Fostering innovation will drive job, wealth creation

Maimonides famously said, "Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime," highlighting the enduring value of education. This insight places universities, colleges, and vocational institutions in a crucial role, to equip students with the skills needed for long-term career success and pave the way for future generations of entrepreneurs and innovators. There is a need for institutions of higher learning to be equipped with the facilities, environment, and opportunities necessary to inspire students and foster new ideas that could commercialise into billion-dollar startups. As of 2022, Kenya had about 308 active startups and is among the big four startup ecosystems in Africa. Entrepreneurship and innovation are tools that young people can leverage to contribute to socio-economic growth and make a difference in their lives. Furthermore, it is evident that the innovation economy is driving monumental changes across the globe, reshaping industries, altering labour markets, and revolutionising people's daily lives; and Kenya is not an exception. Today, intangible assets such as ideas, innovation and intellectual capital form the cornerstone of economic value. Moreover, there is need for the country to have innovation execution as a core ability to build and to win the creative and innovations economy. Last year, the CEIL Summit discussed in depth the landscape of entrepreneurship and innovation in Kenya's higher learning institutions. Forums such as the CEIL Summit have the potential to empower institutions of higher learning to nurture entrepreneurs and innovators who will drive Kenya's economic future. The time is ripe for universities and TVETs to emerge as the epicentres of innovation, with the ecosystem players serving as a key milestone in achieving that vision. However, for our country, the real challenge is not just in nurturing innovation-it is in turning those innovations into marketable solutions that generate jobs, create wealth, and drive sustainable economic growth. Kenya currently ranks 100th out of 132 economies in the Global Innovation Index (GII) 2023, according to the World Intellectual Property Organisation. To improve this ranking in 2025 and beyond, the government, alongside institutions such as Ajira Digital Programme, must focus on strengthening innovation capacity. Initiatives such as the Ajira Clubs in institutions of higher learning can be entrenched and empowered to initiate and execute market-driven innovations to stimulate job opportunities and wealth geared towards economic posterity. This includes fostering an environment conducive to the development of economically viable ideas, supporting their transformation into products, and ensuring their widespread diffusion. Through investing in research and development, enhancing university-industry linkages, and developing intellectual property frameworks, Kenya can foster innovations that attract foreign investment, boost exports, and drive economic growth. The government is playing a key role in supporting the innovation economy through enabling research, entrepreneurship, and business-friendly environments. The Bottom-Up Economic Transformation Agenda prioritises the Digital Superhighway, with several initiatives serving as incubators for innovation in higher learning institutions. Ajira clubs are already nurturing innovation among youth through digital skills and work resources, but stronger partnerships with industry players are needed to grow the digital economy. The commercialisation of innovation especially at the institutional level holds immense potential for job and wealth creation. As innovative ideas are transformed into marketable products and services, new industries and markets emerge, creating jobs across the value chain-from research and development to manufacturing, marketing, and distribution. The writer is co-founder and managing director, eMobilis Technology Training Institute

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