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{
    "id": 1506890,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1506890/?format=api",
    "text_counter": 394,
    "type": "speech",
    "speaker_name": "Kikuyu, UDA",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": null,
    "content": " Thank you, Hon. Temporary Speaker. I rise to support the Start-up Bill. Let me begin by thanking Hon. Mayaka and another Senator, who are the co-sponsors of this Bill that came from the Senate. Hon. Irene, this is the way to go because you are a young person and many of those start-ups are businesses that are owned and ran by the young people. They are owned and run by young and innovative people in our country who lack job opportunities in the formal economy. With those start-ups, they can become employers themselves and not just seek employment in other big corporates. The start- ups that we are supporting with this Bill by creating a legal framework to support them are what will become tomorrow's blue-chip companies. I have heard Members who have contributed ahead of me giving the example of the innovators of M-Pesa and what it has become today. Imagine if we had this law at that time. The young people who innovated M- Pesa and other many good innovations would have been protected from their innovations being grabbed by huge companies around the world. Today, they would been captains of industries in whatever sector they have innovated. One of the key objects of this Bill is to foster innovative thinking and entrepreneurship in our country. As I said in thanking Hon. Irene Mayaka, the innovative people are mainly the young entrepreneurs of our country who we will support through this Bill. Secondly, it seeks to promote an enabling environment for the establishment and development of a business environment and also a regulation framework for our start-ups. The Bill also seeks to create linkages between start-ups, financial institutions and other institutions in the country and outside the country. One of the major handicaps that many start- ups face is not having access to capital. That is because those start-ups are started by young people who have no collateral to offer to banks and other financial institutions. They lack the capital to grow their innovative ideas into income earning or profitable ventures. Therefore, by"
}