Government urged to support business start ups and innovations.
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Date and time: 
Tue, 2016-08-02 18:25
Location / Venue: 

Serena Hotel

Government urged to support business start ups

The government has been called upon to support start up businesses and innovations in the country to realize any meaningful technological development.

This was the keynote message from Mr.  Avi Luvton, Asia Pacific Executive Director, Israel Innovation Authority who was speaking to key technology stakeholders and policy makers at the Serena Hotel  on August 2, 2016, being the second day of Nairobi Innovation Week.

According to Mr. Luvton, the Israeli government plays a leading role in the financing start ups at the early stage.  He said that Israel have over 5,000 start ups majority of them based at Tel Aviv, the innovation hub of Israel.

Several multinationals like Apple, Google, Amazon, Facebook, Microsoft, International British Machines, IBM, Hewlett-Packard, HP , among others have in the recent past established bases in Israel  and some have gone ahead and bought the start ups.

Some of the key factors contributing to Israel being the global leader in innovations include: lack of natural resources, security threat, lack of domestic market for its innovations and unique entrepreneurial spirit.

The Israel government and the private sector have a working collaboration that has been active over the last 40 years. The collaboration helps start ups with funding issues, partnerships among others.

The policy makers included: Youth Enterprise Fund, Konza City Technopolis, National Commission for Science Technology and Innovation, NACOSTI, Innovations Agency among others.

Going forward, it was agreed that several government agencies dealing with innovations need to work as one unit, the University dons should interact frequently with the innovators more frequently to help them with their innovations. 

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Expiry Date: 
Fri, 2017-08-04 18:25
Contact Person: 

Peter Oluoch