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US to establish business incubation centers at Bahir Dar, Debre Markos Universities

Addis Ababa, October 17, 2020 (FBC) – The US based Indiana University, with a 500,000 USD it gained from US Embassy in Addis Ababa is set to establish business incubation centers at Bahir Dar and Debre Markos Universities.

The incubations centers to be opened under the program entitled “Partnership in Business Entrepreneurship and Leadership Transformation” (PiBELT) will serve as model in supporting a stronger innovation ecosystem across the country.

“PiBELT is a tool for poverty reduction, job creation and good governance,” said Yibeltal Tarekegn Minwagaw, project co-director at Debre Markos University.

Getahun Yemata, project co-director at Bahir Dar University, said the partnership is not just a business venture but also a cultural exchange.

“The project is anticipated to bring improved awareness among students/trainees and leadership, improved entrepreneurship knowledge and skills, new businesses created, and improved capacity,” he said.

Getahun added that “Moreover, the collaboration is instrumental to access international experiences, knowledge and skills, and to share cultural and personal experiences and strengthen the link.”

Indiana University’s Vice President for International Affairs, Hannah Buxbaum, to her part, said the project will pave the way for longer-term engagement and creation of new opportunities for collaboration in Africa.

Over 12 weeks, young people from the universities and surrounding community will receive training in areas such as business modeling, sales and market analysis, and they will network with business leaders and mentors. Seed funding awards will launch the most promising business ideas.

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