Six Tanzanian firms have been awarded a total of TZS85 million (US$52,500) under the country’s Innovation Fund, designed to support innovation as a means of boosting the economy.
The Innovation Fund for ICT innovation was funded by the TANZICTproject and is managed by COSTECH. It looks to provide funding for projects solving social and economic problems in Tanzania.
Speaking at the handover ceremony, the minister for science and technology Makame Mbarawa said: “Entrepreneurship is growing… we need youths to start their own companies and employ themselves.”
Mbarawa said the ministry was putting in place a strategy to provide innovation spaces for young techpreneurs, while the Department for International Development was putting in place another fund to drive innovation in water and health.
