UNIDO is implementing a project called “Business Incubators to Support Entrepreneurship and MSME Creation in Somalia,” funded by the EU. The project aims to create and improve economic opportunities and jobs for young women and men by delivering locally available technology-based and innovation-led business incubation services.
The project will support three business incubators in Somalia to establish an effective business incubation program, raise the quality and standards of delivery of the incubation program, and link these incubators for broader outreach to three distance service centers in an active effort to ensure that all project benefits are far-reaching across the entire Somali peninsula. The beneficiaries of the incubators will be entrepreneurs (early-stage start-ups or potential) with project ideas that will be incubated and (ideally) commercialized within the incubator in a period of around 9 to 12 months.
This project focuses on the agro-value chain, cross-cutting sectors like production and services addressing climate change, and promoting cultural heritage, including creative industries.