The five years since its founding, Somalian incubator SIMAD iLab has significantly impacted the local startup ecosystem. As a result, it has upgraded and broadened its offerings.
SIMAD University is a private university situated in Mogadishu, the capital of Somalia, and was established in 1999. It used to offer a variety of undergraduate courses, but five years ago it changed its mission to become a “entrepreneurial university” with a focus on “social impact”.
A tech hub named SIMAD iLab was established as part of this, and it has had a big impact ever since. Nearly 50 startups have been incubated by the innovation hub so far, and together they have raised over US $500,000, which is a significant sum in such a young ecosystem.
With assistance from DirectAid, it also oversees a $3 million microfinance fund.
As a result of its success, the hub has since grown, adding an executive space, a creative digital studio, an innovation theater, and a space specifically reserved for MSMEs and startups.
“Introducing SIMAD iLab was a new exercise that was very aligned with our mission of building an entrepreneurial university in Somalia. But what was more exciting was the impact and the numbers achieved in just five years. We really did not expect that quick win,” said Dr Dahir Hassan, the rector of SIMAD University.
“It just revealed how much the higher education sector was calling for transformations. This new expansion is a direct response to the increasing demand from the Somali youth to expand the reach, capability, and facilities of SIMAD iLab. We are now very hopeful the tech hub will continue to serve the Somali youth better and contribute to reducing the rampant unemployment crisis in the country.”
