Somalia has launched a national startup network to connect entrepreneurs, innovation hubs, public institutions and investors, with the goal of improving collaboration and access to mentorship, business support and funding opportunities.
The network was unveiled during the BIC Somali Innovation Forum as part of the BIC Somali Project, funded by the European Union and implemented by the United Nations Industrial Development Organization (UNIDO).
Its launch was formalised through a memorandum of understanding signed by iRise Hub in Mogadishu, SIMAD iLab and HarHub in Hargeisa. The three organisations will establish a community of practice, coordinate startup support and work toward more consistent incubation approaches across Somalia.
The initiative builds on BIC Somali programmes that have received more than 3,600 applications, trained around 500 entrepreneurs and supported more than 200 startups through incubation programmes, according to the announcement.
The network comes as Somalia faces a significant employment gap. Around 500,000 young people enter the labour market each year, while the economy generates approximately 80,000 new jobs annually. The initiative aims to strengthen private-sector development by helping early-stage companies build sustainable businesses and create jobs.
The Somali government is also working on intellectual property legislation intended to strengthen protections for innovators and businesses.
Source: Arab Founders
