A five-year initiative dubbed Venture Meda, coordinated by the Mastercard Foundation, the Ministry of Innovation and Technology (MInT) of Ethiopia, and iceaddis, aims to increase employment creation in the nation by supporting companies with finance and other forms of acceleration.
The initiative, formally known as “Job Creation via Incubation and Acceleration Support in Ethiopia,” seeks to provide 56,160 young people living in poverty with direct employment opportunities by launching 100 e-commerce enterprises and 3,240 small businesses.
By giving seed money to at least 100 early-stage and growth-stage firms through incubation and acceleration programs, the initiative will also indirectly generate extra work possibilities for 77,000 young people.
All chosen startups will get seed capital, and ten businesses will each earn up to $50,000. Teams or businesses in Ethiopia that have an original concept for a service, item, or endeavor that can address a pressing issue are welcome to apply for free admission to the incubator.
The deadline for submissions is September 25.
