Lupane, (New Ziana)-The introduction of innovation hubs at institutions of higher learning provides budding entrepreneurs with critical resources such as laboratories, mentorship, and cutting-edge tools to turn their ideas into market-ready solutions, a Cabinet Minister has said.
Minister of Women Affairs, Community, Small and Medium Enterprises Development Minister Monica Mutsvangwa said this while officiating at the Women in Business Association expo held in Lupane, Matabeleland North province on Tuesday.
She said the hubs are set to bridge the gap between academia and industry, fostering a culture of innovation and economic growth.
Since 2019, the Zimbabwe government has been spearheading the establishment of Innovation Hubs at tertiary institutions in the country to drive entrepreneurship, technological advancement, and economic development.
The hubs, which are influenced by global trends in startup incubation and the need for local solutions to socio-economic challenges, are designed to foster creativity, research, and problem-solving among students, academics, and industry players.
Through the Ministry of Higher and Tertiary Education, Innovation, Science, and Technology Development, the government has introduced a “Education 5.0” model, focusing on innovation and industrialization alongside teaching, research, and community service.
Lupane State University (LSU) focuses on rural development and sustainable agricultural innovations.
“These innovation spaces are creating vibrant ecosystems where creativity is encouraged and supported. They provide an environment where aspiring business owners can test and polish up their concepts,” said Mutsvangwa, adding that government was putting in place measures to support the growth of small and medium entrepreneurs (SMEs)s in the country.
“We are accelerating formalisation of small and medium enterprises (SMEs) through lessening bureaucratic processes during the registration process. The ministry continues to accelerate the simplification of business registration to foster a more conducive environment for entrepreneurs,” she said.
Mutsvangwa said her Ministry has also assisted numerous SMEs in completing registration with the Registrar of Companies, whose efforts she commended for digitizing procedures, cutting down on paperwork, and reducing turnaround times, ensuring a quicker and more transparent formalization process for small businesses.
She said the government introduced the formalization strategy to support and promote SMEs, recognizing the significant contribution of the sector to economic growth through job creation and the provision of goods and services.
New Ziana
