Ethiopia aims to become African leader in startup innovation

Addis Ababa, April 6, 2024 (FBC) – Ethiopia is setting its sights on becoming a continental leader in startup innovation, a report claims.

Following the launching of the Startup Ethiopia Forum on Thursday in the presence of Prime Minister Abiy Ahmed, a panel discussion was held at the Science Museum on Friday.

Speaking on the occasion, Labor and Skill Minister Muferihat Kamil emphasized the government’s proactive approach in supporting startups.

The minister also stressed the crucial role of collaboration between government institutions, the private sector, and international partners in nurturing the young businesses.

Industry Minister Melaku Alebel pointed out on his part the strategic importance of startups, particularly those in the technology sector.

“ICT is among the top priorities of the economic sector, and these startups will catalyze progress in other sectors,” he added.

He also underscored the need for an enabling environment, including access to finance and international networks, to empower Ethiopian startups and contribute to the country’s economic development.

Innovation and Technology State Minister, Baysa Bedada said “the enabling conditions the government has been creating since the reform implemented has been creating fertile ground for startups in the country to increase into an impressive 900 from 50 before the reform a few years ago.”

The panel discussion also saw the participation of international stakeholders like the Global Startup Awards Africa and the Global Innovation Initiative Group.

Co-founder Jo Griffiths expressed her organization’s commitment to supporting Ethiopian startups.

“The Global Startup Awards Africa is the largest global independent competition in the world,” she explained, “and Ethiopia is the home set for the startup awards Africa for the next year.”

Griffiths elaborated on the various ways her organization will assist Ethiopian startups, including access to funding, mentorship, and international visibility.

Griffiths underscored the importance of a unified effort involving the government, private sector, startups, and innovation hubs.

“The only way you can have an enabling environment is through collaboration,” she noted.

With a supportive government, international partnerships, and a growing pool of young talent, Ethiopia is poised to become a significant player in Africa’s startup landscape, ENA reported. The upcoming events aim to solidify this vision by fostering connections, providing resources, and showcasing the potential of Ethiopian innovation to the world.