Innovation for Development is defined as the process of designing, developing, and growing new ideas that help fix pressing unmet economic or technological development or social needs. Development challenges require innovative solutions, linking different actors and a collective tapping into bodies of knowledge and development solutions. Innovation can be a powerful mechanism for enabling youth and women, the private sector, government entities and civil society to come up with sustainable solutions for development challenges.
Innovation for Development is one of the key components of EDC to attract and promote innovation and investment that can foster entrepreneurship of young talents, be leveraged to commercialize, and finally build new businesses and create jobs in Ethiopia.EDC-Ethiopia’s Entrepreneurship Innovation Service gives innovators and entrepreneurs a platform to innovative ideas, share experiences and exchange ideas, build networks, enhance innovation capacities and commercialize inventions.
Facilities of the Innovation Services
Access to information technology and working spaces:
· Provide working space for idea incubation and networking along with access to the Internet.
Access to Specialized Patent Information (ASPI) and Research for Development and Innovation (ARDI) in addition to different patent databases in
partnership. The information is provided to EDC in partnership with the Ethiopian Intellectual Property Office (EIPO) and World Intellectual Property Office (WIPO).
· Access to information on innovation awards, grants, and supports services.
· Access to Bizspark, a software program that supports entrepreneurs and start-ups the world over with free access to free software, over 900+ licenses that
entrepreneurs can download and use for free for 3 years. The software is provided to EDC in partnership with Microsoft 4Africa.
Provide innovative ICT solutions for innovators that can facilitate business plan preparation, financial management, information portal, and other
Customized innovation trainings:
· Innovation related trainings such as design thinking, Intellectual Property rights, etc.
· Entrepreneurship trainings
· Mentorship/business advisory services