President William Ruto has underscored the government’s commitment to leveraging technology and innovation to create jobs for Kenya’s youth. Speaking at the launch of the 4th Kenya Innovation Week in Nairobi, the President emphasized that innovation is key to transforming Kenya into a global innovation hub while simultaneously providing sustainable employment opportunities.
President Ruto outlined the government’s ongoing efforts to support startups, entrepreneurs, and young innovators by scaling up investments in technology. He stressed that positioning Kenya as a leading destination for global venture capital would significantly contribute to addressing the unemployment challenge. “Kenya is now a leading destination for global venture capital,” the President remarked, further emphasizing the importance of harnessing these opportunities to create high-quality jobs for young people.
The government has already made significant strides to support innovation through a range of initiatives. The President announced the establishment of a KSh1 billion Start Up Fund, which is intended to boost emerging businesses and entrepreneurs. Additionally, President Ruto proposed to Parliament an allocation of KSh500 million for the Kenya National Innovation Agency (KNIA). These financial commitments are geared towards creating an enabling environment for innovation and entrepreneurship, particularly for the youth.
A key element of the government’s strategy is the expansion of funding for the Kenya National Innovation Agency, which will help de-risk venture capital and support the commercialization of innovative ideas. “At the moment, we are unable to move many ideas into commercialization because of the limited resources available,” said President Ruto, acknowledging the funding gaps that hinder the growth of start-up businesses.
The President further revealed that the government has significantly increased funding for the KNIA over the past two years. When he assumed office in 2022, the KNIA had an annual budget of just KSh18 million. This budget was raised to KSh120 million in the subsequent year, and this year, it stands at KSh200 million. Such investments reflect the government’s recognition of innovation as a powerful driver of economic development.
Through initiatives like the Research-to-Commercialisation Accelerator, Kenya has already made remarkable progress in turning ideas into practical solutions. The accelerator program has supported 18 enterprises, raising over KSh100 million in funding, while the Kenya Network of Entrepreneurial Institutions has helped empower university leaders to drive entrepreneurial transformation. These efforts highlight Kenya’s growing innovation ecosystem, which continues to deliver tangible results in key sectors such as health, agriculture, and security.
President Ruto’s vision extends beyond national borders, as Kenya seeks to collaborate with international partners through initiatives like the Kenya-India Innovation Nexus and the Africa Innovation Agencies Network. These partnerships are designed to unlock new markets and develop transformative solutions that can address Africa’s unique challenges.
The President called for continued collaboration among all stakeholders, including government agencies, the private sector, academia, and development partners, to further strengthen Kenya’s innovation ecosystem. He encouraged all players to remain steadfast in their efforts to create a conducive environment for innovation and entrepreneurship.
Kenya’s focus on innovation and technology also aligns with the broader goals of creating a robust job market, empowering youth, and attracting investments. Nairobi Governor Johnson Sakaja, who was present at the launch, reiterated the need for innovators to turn ideas into practical solutions. “We must move these ideas into production and fix the wings as we fly,” Governor Sakaja said, urging the country’s innovators to experiment, refine, and scale their innovations for success.
Sports Cabinet Secretary Kipchumba Murkomen took the opportunity to challenge the youth to leverage online opportunities for economic empowerment. He urged young people to use digital platforms for positive engagement rather than spreading negativity on social media.
In conclusion, President Ruto’s leadership and strategic investments in innovation signal a new era for Kenya, one where technology, creativity, and collaboration drive sustainable economic growth and job creation. With the continued support of key stakeholders, Kenya is poised to emerge as a global leader in innovation, offering a brighter future for its youth and positioning the nation for long-term prosperity.
