By Moses Michira
NAIROBI, KENYA: Kenyans with promising innovative ideas will have an opportunity to transform their dreams into business enterprises when Kenyatta University (KU) launches its Incubation Centre, next month.
The university’s plan to nurture business ideas among ordinary citizens is unique among local institutions of higher learning, with most limiting the training and mentorship offering to their own students.
KU Vice-Chancellor Olive Mugenda says they would reserve at least a quarter of the places to Kenyans who meet the strict selection criteria on viability and affordability. “It is our intention to reserve between 25 and 30 per cent of the chances to brilliant ideas from the public,” Prof Mugenda said, adding the successful candidates would be housed by her institution on request.
The Incubation Centre is a multi-million shilling learning facility, built with grants from the Manu Chandaria Foundation, with an annual intake projected at 25 students but could be raised depending on demand.
The Chandaria Foundation has invested about Sh50 million in developing and equipping the Chandaria Business Innovation and Incubation Centre, where new ideas would be developed for periods between six months to one year. The approach to admit non-students to the business Incubation Centre, according to the VC, was informed by the number of potential entrepreneurs whose ideas end up wasted for lack of nurturing opportunities and funding. The centre, which took off three years ago, is set for formal launch in May, promising to alter the landscape of higher education in Kenya, especially in business related professions.
Other universities like the State-owned University of Nairobi and Strathmore University have since launched their incubation centres, offering opportunities for potential entrepreneurs to nurture their business ideas.
The incubation centres idea is a major shift on university education that is now focused on preparing graduates to take up roles in entrepreneurship rather than job seekers in an environment where graduates are finding it hard to secure jobs. Mugenda says KU is keen on producing graduates ready for employment by providing the requisite skills needed by the labour market, and entrepreneurs who could create jobs themselves.
“We expect the incubation centre would enable KU produce fully-baked graduates and even, potential employers to tackle joblessness.”
Among the facilities the trainees would expect to be granted include a working station, access to libraries and even seed capital for their business venture while under incubation.
It is projected the faculties of business and economics would offer the curriculum and professors who will take the trainees through the theories of enterprise management while established industrialists would provide mentorship. Manu Chandaria, the patron of the incubation centre, is one of the seven locally established businessmen whose services KU has enlisted and would be expected to spare more than six hours a week to meet the students.
Others are Chris Kirubi, the Chairman of Haco Industries, and media mogul Samuel Macharia. The VC projects that a success rate of above 20 per cent would be acceptable for the incubation centre but expects the thorough vetting procedure to ensure one in two of the ideas admitted in the institution would emerge as multi-million shilling-worth enterprises.
