Business Incubation and Innovation Centers BIC: Play key role in Transforming the Business, Economy and Society

> Kasesh Chamber:
Business Incubation and Innovation Centers BIC: Play key role in Transforming the Business, Economy and Society

Embracing more than 17,000 business communities, Addis Chamber is one of the oldest and pioneer organizations in Ethiopia serving the business communities to thrive. As part of its mandate, Addis Chamber promotes trade and investment, disseminating business information, consulting and engaging members and government on various economic development and business issues.

Furthermore Addis Chamber provides knowledge based training for its members that aims to boost active service delivery and competitiveness.

The chamber that is undertaking massive reform measures aspires to strengthen the private sector through designing new projects in partnership with development partners.

In a latest project intervention Addis Chamber has launched the first of its kind Business Innovation Center (BIC) project that aims to enable existing and new incubators supporting high potential start-ups with an innovative business model addressing market needs and potentials in terms of job creation and income generation.

While addressing the gathering in his remark, Negusu Tilahun, State Minister of Labor and Skill said that the issue of unemployment in Ethiopia is a priority macro-economic agenda adding that there are more than 2 million skilled labor that joins the market annually and a national plan of action has developed for job creation to create at least three million jobs per year and to create an additional of ten million by 2030.

Various studies have witnessed that start up enterprises failure in Ethiopia is high like many other parts of the world, said the minister attributed to skill mismatch poor access to finance and very limited service delivery on the part of the government among others.

Such challenges can be solved by providing unwavering support to Business Innovation Centers at grass root level and reaffirmed his ministry’s commitment for further action.

In her remark, Mesenbet Shenkute, president of Addis Chamber, underlines that entrepreneurships one of the keys for expanding job creation to combat unemployment and in the country.

She also said that unemployment is still rampant in Ethiopia despite the various efforts undertaken by the government and private sectors in Ethiopia.

Such unique projects undertaken by Addis Chamber in partnership with development partners need the greater attention of the government for its success that ultimately envisions vibrant business ecosystem and economic growth, she further underscores.

The project that is incepted back in August 2021 set out to establish three new incubators in Ethiopia and the latest one, the Addis Chamber Business Incubation and Innovation Center, is anticipated to elevate the profile of Addis Chamber with regard to job creation and innovation, underpinned Shibeshi Bettemarim while addressing the gathering during the launching ceremony.

Commending partners of the project, the secretary general of Addis Chamber also pledges to cement lasting relationship with fifteen private academic and TVETs among others that are active in the country.

The newly launched BIC Project will conduct various value chain studies, and offer pre and post incubation service for various enterprises such as basic entrepreneurship, business planning and financial planning among others.

In order to raise public awareness and project success, public dialogue forum with key stakeholders as the issue of unemployment and related social problems is a malady of the Ethiopian economy and almost too late to act on it, warns the secretary general calling on the issue to be given special attention and concerted actions by all stakeholders reaffirming the commitment of his organization to curb socio economic challenges facing the country.

> Kasesh Chamber:
The BIC launching ceremony was also accompanied by panel discussion entitled with Unlocking Opportunities for Business Innovation Center has attracted panelists and key stakeholders to deliberate on the subject matter.