The Ministry of Labor & Skills and the Ministry of Innovation & Technology, in collaboration with the Entrepreneurship Development Institute, UNDP, and KOICA, have introduced the Next Ethiopian Startup (NEST) initiative. This nationwide effort, officially launched on October 23, 2023, aims to bolster and empower startups as a vital force in Ethiopia’s economy.
Under the NEST initiative, unveiled in the presence of Deputy Prime Minister and Foreign Minister Demeke Mekonnen alongside other key stakeholders, the focus lies on fostering risk-taking behaviors and cultivating a supportive environment for innovation across all stages of development. The initiative is structured around four pillars to achieve its objectives:
National Interaction, Development, and Support Platforms: This pillar centers on organizing conferences, workshops, exhibitions, and international events such as the Global Entrepreneurship Summit, slated to take place in the capital from October 25 to 27, 2023. These platforms aim to facilitate collaboration and networking within the startup ecosystem.
National Information Management System and Engagement Framework: Here, the emphasis is on developing integrated information management systems to serve as the primary source of information on the innovation ecosystem. This encompasses data on startups, high-growth businesses, national skill levels, technology and innovation, and intellectual property rights.
National Innovation Competition: This pillar provides a platform for various competitions across sectors, regions, and categories, including pitch decks, city innovation, and public sector innovation.
National Change Agents: These individuals champion transformative and innovative approaches to realize national agendas. Their role involves recruiting, developing, and empowering individuals passionate about advancing the agenda’s benefits. They advocate for change within organizations and communities, facilitating faster adoption of innovative practices.
The NEST initiative signifies a concerted effort to nurture and elevate Ethiopia’s startup ecosystem, with the ultimate goal of driving economic growth and prosperity through innovation and entrepreneurship.
