The government of Uganda is set to establish an innovation fund to invest into young innovators in the country according to a report by The Observer.
This is expected to help nurture talent as well as create jobs for the country’s growing youthful population and also transform the country’s economy into a knowledge-based one.
Speaking at the fifth edition of the ACIA awards gala dinner held in Kampala, the papers reports the ICT Minister John Nasasira said:“My ministry has now developed a five-year ICT Sector Strategy and Investment Plan. Under the plan, an innovation fund will be established to assist young innovators.”
Nasasira added that ICT was one of Uganda’s Vision 2040 plan to create jobs and facilitate economic growth in the country. ICT innovations will help the country solve its local problems.
TechMoran has not established if this fund will be equity or debt-based but if this is true, it will help put the country’s innovators on the map.
