The Ministry of Investments Trade and Industry in collaboration with Mount Kenya University has invited young people with various innovations to apply for exhibition and incubation opportunities sponsored by the Strengthening Kenya’s Innovation Ecosystem (SKIES) Business Incubation program 2024.
As per an advert posted on June 29, the opportunity seeks to unlock technical business support worth Ksh1 million.
The SKIES business incubation program will be offering a variety of opportunities ranging from agriculture, manufacturing/value addition, creative economy, health and digital technologies.
Moreover, guidance in expert support in fundraising, business development, intellectual property protection, business registration and legal compliance will be offered as well.
As per the announcement, the opportunity extends beyond young people and encourages all who would be interested to apply.
“People with disability, women, youth and marginalized groups are highly encouraged to apply,” a section of the advert read.
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Interested persons should register using the link https://shorturl.at/YCnQP before July 15, 2024, which is the deadline.
Strengthening Kenya’s Innovation Ecosystem, known as SKIES, is a sub-component under component 1 of the Kenya Industry and Entrepreneurship Project (KIEP).
It is funded by the World Bank Group and implemented by the Ministry of Investments, Trade and Industry (MITI).
The beneficiaries of this sub-component are divided into two tracks:
Track 1:
Consists of incubators, and accelerators, which will receive financial grants based on individual improvement plans.
Track 2:
Comprises technology boot camp providers and Rapid Tech Skills students.
The boot camp providers are supported through grants for scaling, while the students receive subsidies to cover their tuition fees.
“The project aims to benefit 20 beneficiaries for Track 1 and 16 beneficiaries for Track 2, along with 532 students who will receive scholarships for rapid tech skills training.
We are committed to ensuring regional balancing to represent the diverse face of Kenya among our beneficiaries,” a section of the SKIES website reads.
Additionally, the project subsidizes tuition costs for students in technology boot camps.
Kenya Industry and Entrepreneurship Project (KIEP)
The Kenya Industry and Entrepreneurship Project (KIEP) is a USD 50 million project implemented by the Ministry of Investments, Trade and Industry with support from the World Bank from 2018 to 2024.
The Project aims to increase innovation and productivity in select private sector firms.
This is in line with the Kenya Vision 2030 which is aimed at transforming Kenya into a newly industrialized, globally competitive, middle-income country.
By strengthening the innovation and entrepreneurship ecosystem and increasing firm-level innovation and productivity, this loan will help deliver Kenya’s Vision 2030, which recognizes the challenges of slow structural transformation and low productivity in sectors that employ the majority of Kenyans.
For more details contact [email protected].
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