Business Incubator Launches 5.5m Euro Project

Oct 15 , 2022

BIC Ethiopia launched a business incubator to be carried out in the next four years with 5.5 million euros, of which the European Union funds 90pc. Business Incubator Community Ethiopia - BIC Ethiopia - was officially launched last week with the presence of officials from the Ministry of Labour & Skills, Innovation & Technology, and delegates from the European Union (EU). BIC Ethiopia aspires to help start-ups and small businesses in the agri-tech sector, improving market access through capacity building, market access, and training.  Through financial and technical support, the project seeks to facilitate 15 business incubators, 700 start-ups, and 500 small businesses in four years. It wants to train 2,760 entrepreneurs. The project is expected to create 2,500 new jobs. The incubator capacity development program, the establishment of agri-tech and agri-business incubators, financing facility offers, and a holistic communication strategy outputs to be delivered through the project. BIC Ethiopia will implement the program, partnering with the Addis Abeba Chamber of Commerce & Industry, icehawassa, an incubation centre in Hawassa, Sidama Regional State, Growth Africa, and two non for profit organizations based in Europe: Menschen für Menschen and Adelphi gGmbH.