Ministry inaugurated Innobiz-K Ethiopia Incubation Center

Addis Ababa, March 22, 2024 (FBC) – Innobiz-K Ethiopia, the biggest incubation center in the ICT Park inaugurated today with the aim of creating jobs and fostering ICT oriented entrepreneurship.

Innobiz-K Ethiopia is an ICT based innovation center jointly managed by Ministry of Innovation and Technology and KOICA in incubating innovators and entrepreneurs to develop their innovative ideas,

Addressing the inauguration of the center, Innovation and Technology State Minister Baysa Bedada said the initiative of the incubation center demonstrates the country’s unwavering commitment for innovation and technology.

Ethiopia recognizes the critical role of science and technology and innovation as a catalyst for long-term development, to cultivate a flourishing ecosystem that fosters research, entrepreneurship and technological advancements, he affirmed.

“By integrating science, technology and innovation into its national agenda, Ethiopia seeks to build resilient institutions.

The country is also determined to   advance the green economy and foster an inclusive society ensuring that every citizen has equitable access to opportunities for growth and prosperity,” Baysa stated.

The state minister further noted that innovation centers are pivotal in driving economic growth and prosperity, serving as vibrant hubs for creativity, collaboration and technological advancement.

In a rapidly changing world, Ethiopia is committed to unlocking the nation’s potential by empowering innovators and entrepreneurs through fostering a culture of creativity, investing in research and building a robust digital economy, he pointed out.

Vice president of Korea International Cooperation Agency (KOICA) Dong Ho Kim said realizing Innobiz-K Ethiopia Incubation Center is a significant milestone in the effort to support entrepreneurs and ICT development in Ethiopia in general.

Through a sustainable and collaborative partnership, the Center will be a game-changer, it was indicated.

Moreover, Innobiz-K Ethiopia Incubation Center is expected to serve as a key hub for startups and innovative businesses built to realize a strong national startup ecosystem, per ENA.