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The state in partnership with the Commonwealth Secretariat has started preparations for the forthcoming international innovation forum.
Dubbed ‘Kenya Innovation Week’, it seeks to bring together at least 15,000 delegates across the 56 Commonwealth member states to foster collaboration, exchange ideas and explore diverse solutions to the prevailing economic challenges.
It is scheduled between November 27 to December 1, this year 2023 at the Kenya College of Insurance in Nairobi.
The summit will also seek to celebrate the accomplishments from the previous Kenya Innovation Week as well as to share the opportunities that the event presents.
In his remarks, Prime Cabinet Secretary, Musalia Mudavadi, reiterated the aim of the forum to unlock new opportunities for the youth, entrepreneurs and innovators.
“We aim to achieve this by providing investment opportunities through pitches, opening new markets and initiating dialogue to create an enabling environment for innovation to thrive,” Mudavadi said.
The planned forums and side events that will take place during the Innovation Week include Youth and entrepreneurship summit, climate action summit skills and talent summit.
Others are the commercialization summit and the Commonwealth Angel Investment Masterclass which will focus on building skills and networks for angel investment in startups within the Commonwealth family.
Concerns about youth unemployment, and lack of relevant job skills among others, have been a significant impediment to the country’s progress in the past decade.
For instance, data by the Kenya National Bureau of Statistics (KNBS) shows the number of Kenyans without jobs increased to more than 2.97 million in the quarter to December 2022, reflecting the labour market woes.
It shows the number of jobless persons grew by about three per cent from 2.89 million in September.
“Young people below the age of 29, mainly secondary school and college graduates, were the hardest hit by joblessness,” KNBS says.
Faced with such grapples, Mudavadi says the forum poses a great opportunity for the country to unlock the possibility of wealth by improving productivity, enhancing efficiency and effectiveness, creating and scaling start-ups, as well as future jobs.
On his part, Youth Affairs, arts and Sports CS Ababu Namwamba said that the government remains committed to supporting the promotion of innovation in various dimensions.
“In our continuous efforts to create an enabling environment for innovation, my Ministry is collaborating with other ministries to deliver the groundbreaking legislation called the Startup Bill,” Namwamba said.
“The Bill seeks to create incentives for founders, startups, incubators and investors. By eliminating unnecessary bureaucratic hurdles, the Bill will also empower our young entrepreneurs to bring their innovative ideas to fruition and scale their businesses.”
He added that the state will be looking to leverage Innovation Week to announce the establishment of a National Innovation Center that will serve as a dynamic hub for collaboration, research and development.
“This will provide cutting-edge facilities, mentorship programs, and networking opportunities for innovators across various sectors.” BY THE STAR