COSTECH set to empower more FinTech and Start-up innovators

14May 2022
Francis Kajubi
The Guardian
COSTECH set to empower more FinTech and Start-up innovators

TANZANIA Commission for Science and Technology (COSTECH) has pledged to extensively focus on empowering FinTech and Start-up innovators in the country to enable youth explore their talents hence create job opportunities.

Addressing the press on Thursday in Dar es Salaam ahead of the Innovation Week 2022 to be held in Dodoma from next Monday to Saturday, COSTECH Director General Dr Amos Nungu said that young innovators in the FinTech and Start-up have a great possibility of creating jobs for their fellow graduates if are technically and financially empowered to execute their innovations.

According to him, the commission is expecting to extend the innovation week celebration to all regions of the country in 2023 as in this year the innovation week has been organized in only 15 regions.

“The aim of making sure that the innovation week is celebrated across the country is to give young FinTech and Start-ups to exhibit their innovations so that interested investors can chip in by funding their projects,” said Dr Nungu.

He asserted that COSTECH participates in various national exhibition events such as Sabasaba, Nanenane, Renewable Energy Days, and Annual General Meetings of Mathematics Teachers (AGM-MAT) and similar events.

From these events, COSTECH has been identifying innovative ideas and subjecting them through the aforementioned support processes.

The Ministry of Education, Science and Technology (MoEST) and COSTECH annually organize the event called “National competition for science, technology and innovation’ well known in Swahili as MAKISATU.

In MAKISATU, innovators undergo competition evaluated by a team of Judges. The best innovators are chosen for awards. All innovators that participate in MAKISATU are also subjected through the evaluation process.

“This year’s innovation week we expect to consider ten FinTech and Start-up innovators from the MAKISATU competitions who are linked to various giant innovation firms to facilitate their innovations,” he asserted.

This year’s innovation week is being celebrated under the theme ‘Innovation for sustainable development’. It has been organized by COSTECH, Ministry of Education, Science and Technology and Vodacom Tanzania as the main sponsor of the innovation week.