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Technology and Science Minister, Felix Mutati, has stated that Africa is poised for a startup revolution, emphasising the importance of fostering innovation, creativity, and entrepreneurship across the continent.
Mutati highlighted initiatives like the TIMUBUKUTU project, which aims to raise US$10 billion to support startups during their riskiest phases, urging support for such ventures.
In announcing the “MineTech” Conference at his office on Wednesday, Mutati emphasized the need to increase the value of African startups, which currently account for less than two percent of the global startup market.
The MineTech Conference will be held in Lusaka at the Mulungushi International Conference Centre.
He noted that nearly 90 percent of startup capital in Africa comes from outside the continent, and the initiative seeks to create at least 10 million jobs through startups across Africa.
“Zambia is one of 10 countries selected to host a startup hub focused on mining innovations,” Mutati announced.
The conference will serve as a hub for mining innovations, drawing startups, creators, and innovators from across the continent.
Mutati noted that Lusaka would host the global influencers, investors, and industry players for the launch event at the Mulungushi International Conference Centre.
“The startup revolution aims to create a vibrant ecosystem across Africa, promoting innovation, entrepreneurship, and job creation,” he added.
Mutati further noted that the initiative has the potential to transform Zambia’s economy and contribute to the broader growth and development of Africa.
UNDP Resident Representative, James Wakiaga, expressed appreciation for Zambian government’s commitment to fostering innovation and supporting youth in creating sustainable solutions.
“Government’s investment in Science, Technology, Engineering, and Mathematics (STEM) schools is a strategic move that will increase the number of girls pursuing careers in science,” Wakiaga said.
UNDP has invested approximately US$6 million to establish the MineTech hub in Zambia, with the Zambian government contributing an additional US$3 million.
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