a move towards fostering technological advancement.
Innovation is critically important to nurture and support emerging technology companies with no or insufficient capital, startup companies said.
Among the startups showcased at the Startup Exhibition and Expo, Noliga Engineering Deputy CEO, Kassa Dejene said that the government’s stance towards innovation is supporting startups.
He believed that the Startup Exhibition and Expo provides platform for several companies to showcase their innovations and meet potential partnerships, according to Kassa.
Expressing his gratitude for the support, he said that the Ministry of Innovation and Technology (MinT)has funded his company.
Specializing in innovative energy generation technology, Noliga Engineering has developed new turbines capable of harnessing energy from small drainages and even regenerating power from water discharged by hydroelectric dams, he highlighted.
The versatility of this technology is its potential to provide electricity in regions with limited water resources, he said, adding that the wind energy generating technology has passed successful testing phases with the support of the Ministry.
Recognizedby MinT, the Deputy CEO noted thatall the facilities are approaching towards mass production.
During the testing phase, Noliga Engineering demonstrated the efficacy of its small hydro-electric generator, producing eight kilowatts of power from unpurified river water, a breakthrough that could potentially benefit up to ten households, he indicated.
Kassa underscored the affordability of the technology, making it accessible to a broader segment of the population.
Simbona Africa Healthcare PLC, Co-founder Hana Birhanu on her partappreciated the government’s vital technical assistance during the design phase of their clinical facilities, paving the way for mass production.
Attending the event last week, Prime Minister Abiy Ahmed (PhD)had stressed the government’s commitment to support technological startups and reaffirmedunwavering approach towards supporting innovation.
The MinT also introduced innovation fund frameworks aimed at empowering startup companies, signals a new era of technological advancement in Ethiopia, The Ethiopian Herald learnt.
BY YESUF ENDRIS
THE ETHIOPIAN HERALD WEDNESDAY 17 APRIL 2024
