Government urges universities to establish entrepreneurship centers in their campuses
The call for the establishment of entrepreneurship centers within universities has been made by Finance, Economic Development, and Investment Promotion Minister Professor Mthuli Ncube. Emphasizing the importance of these centers in nurturing entrepreneurs, Minister Ncube highlighted their role in providing training, facilitating collaborations, and guiding aspiring entrepreneurs in creating viable business plans. These centers are essential hubs within higher learning institutions that offer crucial support and resources to individuals looking to start their own businesses.
The main aim of these entrepreneurship centers is to foster entrepreneurial talent by providing mentorship, access to resources, and opportunities for collaboration. By connecting aspiring entrepreneurs with industry professionals, investors, and potential partners, these centers help drive innovation and stimulate economic growth. Minister Ncube praised the Government’s commitment to supporting startups and early-stage businesses through the National Venture Capital Company of Zimbabwe (NVCCZ). The NVCCZ was established to bridge the funding gap faced by startups and provide crucial funding and support to businesses with high growth potential.
Venture capital firms play a significant role in investing in early-stage companies with innovative ideas and disruptive technologies. These firms provide patient capital, mentorship, and strategic guidance to help startups scale up and compete globally. Minister Ncube commended President Mnangagwa for his advocacy of innovation and the establishment of innovation hubs at higher learning institutions. NVCCZ aims to collaborate with these hubs to identify and support promising entrepreneurs within these ecosystems and provide the necessary capital for their growth and success.
NVCCZ’s chief executive, Mr. Tinotenda Kambasha, highlighted the importance of venturing into the venture capital landscape to support entrepreneurs with innovative solutions to national challenges. By engaging with promising startups and investing in them, NVCCZ aims to contribute significantly to fostering a vibrant entrepreneurial ecosystem that drives economic growth and development. During the launch, three projects were showcased, including PureAid Agroprocessors, which processes tomatoes into powder to minimize post-harvest losses for small-scale farmers. KumbaCare, a telemedicine application founded by a final-year nursing student, aims to improve access to affordable healthcare in rural Zimbabwe. The third project, Mobility for Africa, is an electric scooter startup that aims to alleviate the burden of manual labor, especially for women.
In conclusion, the establishment of entrepreneurship centers within universities is crucial for nurturing entrepreneurial talent and driving economic growth. The support provided by these centers, coupled with initiatives like the NVCCZ, helps startups and early-stage businesses thrive and succeed. By fostering innovation, providing funding, and supporting promising entrepreneurs, the Government is committed to creating a robust entrepreneurial ecosystem that contributes to the country’s economic development and prosperity.
