During the Kenya Innovation Week 2024, the East Africa Venture Capital Association (EAVCA) solidified its commitment to fostering innovation and entrepreneurship by signing a groundbreaking Memorandum of Understanding (MoU) with the Kenya National Innovation Agency (KENIA) and a consortium of leading universities in Kenya. This strategic alliance marks a pivotal moment in the nation’s journey toward building a robust and vibrant startup ecosystem.

The core objective of this MoU is to promote innovation and mobilize funding within academic institutions, empowering universities to become dynamic hubs for entrepreneurial programs. EAVCA, KENIA, and the participating universities will bridge the gap between academia and the private capital market. This partnership will focus on developing and implementing initiatives that nurture entrepreneurial talent, facilitate access to funding, and provide mentorship and resources to aspiring student entrepreneurs.

This MoU is a testament to EAVCA’s unwavering dedication to driving capital flows into the startup ecosystem. By leveraging our extensive investor network and advocating for favourable policies, we intentionally focus on mobilizing funds and creating sustainable growth opportunities. We believe that universities play a crucial role in nurturing the next generation of innovators, and this partnership will empower them to become vibrant centres of innovation, driving economic growth and creating lasting impact. The collaboration will explore avenues for joint research, curriculum development, and the creation of incubation and acceleration programs, ensuring that students have the necessary skills and resources to succeed in the competitive startup landscape. We are excited about the transformative potential of this partnership and look forward to working closely with KENIA and our university partners to build a thriving ecosystem for innovation in Kenya.

SOURCE: https://www.eavca.org/