By Ethel m’banga
The National Youth Council of Malawi (NYCOM) has announced that 85 young innovators will benefit from a government grant, ranging from K10 million to K30 million each.
The funding, part of the Youth Innovation Fund, aims to empower young entrepreneurs to create wealth and jobs in the country.
Speaking during a training session with some of the young innovators in Blantyre, NYCOM Executive Director Rex Chapota said the government is committed to supporting youth-led businesses in key sectors such as agriculture, mining, tourism, and manufacturing.
Chapota emphasized that the fund is designed to enable young people to play a leading role in innovation in Malawi.
“We expect the youth to be at the forefront of innovation in our country, and this fund will provide them with the necessary resources to turn their ideas into reality,” Chapota said. “The government is committed to supporting young entrepreneurs and providing them with the necessary support to succeed.”
The young innovators, who were selected through a competitive process, will use the funding to grow their businesses and create jobs.
Tupochele Lundu, one of the participants from Spark Delight, commended the government for the grant, saying it will help their business to expand and reach new heights.
“This grant will be a game-changer for our business,” Lundu said, adding that,”We are excited to receive the funding and look forward to growing our business and creating jobs for young people in our community.”
The Youth Innovation Fund is part of the government’s efforts to promote youth empowerment and entrepreneurship.
By providing financial support to young innovators, the government aims to stimulate economic growth, create jobs, and reduce poverty.
The training session, which brought together young innovators from across the country, provided an opportunity for participants to learn about the fund and how to effectively utilize the funding.
The NYCOM Executive Director emphasized the importance of accountability and transparency in the use of the funds.
“We want to ensure that the funding is used effectively and efficiently,” Chapota said,adding that “We will be monitoring the progress of the businesses and providing support where necessary to ensure their success.”
The launch of the Youth Innovation Fund is a significant step towards promoting youth-led entrepreneurship and innovation in Malawi. With the government’s commitment to supporting young entrepreneurs, the potential for economic growth and job creation is vast.
As the young innovators embark on their entrepreneurial journeys, they are expected to make a significant contribution to the country’s economic development.
