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{
    "id": 1262168,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1262168/?format=api",
    "text_counter": 253,
    "type": "speech",
    "speaker_name": "Sen. Crystal Asige",
    "speaker_title": "",
    "speaker": null,
    "content": "Thank you, Mr. Speaker, Sir. I beg to move that the Start-Up Bill (Senate Bills No. 14 of 2022) be read a Second Time. Mr. Speaker, Sir, technology and technological innovations are set to be the biggest contributors of economic development in the next few years. In most cases, they grow from innovative ideas and come into the market as startup businesses, which have exponential growth potential owing to their digital nature. Currently, startups provide rich entrepreneurship avenues, especially to the youth, thus empowering them to source local talent and in turn reduce unemployment. They also contribute to the growth and collaboration between professionals with various backgrounds, the continual development of the cities and localities where they are established, encourage creativity and ingenuity. This contributes to the overall economic growth of our country. Reports show that 92 per cent of Africa's investment in technology is heavily in four countries; that is Nigeria, Egypt, South Africa and Kenya. This is because of their sizable populations and Gross Domestic Products (GDPs) that make them attractive destinations for investments. In 2022, Kenyan tech startups raised over US$570 million in funding alone. Indeed, Kenya is recognized as the Silicon Savannah by virtue of it being a host to a number of reputable startups that have advanced to become regional and global signatures. For instance, M-Pesa, at its founding, led the world in mobile money innovation. Other brands---"
}