Ethiopia Working to Create Conducive Ecosystem to Help Startups Enter Market

Addis Ababa April 12/2024 (ENA)The Government of Ethiopia has been carrying out activities to help startups enter the market exponentially by creating a conducive ecosystem, according to Ministry of Innovation and Technology. 

A three-week "Startup Ethiopia Exhibition" opened at the Science Museum in Addis Ababa on Monday with the goal of fostering business linkage between investors and startuppers, and identifying ways of providing support. 

Startuppers engaged in various fields, including information technology, agriculture, health, education, industry and finance are participating in the exhibition.

Innovation and Technology State Minister Bayisa Bedada told ENA that the government has been carrying out activities with a view to helping startups in the country enter rapidly the market by creating conducive ecosystem. 

In order to accelerate the digital economy, science, technology, engineering, and mathematics have received a lot of emphasis in the country's education policy.

The rapidly expanding digital online services in the country play positive role to increase the number of startups entering the market, he added.  

   According to the state minister, efforts are underway to help startuppers become successful by exploiting the existing opportunities as per the direction given by Prime Minister Abiy Ahmed.   

While a policy and support system have already been established, support frameworks are currently being implemented through a short-, medium-, and long-term plans, Bayisa stated.

The stated minister believes that the support frameworks put in place in the country attract startups of other countries too. 

“The measures being taken by the government in terms of policy, support and incentives are important to strengthen startups not only in the country but also to attract foreign startups and international investors.”    

The government is making a concerted effort to foster a startup-friendly atmosphere in the country by offering essential resources, including funding, workspace, and technical assistance, he further revealed.

The state minister finally stressed that efforts will be intensified to help startups enter the market as their contribution to job creation, productivity in agriculture, industry, and tourism, among others, is crucial.

  There are more than 900 start-ups in Ethiopia.