Govt plans start-up fund with private sector

March 17, 2014
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Information, Communication and Technology Cabinet Secretary Fred Matiang'i' says they are preparing to hold a national consultative forum with venture capitalist and financial institutions/FILE
Information, Communication and Technology Cabinet Secretary Fred Matiang’i’ says they are preparing to hold a national consultative forum with venture capitalist and financial institutions/FILE
NAIROBI, Kenya, Mar 17 – The government is working on developing a policy framework that will assist in its partnership with the private sector to form a start-up fund to help innovators scale up.

Information, Communication and Technology Cabinet Secretary Fred Matiang’i says they are preparing to hold a national consultative forum with venture capitalists and financial institutions in order to pool resources for the fund.

“A framework is being developed and we hope in the next three months our framework will be ready and we can invite the private sector to work with us because this is the only way we can support Kenyan innovators. We have quite a number of them who have challenges,” he said.

He said his ministry is also planning to assist innovators to market their products especially to county governments.

“Some of the innovations could really help county governments in collecting revenue among others. We will begin to market these innovations to them through County ICT executives,” he stated.

He also revealed that the government plans to release a new spectrum policy that will outline its plans to support the building of Long Term Evolution (4G) network that will enhance access to affordable Internet services in the country.

He said that the spectrum policy will be available to the public for review in a week’s time.

He added that the government is going to work on a public private model in building the 4G network.

“Spectrum is a national resource and government can only develop policy for management various sectors of society should share their views on how the government should be manage the spectrum,” he said.

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