Ethiopia Striving For Expanding Startup Ecosystem: State Minister

The government is increasingly seeking to broaden startup ecosystems and encourage innovation in Ethiopia, State Minister of Finance Eyob Tekalign said.

“Startup Ethiopia Exhibition” was launched today at the Science Museum in the presence of high-level government officials including Labor and Skill Minister Muferihat Kamil, Minister of Industry Melaku Alebel, Innovation and Technology Minister Belete Molla, and others.

The exhibition will be open to the public starting from 8th April 2024 and will end after 21 days, it was indicated.

Currently, Ethiopia’s startup has been witnessing pivotal legal and policy reforms, heralding a new era for the country’s startups and entrepreneurs.

Speaking at the opening ceremony of the exhibition, Finance State Minister Eyob underscored that the nation has prioritized startup innovation to make Ethiopia a country of entrepreneurs.

According to Eyob, Ethiopia has tremendously skilled youth in science and technology as well as mathematics and engineering who can solve problems and create wealth.

In this respect, the state minister noted that the government of Ethiopia has paid special attention to creating a favorable environment for startups that would support these innovative young people.

He also explained that the exhibition aimed at encouraging young Ethiopians with new technological ideas to share their experiences with others.

The exhibition has also played a paramount role in promoting the Ethiopian startup ecosystem and cultivating the innovative ideas of these youth, Eyob revealed.

He also stressed the need for empowering entrepreneurs in startups and supporting them in terms of policy as well as finance to succeed.

In the exhibition, the entrepreneurs have been presenting their ideas and displaying products that could solve problems and bring about results in agriculture, health, education, energy, industry, finance, and other sectors,  Eyob indicated.

The state minister further stated that the government is carrying out various activities including facilitating access to funds to expand the startup ecosystem.

Eyob also called on investors to do their part by supporting these startup initiatives in Ethiopia.

Ethiopia has made reforms over the past five years, designed to cultivate an environment conducive to youth entrepreneurship and innovation, ENA reported. The “Startup Ethiopia Forum’’ was held in the presence of Prime Minister Abiy Ahmed at Adwa Victory Memorial Museum on 4th April 2024, it was indicated.

In a recent post on X, Prime Minister Abiy Ahmed stated: “Startup Ethiopia aims to cultivate an environment conducive to youth entrepreneurship, fostering innovative problem-solving businesses. Recognizing the youth as the nation’s engine brimming with innovative ideas, policy support for the ecosystem is vital to translate these ideas into reality.”

‘Startup Ethiopia Exhibition’, a national event hosting over 900 participating startups, commenced at the Science Museum in Addis Ababa this morning, it was learned.

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