Two startup projects with the highest scores in a project competition among startup competitors were awarded US$5,000 and US$3,000 each. The Ministry of Innovation and Technology, in collaboration with Tesfa ILG, a foundation based in Switzerland and presided by Mr Dawit Tesfaye, awarded financial prizes and certificates to the winning four startup competitors. LAFAIN, Omishu_Joy, Open Technology and Sheba Bio Technology and Grar Engineerin respectively presented their works from among the many competitors selected by the judges.
Dawit Tesfaye, President of Tesfa-ILG, rewards start-ups up to 5000 USD each.
The Honorable Minister of Innovation and Technology, Dr. Belete Mola, praised the high potential and commitment shown by startup projects for the development of the sector. He emphasized that the ministry will work to enhance the role of entrepreneurs in creating new job opportunities and providing the products and services that society needs. The collaboration with Tesfa-Ilg Foundation and the Swiss Ambassador to Ethiopia played a vital role in the success of the project by empowering the startups and enabling them to achieve their potential.
Dr. Belete Mola added that the award program showed the commitment of the Ethiopian government to create a policy environment conducive to innovation and entrepreneurship. He explained that these technology-based startups not only contribute to the economy but are catalysts for social change, job creation and technological advancement. He further pointed out that it shows the government’s determination to create a prosperous Ethiopia led by taking care of the sector and technological innovation.
Honorable Ms. Tamara Mona, Ambassador of Switzerland, praised the work done in the field, and the contestants pointed out the important role of startups in helping change the society and economic growth. She explained that this cooperation and partnership can build a prosperous Ethiopia by highlighting the sector. The projects were selected based on the set criteria, presentation and judges’ criteria, LAFAIN won the 1st prize, Sheba Biotechnology won the 2nd prize, Open Technology 3rd prize, Omishu_Joy won the 4th prize in the competition and received financial and certificate recognition.
The Honorable Minister of Innovation and Technology, Dr. Belete Mola
Furthermore, the Honorable Minister highlighted the award program as a testament to the Ethiopian government’s dedication to fostering an innovation and entrepreneurship-friendly policy environment. He underscored that these technology-based startups not only contribute to the economy but also act as catalysts for social change, job creation, and technological advancement. He reiterated his determination to nurture a prosperous Ethiopia by prioritizing the sector and technological innovation.
Ambassador Tamara Mona of Switzerland praised the work accomplished in this field, underscoring the crucial role startups play in driving societal transformation and economic growth. She emphasized that this collaboration and partnership have the potential to cultivate a prosperous Ethiopia by spotlighting the significance of the sector.
The four winning four startup competitors are:
- Lafain Startup, a start-up that is to be an alternate competitive gateway to a more efficient and profitable agricultural supply chain. It’s a company that serves the need of connection between farmers and retailers, connecting them through our digital system.
- Sheba Bio-Tech engineering Startup, a startup company established in 2021 in order to manufacture safe and cost-effective medical device which is used to support breathing for newborns with respiratory distress syndrome (RDS).
- Open Technologies Startup Solution, with its first product AIBBR, an Artificial Intelligent based hard book reciter for people with visual impairment that can recite the ordinary book that anyone can use to people with visual impairment with no or minimum interference (support) needed, thereby giving access to books and the privilege to read and study when and where ever they want to people with visual impairment and the illiterate part of our community.
- Omishtu-Joy agtech engineering Startup which has successfully designed an agricultural device that can accurately measure necessary parameters in the soil that will help to decide what crop will best suit for it and has successfully developed sophisticated Mobile application using Artificial intelligence technology that can recommend the best crop based on the data.
Tesfa-ILG foundation was setup in 2004 Zurich/ Switzerland, by Dawit Tesfaye as Initiator & President of the foundation and 5 High Swiss Personalities as the member of Board. The Tesfa ILG foundation, which has been involved in various projects in Ethiopia, with the aim of improving the economic, social and health situation of the people and the foundation has planned a support program for startup’s in Ethiopia as well. This program called STEP (Swiss Tesfa Ilg Entrepreneurs Program) was elaborated by Swiss entrepreneurs and is following a holistic approach to create an innovation ecosystem, for the moment with its location at Addis Ababa, Ethiopia.
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