Addis Ababa, August 3, 2024 (FBC) – The Ministry of Innovation and Technology of Ethiopia (MInT) has signed memorandum of understanding with the Japan International Cooperation Agency (JICA) to collaborate on building a startup ecosystem in Ethiopia.
The joint project, outlined in the detailed plan, is set to be executed over the next three years.
The primary objective of the project is to integrate Ethiopia’s startup development system with its global counterparts, nurturing startups and enabling them to expand their operations across various countries.
This initiative further aims to foster collaboration with investors, according to the Ministry.
Startups play a crucial role in driving economic growth by introducing novel products, modernizing services, and creating new employment opportunities and resources, as stated by Minister of State for Innovation and Technology, Bayisa Bedada.
Startups often encounter various obstacles and challenges during their development process. In light of this, State Minister Bayisa emphasized the significance of the Memorandum of Understanding (MoU) in providing tailored monitoring and support, thereby simplifying the startup ecosystem.
Meanwhile, Deputy Director-General of JICA Mr. Jun Saotome expressed that the Japanese government intends to initiate the implementation of the MoU shortly, by allocating necessary personnel and financial resources to execute the project in Ethiopia, Kenya, and Tanzania.
He stated that the Japanese government is committed to supporting the growth and expansion of Ethiopian startups. Mr. Jun further emphasized that the recently signed agreement will serve to enhance this support, thereby fostering the development of the startup ecosystem in Ethiopia.