The innovation Fund, which has been established to support innovation in developing the economy has awarded six companies over 85m/-. Speaking at the handover ceremony at the Commission for Science and Technology offices in Dar es Salaam, the Minister for Science and Technology, Prof Makame Mbarawa, said Entrepreneurship is growing, we need youths to start their own companies and employ themselves.
“The challenges of self employment are many and that is why young innovators have to take advantage, the government has demarcated innovation space on the fast internet service to drive young innovators’ ideas forward.” Professor Mbarawa said.
He said the Ministry has also put in place a strategy to ensure government organizations have innovation spaces for young people who engage in IT entrepreneurship.
The Department for International Development (DFID) is in the process of starting another fund to drive innovation in water and health sectors. The innovation Fund for ICT innovation is managed by COSTECH and set up and funded by TANZICT project. The fund is a competitive grant fund focusing on supporting ICT innovators, with innovative projects fostering solutions to social and economic problems in the country.
The Fund focuses on getting new ideas, products and services using ICT to demo, prototype or pilot stage, where the ideas can be tested in the market with end users and a feasible business model can be built around the idea or prototype. TANZICT opened the first call for applications for the innovation Fund last year in November and received 25 applications.
Finland has a focus on developing the information society, especially the wide-ranging knowledge in the society and public economy in Tanzania. ICT (information and communication technology) is seen as an instrument for access to information and services in remote areas.
Credit: Daily News