Nine smart cities from seven countries have signed a Memorandum of Understanding (MOU) with Konza to boost startups.
The MOU, dubbed INCHEON Smart City Summit Initiative, was signed up with Incheon Free Economic Zone Authority of Korea, Zamfara State and Benue State both from Nigeria, Dakar City, Senegal, Lukumo City and Lusaka City of Zambia, Mumbai Metropolitan Regions Development Authority of Maharashtra, India and Deoria City from Uttar Pradesh.
Kenyan startups stand to benefit following the signing of the above memorandum between Konza Technopolis and nine other smart cities which will see collaboration in the development of sustainable and innovative smart city ecosystems through targeted support for the startups, enhanced bio-industry capabilities and global partnerships.
“The MOU aims to bolster the development of Smart Cities through targeted support for startups, enhanced bio-industry capabilities and global partnerships to create sustainable and innovative Smart City ecosystems,” Konza Technopolis CEO, John Paul Okwiri said.
Also Read: Konza Signs Deal with Korean Firms to Establish $1.4 Million Electronics and IT Centre
The MOU to Achieve Various Objectives
The MOU will see the smart cities pursue several objectives including the exchange and collaboration of startups by providing startup spaces to operate and grow.
In addition, it will offer the necessary infrastructure and facilities, recruit skilled personnel to drive innovation and operational excellence, organizing the Startup Idea Competition to encourage innovative ideas and solutions in various fields such as healthcare and biotech industries, and fintech.
“These competitions offer a platform for new entrepreneurs to present their concepts and receive support for implementation”, Okwiri said.
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To track progress, the participating cities will engage in regular communication and meetings to discuss challenges encountered and opportunities available to the startups.
Moreover, they will share data, insights and best practices to facilitate mutual learning and collaboration and allocate resources and support for the implementation of the actions agreed upon.
Also Read: How Kenya and Ghana Compare in Terms of Development
Konza Technopolis Project
Konza is a key flagship project of Kenya’s Vision 2030 economic development plan. The project aims to make a world-class city, powered by a thriving information, communications and technology (ICT) sector, superior reliable infrastructure and business friendly governance systems.
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