UNDP strengthens support for young startups
DAR ES SALAAM: THE United Nations Development Programme (UNDP) has reaffirmed its commitment to empowering young startups by expanding access to funding, mentorship and capacitybuilding programmes aimed at helping them scale and deliver impactful solutions.
Through its Funguo programme, designed to catalyse innovation, drive economic growth and support entrepreneurs through funding and strategic partnerships the development organisation is significantly contributing to the innovation space.
Currently, the programme has invested approximately 5.2bn/- in start-ups across the country, supporting 61 ventures with growth catalytic funding. 20 students founded startups in 10 universities.
The Funguo Programme Manager, Mr Joseph Manirakiza, said on Monday the organisation remains steadfast in its mission to empower young innovators by creating an enabling environment that nurtures creativity and sustainable development.
“The programme continues to invest in the ecosystem such as building a health pipeline and support enterprise organisations both within and outside the universities,” said Mr Manirakiza during the launching of Future Ready Summit (FRS) organised by Vodacom Tanzania in partnership with UNDP and the Tanzania Commission for Science and Technology (COSTECH).
In addition, a new initiative ‘GreenCatalyst’ with funding from the Embassy of Finland, targets innovative MSMEs within the forestry value chain and will invest up to 1.5bn/- in MSMEs within the forestry value chain based in Iringa and Njombe regions.
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The FRS which also included a media symposium, had various topics discussed including media’s role in advancing innovation and entrepreneurship for youth employment.
In that, Stakeholders rose concerns on how local media outlets should adopt more creative and engaging methods when covering innovation stories to better connect with the youth in communities.
The UNDP’s Deputy Resident Representative Mr John Rutere urged that many current innovation reports lack depth and fail to engage wider innovation ecosystems, particularly start-ups and grassroots entrepreneurs which potentially limit the visibility and growth of emerging innovations.
“Innovation is about transforming economies and empowering start-ups, however young innovators may not yet be widely recognised due to the limited coverage,” he said.
Vodacom Tanzania’s Finance Director Ms Hilda Bujiku said that innovation and technology are shaping every part of lives, yet many of these young innovators remain unseen and unheard to public.
“We are seeing a powerful wave of youth-led innovation from fintech and agritech to climate solutions driving jobs, equity and digital transformation. Media have the power to change this by simply telling stories that inspire investment, trust and public engagement,” she said.
In addition, Ms Pendo Mrema, representative from Careerpath, an organisation providing entrepreneurship training to graduates stressed on the need for media to focus on inspiring innovation stories rather than mostly dealing with just trending stories.
“Too often, stories about celebrities what they’ve done or haven’t done get far more airtime than innovation stories. This diminishes the true value of innovation,” she said.
Azam Media’s Head of Digital Content, Mr Hassan Mhelela, said currently there is no unified vision, as the country experiences various shifts be it in agriculture or technology, thus adoption to such changes is vital for the media.
