KOICA Country Director Han Deog Cho has reaffirmed the agency’s commitment to supporting startups in Ethiopia to foster sustainable socio-economic development. With a focus on encouraging basic development and startup initiatives, KOICA is dedicated to creating a conducive environment for innovative ventures in the country.
Cho commended Ethiopia’s progress in innovation, technology, startups, and artificial intelligence, noting a significant increase in the number of startups from 50 to over 900 since the recent reforms. He emphasized the importance of startups in driving business opportunities and economic growth, highlighting the positive impact of young innovators in job creation and social development.
KOICA’s ongoing projects in Ethiopia include a 10-million-USD initiative aimed at providing support to startups through capacity building, financing mechanisms, and incubation systems. The agency plans to further strengthen its assistance to startups in Ethiopia by implementing follow-up financing mechanisms and continuing to support the growth of innovative ventures.
As Ethiopia continues to embrace a culture of entrepreneurship and innovation, KOICA remains committed to playing a pivotal role in supporting the country’s startup ecosystem. The agency’s efforts are poised to contribute to the creation of sustainable businesses, the generation of income, and the overall development of the Ethiopian economy.
