University of Nairobi Marks Global Entrepreneurship Week

Prof Francis Mulaa,(2^nd Right)  Ag DVCRIE, UoN, awards an innovator, Wakazi Works at the Global Entrepreneurship Week Event, with Dr. Roselyne Kareithi and Dr. Sam Ruhiu. [Courtesy,Standard]

The University of Nairobi marked Global Entrepreneurship Week Kenya 2024 with a vibrant event emphasizing “Entrepreneurship is for Everyone.”  The annual week-long celebration brings together millions of people across the globe to celebrate entrepreneurs and inspire the next generation of business leaders.

In collaboration with Jasiri, AFRETEC Network, C4DLab, and the Kenya Chambers of Commerce & Industry (KNCCI), the event brought together a diverse mix of aspiring entrepreneurs, seasoned innovators, and industry experts for a day of inspiration and empowerment.

The day was characterized by 25 Start-up pitches to a panel of judges, insightful panel discussions on Kenya's innovation ecosystem on innovation and inclusivity, and keynote speeches. The planning committee announced that they had received applications from 55 different start-ups. 

The panel discussions saw technopreneurs talk about long-lasting, impactful solutions and the importance of validating business ideas to ensure market relevance and leveraging technology to aid underserved communities.

Mutie Mule, a computer scientist and co-founder of Solutech, emphasized the need for transparency and fairness in business practices.

“Working closely with the customers and aligning with their needs and expectations will ensure a positive customer experience. Business owners should also identify potential risks and ensure that projects are delivered on time and within budget,” he said.

While delivering his keynote address, the Chief Executive Officer of the Kenya National Chamber of Commerce & Industry, Ahmed Farah, underscored the critical role of entrepreneurship in driving economic growth and job creation. He challenged the youth to change their mindsets on investing in entrepreneurship.

“Entrepreneurship is the engine of economic growth,” Farah declared, adding that “supporting young entrepreneurs is crucial for our future. Every youth should embrace the business opportunities that come their way without fear.” 

Mr.Farah also noted that in the last year, Kenya has done better than most African countries in innovation efforts. 

“Kenya received a total of Sh 800M last year to scale innovation and entrepreneurship efforts. Our youth should, therefore, think creatively and be bold in their entrepreneurial endeavors”

Dr. Samuel Ruhiu, a senior lecturer at the University of Nairobi and mentor at the C4DLab, noted that “Entrepreneurship transcends age, background, and discipline. It’s a path open to anyone willing to dream, create, and persevere,” he said, highlighting the university's efforts in promoting an inclusive entrepreneurial ecosystem through specialized curricula, incubation labs, and mentorship programs.

John Icharia, the Program Lead for the Jasiri Growth Accelerator, echoed these sentiments in his presentation on “Market Creating Innovations,” stressing that “Identifying unmet needs is key to innovation” and “Sustainability should be at the heart of every business model.”

According to a 2023 report titled “The Big Deal,” Kenya's start-up ecosystem was ranked top among the distinguished 'Big Four' economies in Africa, alongside Nigeria, Egypt, and South Africa. According to the report, Kenya's portion of funding in Eastern Africa increased from 86 percent in 2022 to 91 percent in 2023. During this period, 93 Kenyan start-ups successfully secured over Sh 15.8 million in funding.