By Grace Gilo
The government is using technology and innovation to create employment and address the unemployment challenge in the country.
Speaking during the launch of the 4th Kenya Innovation Week in Nairobi, the President stated that Kenya is increasing its investments in innovation to establish Kenya as a global innovation hub, while also supporting startup businesses and empowering the youth.
“Kenya is now a leading destination for global venture capital. It is important that we harness opportunities as part of our plan of making sure that we create adequate high-quality jobs for the young people of our nation,” he said.
He directed that the Kenya National Innovation Agency be moved from the Ministry of Youth Affairs, Creative Economy and Sports to the Office of the President.
President Ruto highlighted that positioning the agency in a central place will ensure effective leverage across the government.
Additionally, the President announced the establishment of a KSh1 billion Start Up Fund and pledged to propose to Parliament an allocation of KSh500 million for the Kenya National Innovation Agency.
He explained that increased funding for the agency will provide essential resources to mitigate risks associated with venture capital investments in Kenya, thereby enabling the commercialization of more innovative ideas.
The President underscored the need to actualise ideas into practical solutions, and thus address challenges in key sectors such as health, agriculture and security.
He reiterated the government’s commitment to supporting the Kenya National Innovation Agency.
The President pointed out that over the past year, Kenya has made remarkable progress in implementing the 10-Year Innovation Masterplan.
He said initiatives like the Research-to-Commercialisation Accelerator have supported 18 enterprises and raised over KSh100 million, while the Kenya Network of Entrepreneurial Institutions has empowered university leaders to drive entrepreneurial transformation.
“These are remarkable milestones which highlight the strength of our innovation ecosystem in delivering tangible results,” he said.
The President called on all stakeholders – government, the private sector, higher education and development partners – to remain steadfast in collaboration and intensify efforts to promote innovation.