During the Kenya Innovation Week 2023-Commonwealth Edition, the Chief Executive Officer (CEO) of the Kenya National Innovation Agency(KeNIA), Dr Tonny Omwansa, gave insights about the country’s ambitious 10-Year Innovation Masterplan, which was then officially launched by President William Ruto.
This strategic document aims to propel Kenya into an industrialized, middle-income status by 2033, underscoring the pivotal role of science, technology, and innovation in driving socioeconomic progress.
Dr Omwansa highlighted the agency’s pivotal role in spearheading Kenya’s innovation landscape.
“KeNIA, mandated to develop and manage the national innovation system, is on a mission to transform ideas into viable businesses, emphasizing the creation of startups and enterprises stemming from research and creative thinking.”
The agency underscores the significance of optimizing various components of the national innovation system, including funding, skills, technology, methodologies, innovation hubs, and the policy environment. Their objective is to foster the successful entry of numerous ideas into the market.
Amid a growing enthusiasm for innovation in Kenya, marked by over 100 innovation hubs and increasing startup funding, the agency shifted its focus to shaping the country’s innovation trajectory for the next decade.
“A collaborative effort with various partners led to the development of the 10-year innovation master plan. This comprehensive plan aims to identify challenges, strengths, priorities, and strategies to invigorate Kenya’s innovation landscape.”
Kenya’s Visionary Masterplan for a Knowledge-Based Economy
The recently unveiled 10-Year Innovation Masterplan serves as a comprehensive mission statement, outlining a strategic framework aimed at propelling the nation into a knowledge-based economy that paves the way for prosperity.
The masterplan strategically identifies five crucial pillars—Human Capital, Access to Finance, Access to Markets, Infrastructure, and Policy—as the foundation for this transformative journey.
1. Nurturing Human Capital:
A cornerstone of the masterplan, the Human Capital pillar prioritizes the development of relevant skills and expertise among the population.
The emphasis is on cultivating a highly skilled workforce capable of globally competitive participation in the knowledge economy, aligning with the evolving needs of the global landscape.
2. Strengthening Financial Support:
Recognizing the indispensable role of financial backing in sustaining the innovation ecosystem, the Access to Finance pillar advocates for increased funding to stakeholders.
This support extends from essential infrastructure development to the critical commercialization of knowledge outputs, ensuring a robust and sustainable innovation ecosystem.
3. Expanding Market Opportunities:
At the heart of the Access to Markets pillar lies the ambitious goal of expanding markets for knowledge economy outputs.
The masterplan envisions the creation of local market opportunities and the facilitation of regional and international market openings. This strategic approach ensures compliance with global quality standards, promoting the export of innovative products and services.
4. Robust Infrastructure and Regulatory Framework:
The Infrastructure and Policy pillars collectively form the backbone of the knowledge economy.
The Infrastructure pillar underscores the importance of both physical and virtual solutions, supporting the innovation ecosystem in producing high-quality outputs.
Simultaneously, the Policy pillar highlights the critical role of laws and regulations in providing essential guidelines within the innovation landscape, promoting governance structures and instilling confidence among stakeholders.
The masterplan outlines a tangible roadmap for action, complete with specific goals for each pillar.
It includes a comprehensive implementation plan and a monitoring and evaluation framework designed to ensure measurable progress over the next decade.
Additionally, the masterplan’s approach is built on four foundational principles—Collaboration, Adaptation, Experimentation, and Inclusion—creating a dynamic and inclusive innovation ecosystem.
The plan strategically identifies high-potential sectors, including Manufacturing, MSMEs, Health, Housing, Creative Economy, Renewable Energy, Agriculture, FinTech, BioTechnology, and the Digital Economy. This sectoral focus ensures that innovation goals are aligned with the specific economic and societal needs of the nation, fostering a targeted and impactful trajectory.
Addressing regulatory aspects related to startups, the agency highlights the importance of the pending Startup bill. Once the bill becomes law, hopefully by April 2024 according to President Ruto, KeNIA will take on the responsibility of operationalizing its provisions to effectively support the startup ecosystem.
Beyond the masterplan and Startup bill, the agency is implementing initiatives like an annual innovation index. This index assesses the contributions of universities, startups, accelerators, funding, research, and policy towards overarching innovation goals.
KeNIA emphasizes that innovation extends beyond building startups to creating positive change in various sectors. The call is for a mindset shift toward self-belief and resilience, with challenges viewed as opportunities for innovation.
“Kenya positions itself as a leader in the technology and innovation revolution, with the potential to generate new millionaires through entrepreneurship, metaverse, blockchain, and cryptocurrency trading.”
As Kenya navigates its course in the innovation landscape, the agency encourages individuals to embrace innovation as a lifestyle, turning challenges into opportunities for sustainable development and growth.
Embarking on this visionary 10-Year Innovation Masterplan, the nation stands on the verge of transformative change. The plan’s holistic approach and sectoral focus position Kenya as a frontrunner in technology and innovation, fostering sustainable development and growth.