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{
    "id": 1506911,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/1506911/?format=api",
    "text_counter": 415,
    "type": "speech",
    "speaker_name": "Molo, UDA",
    "speaker_title": "Hon. Kuria Kimani",
    "speaker": null,
    "content": "Lastly, it establishes directories and most importantly, online platforms for ease of access of resources and information for the particular start-up. Clause 5 and 6 talk about eligibility and admission, where it says that start-ups must be registered entities in Kenya, such as private limited companies, partnerships or non- Governmental institutions. This is critical. It is similar to the debate that we had today and yesterday on the Public Procurement and Asset Disposal (Amendment) Bill, that is gives preference to Kenyans. We must love ourselves and make sure that the policies and decisions that we make, even as they support foreigners, must also support Kenyans first. This Bill is going to demonstrate innovation and scalability with its headquarters based in Kenya. Start-ups that are older than five years, subsidiaries or non-startup entities, are not eligible. This is also very critical so that start-ups that are older than five years, or entities as subsidiaries of already established entities, are not going to be allowed into eligibility as a start- up. Clauses 7 to 19 talk about the incentives that have been given to those start-ups, incubators and investors, where those start-ups will get subsidised registration, fiscal and non- fiscal support, research and development facilitation and, most importantly, intellectual property protection. We have seen many young people come up with ground-breaking innovations especially in technology. In fact, a few years ago, I met some young people and they claimed to have been the brain behind the National Education Management Information System (NEMIS) that is being used by the Ministry of Education and yet, they were never paid nor compensated. Someone else stole that technology and benefited. Therefore, the young people who worked hard for that intellectual property were denied their right. The Bill is providing for incubators, grants and aid for research, including tax concessions for equipment and facilities. Investors who invest in start-ups will be given tax relief on capital gains and investment losses, and also special visas for foreign direct investment. Clauses 8 and 10 are about registration and monitoring framework. There will be registrars who will maintain a database of those start-ups, issue certificates of registration and compliance. The registrars will be at the county level so as to decentralise access to registration and resources. There will be a start-up maturity framework that will tier start-ups based on readiness for financial and technical support. This is very key because we usually have very good programs, but they are domiciled in Nairobi."
}