The Ministry of Innovation and Technology has announced that it is working diligently to create a favorable environment for startup growth in Ethiopia.
A draft proclamation aimed at establishing institutional and legal frameworks for startup development in Ethiopia has been presented to the public for discussion and feedback.
The primary objective of this draft proclamation is to stimulate the growth of the startup sector in Ethiopia by providing institutional and legal support.
Additionally, the draft proclamation focuses on addressing challenges faced by startups and facilitating access to finance.
Dr. Belete Mola, Minister of Innovation and Technology, emphasized that Ethiopia is undertaking various initiatives to support technological advancements and innovation as part of its efforts to overcome poverty.
The government's focus on private sector participation in the national economy has encouraged many entrepreneurs to join the market ENA reported. Startups are an integral part of this entrepreneurial wave.
Recognizing the significant role of startups, the government has drafted a proclamation to streamline procedures and encourage innovation.
This proclamation is expected to play a crucial role in fostering a thriving startup ecosystem in Ethiopia.