KENYA: $47k business incubation program soon

  1. Posted on Tuesday 26 April 2011 - 16:51
    Evans Wafula
    Image of Evans Wafula
    Evans Wafula, AfricaNews contributor in Nairobi, Kenya
    The School of Business and Public Management programme at Mount Kenya University is in the process of setting up a business incubation program with an initial Ksh.4million [US$47, 832] support from the board of trustees of the MKU in an effort to bridge the start-up capital gap that most enterprising graduates face upon graduation.
    Simon Gicharu
    Professor George Eshiwani, the Pro-chancellor of Mount Kenya University, called on the private sector to collaborate with local universities in developing research capacity and innovation.

    Speaking during the first International Conference for the Advancement of Business and Management Practice in Africa (ICABUMPA) 2011 organized by Mount Kenya University, School of Business and Public Management (SBPM) at the K.I.C.C, Prof Eshiwani urged private sector to take advantage of the incubation programme that will be offered by the University to facility research and innovation the continent.

    It was revealed that that only a handful of universities in Africa have embraced the incubation programme. The success of this ambitious programme will steer the school to join the ranks of most accomplished incubator programmes worldwide, joining the likes of the "Venture Out" programme at Lincoln University which was nominated for the Incubator Innovation Award at the NBIA's 25th International Conference on Business Incubation.

    In recognition of its mission, the School has set up a framework for the establishment of industry linkages and consultancies. In collaboration with the private sector, students are enabled to learn the skills to become leading entrepreneurs by getting hands on experience in the business world.

    The programme involves attachment, business trips and open forum with experts in academics and the industry which exposes them further to the market industry.

    Facilities

    The MKU prides of its state-of-the-art facilities and high quality teaching staff at the centre of academic excellence in the area of science and technology.

    “When the university’s foundation was laid, I was very clear in my mind about what we wanted to do. I note with pride and satisfaction that what started as a dream is slowly being transformed into a reality’. Said Mr. Simon Gicharu, MKU’s Chairman.

    He observed that the facilities at the University might not be enough, but that does not stop the students from getting the best out of the programmes offered at the university.

    “We are doing everything possible to improve the existing facilities as well as put up new ones to enhance learning and training”. Mr. Simon Gicharu.

    The hosting of the International Conference for the Advancement of Business and Management Practice in Africa (ICABUMPA) 2011 by the University is a clear indication that the university is destined to achieve excellence and is seeking to work closely with the government and the private sector to ensure that students gain more practical experience, as well as important values such as discipline, smart-thinking and punctuality to enable them meet their commitments.

    While presenting a paper on the ‘Emerging East Africa Capital Markets’ the chairman of the Rwanda stock exchange Dr. James Ndhairo, called for more collaboration between the private sector and institutions of higher learning. He called upon governments in the region to increased funding to institutions interested in undertaking research and innovation.

    “We must investments in human capacity for the economy to be sustainable. East Africa must enhance its ability to steer up innovation and open markets in order to realize economic growth”. Dr. Ndhairo said.

Reactions

  1. Posted on Tuesday 13 December 2011 09:17
    simoniddings
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    3 berichten
    Lid sinds December 2011

    Though the amount allocated for the business program might not seem much, any contribution to the existing system should help. The ability for students to gain practical experience in the field of business would enable them to handle real world problems in the future.

    Simon Iddings