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{
    "id": 1506892,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1506892/?format=api",
    "text_counter": 396,
    "type": "speech",
    "speaker_name": "Kikuyu, UDA",
    "speaker_title": "Hon. Kimani Ichung’wah",
    "speaker": null,
    "content": "having a framework that will create that required linkage between the start-ups and our financial institutions, we will create a linkage between the many start-ups that are there and financial institutions and also other institutions that can incubate, including blue-chip companies, that can incubate some of those start-ups to grow up to be real and profitable businesses. Access to capital is not a problem just to start-ups. Even many growing businesses in our country have challenges in accessing capital. Therefore, it is important that we create a seamless linkage to financial institutions that will support start-ups and put their money behind ideas. What is lacking are people who have the appetite for risk, to risk in ideas and innovations. Those who have risked by investing in ideas and innovations have reaped very well. Therefore, when we create linkages between the start-ups, financial institutions and big corporates, we create an environment where people who have good ideas for start-ups can access capital and access a network of suppliers, a network of customers from other institutions and corporates, and even from the same financial institutions. They will link them up with potential customers for whatever idea, goods or services that they seek to give. This Bill will also facilitate investments in start-ups. Once we have a good legal framework that can support investments in start-ups, it becomes very easy for foreign investors to identify potential business start-ups in the country through which they can access our Kenyan market and the region at large. Clauses 4 and 5 of the Bill provides for the establishment of incubation programmes. The roles of the respective national and county governments are listed in clauses 4 and 5. Allow me to speak about the establishment of incubation programmes. This is largely seen as the work of the Ministry of Trade and Industry. I know that when we look at the establishment or investments like the Konza Technopolis, it is the Ministry of Information, Communication and Digital Economy that has been developing it. We have dubbed it our own Silicon Valley in the USA. This Silicon Savannah has become a case study not just for our region, but Africa at large. In future, it will be what the world will be speaking about. The start-ups that we will incubate in a place like Konza Technopolis and other places, will be businesses that will run the economies in Africa and the world economy in the future. I believe we have a very good base with many well-educated and innovative Kenyans, especially in the tech sector. I heard some Members, as I was listening in from the Office, saying that this Bill is too inclined to the tech industry. But that is because that is where most of our young people have skills. Almost all the innovations in our country are around the tech sector. I encourage our young men and women in the country to continue being innovative and we will continue to support them. With those incubation centres, we will grow businesses from a desk to become multi- billion-dollar companies with time. The incubation centres are not, as I said, centres that will just be based in particular ministries. We are also looking at having incubation centres right down at the county level. That is why the Bill stipulates the respective functions of both levels of government. With regard to the aggregation centres that were being done around the counties, and also the Special Economic Zones (SEZs) in Eldoret, Busia or Sagana, now county governments have an opportunity to use those special economic zones as incubation centres to grow businesses for our young men and young women. You do not need to leave Busia, for instance, to come and look for an incubation centre in Nairobi. With the county governments and the national Government working together, we can have incubation centres in the Special Economic Zone in Busia, Eldoret or Sagana, and even within the aggregation centres. That is because those start-ups are not just in the tech sector. Think about start-ups and innovative ideas around agro-processing. I can see the Member for Ainabkoi is very attentive. He knows the people of Ainabkoi in Uasin Gishu, the young men and women in Munyaka, can have start-ups around the agro-"
}