UNDP partners Norway in youth development

Post was last updated: May 24, 2018

The United Nations Development Programme (UNDP) has partnered the Royal Norwegian Embassy to support growth of budding entrepreneurs in the country.

Through a programme called Growth Accelerator, the two institutions will assist emerging entrepreneurs with financial and technical assistance to scale up their ventures. The identified entrepreneurs will tap from a $40,000 fund to boost their business.

The programme will be implemented by Malawi’s first innovation hub and incubator, MHub, in partnership with a pan-African company focused on the acceleration of local and international businesses, Growth Africa—Growth Frontiers and a Netherlands-based investment firm, Accesserator.

The Growth Accelerator market test will start as an entrepreneurship innovation challenge targeting start-up entrepreneurs with an innovative product or service on the market

The programme will also enhance acceleration of innovative, scalable, ambitious and impactful early stage Malawian enterprises, acting as a catalyst for the growth of the entrepreneurial ecosystem in Malawi.

UNDP Resident Representative, Maria Jose Torres, said supporting youth-run enterprises could accelerate economic growth in Malawi.

“Young people are innovative and energetic and their knowledge, reach and innovative solutions are essential for Malawi’s national development as outlined in the Malawi Growth and Development Strategy,” she said.

Minister of Industry, Trade and Tourism, Henry Mussa, said the project is in line with the government policy of creating employment for the youth.

Mussa said the project would complement government initiatives to develop the youth such as the community colleges programme.

In its pilot phase, in the next few months, between 10 and 12 young entrepreneurs will be selected from a national call for proposals.

Let us know what you think of this update and remember to add us on our facebook and follow us on our twitter. Make sure to come back daily for more Malawi business news updates.

Quick Links: Malawi Banking News | Malawi Technology News | Download Business eBooks | Ten Signs You Are An Entrepreneur | What is a Managing Director?

Today’s top business story: Top Commercial Banks In Malawi

Source link