Ethiopia Builds Wealth for Tomorrow with Startups as the Universal Engines in the Growth and ...

27th Jun 2024 | Source: The Loudhailer

<div style="text-align: left; text-indent: 0px; margin: 1em 0px; font-family: Aptos, Aptos_EmbeddedFont, Aptos_MSFontService, Calibri, Helvetica, sans-serif; font-size: 14pt"><span style="font-size:14px"><span style="font-family:times new roman,times,serif"><span style="color:#000000"> As the host nation of the </span><span style="color:#467886"><u><a class="v1v1x_x_x_x_x_x_x_x_x_OWAAutoLink" href="https://www.globalstartupawardsafrica.com/" id="v1v1OWA54f9f719-d185-358a-b013-eba848eea8c8" rel="noreferrer" style="color: #467886; margin: 0px" target="_blank">Global Startup Awards Africa</a></u></span><span style="color:#000000">, Ethiopia launched the inaugural national Ethiopian Startup Awards on 3rd June 2024 at the </span><span style="color:#467886"><u><a class="v1v1x_x_x_x_x_x_x_x_x_OWAAutoLink" href="https://edi-ethiopia.org/" id="v1v1OWA06a1fec8-4b69-a90b-52ab-cf21d7e7ca54" rel="noreferrer" style="color: #467886; margin: 0px" target="_blank">Entrepreneurship Development Institute (EDI)</a></u></span><span style="color:#000000">. This follows the success of the Global Startup Awards Africa Summit held in October 2023 in Addis Ababa and forms an integral part of the national agenda to prioritise innovation and entrepreneurship for the next 10 years of implementing the country's prosperity roadmap. </span></span></span></div>

<div style="text-align: left; text-indent: 0px; margin: 0cm; font-family: Aptos, Aptos_EmbeddedFont, Aptos_MSFontService, Calibri, Helvetica, sans-serif; font-size: 14pt; color: #000000"><span style="font-size:14px"><span style="font-family:times new roman,times,serif">This year's Global Startup Awards Africa 2024 competition garnered 11,900 entries from across Africa, with Ethiopia contributing 24% of the Eastern region's entries. Notably, Ethiopian startups showcased remarkable growth in participating in the awards with a 400% growth in applications since 2023, underscoring the nation's progress in fostering an empowering startup ecosystem and advancing its role as a hub for innovation and development. Compared to other African nations, Ethiopia stands strong with the most entries in the AgriTech and Youth categories.</span></span></div>

<div style="text-align: left; text-indent: 0px; margin: 0cm; font-family: Aptos, Aptos_EmbeddedFont, Aptos_MSFontService, Calibri, Helvetica, sans-serif; font-size: 14pt; color: #000000"><span style="font-size:14px"><span style="font-family:times new roman,times,serif">The awards were a collaboration between the <span style="color:#467886"> <u><a class="v1v1x_x_x_x_x_x_x_x_x_OWAAutoLink" href="https://giig.africa/" id="v1v1OWA75beb381-fa52-39d2-240f-d8b54b1a3cc6" rel="noreferrer" style="color: #467886; margin: 0px" target="_blank">Global Innovation Initiative Group (GIIG)</a></u></span>, the Ethiopian Ministry of Labor and Skills (MOLS), the Ethiopian Ministry of Innovation and Technology (MInT), and the Entrepreneurship Development Institute (EDI) Ethiopia supported by the Development Bank of Ethiopia, Ethiopian Airlines and EthioTelecom.</span></span></div>

<div style="text-align: left; text-indent: 0px; margin: 0cm; font-family: Aptos, Aptos_EmbeddedFont, Aptos_MSFontService, Calibri, Helvetica, sans-serif; font-size: 14pt; color: #000000"><span style="font-size:14px"><span style="font-family:times new roman,times,serif">Emphasizing the Ethiopian government's commitment to promoting growth in the startup sphere, Her Excellency Muferihat Kamil Ahmed, Minister of Labor and Skills said<em>, "Ethiopia is pursuing an economy led by creativity innovation, and knowledge." </em>she shared<em>. "The Global Startup Awards is platform to enable people to realise their full potential. This year if we could arm our children with enough resources, if we could prepare them psychologically and through mentorship, we could make it that they not only compete, but compete to win," concluded H.E. Muferihat.</em></span></span></div>

<div style="text-align: left; text-indent: 0px; margin: 0cm; font-family: Aptos, Aptos_EmbeddedFont, Aptos_MSFontService, Calibri, Helvetica, sans-serif; font-size: 14pt; color: #000000"><span style="font-size:14px"><span style="font-family:times new roman,times,serif">The event served as a vital convening platform, showcasing the local innovation ecosystem to peers, key industry experts, and government officials. It facilitated collaboration and forged connections to drive growth and innovation. With a dynamic, energetic program designed to inspire creative and ambitious ideas, the event introduced new ways of thinking big and provided global insights.</span></span></div>

<div style="text-align: left; text-indent: 0px; margin: 0cm; font-family: Aptos, Aptos_EmbeddedFont, Aptos_MSFontService, Calibri, Helvetica, sans-serif; font-size: 14pt; color: #000000"><span style="font-size:14px"><span style="font-family:times new roman,times,serif">Jo Griffiths, Co-Founder of the GIIG Africa Fund, emphasized, "'Think Big' is a call to action. It challenges us to transcend conventional boundaries, to dream audaciously, and innovate relentlessly. Thinking big is not just an ambition. It's about responsibility. It's about recognizing that our ideas have the power to shape societies, influence economies, and create a legacy for generations to come."</span></span></div>

<div style="text-align: left; text-indent: 0px; margin: 0cm; font-family: Aptos, Aptos_EmbeddedFont, Aptos_MSFontService, Calibri, Helvetica, sans-serif; font-size: 14pt; color: #000000"><span style="font-size:14px"><span style="font-family:times new roman,times,serif">Following the event, Blen Hailu, CEO & Co-founder of startup Kabba Transport, commented. "Incredible experience at the Ethiopian Startup Awards by Global Startup Awards Africa! The energy was amazing, and the sessions were packed with valuable insights, from AI-powered ideation to securing startup funding. It was truly a hub of innovation and inspiration."</span></span></div>