Rwanda has decided to release a $ 30 million fund to support the development of the technology sector.
Called the National Research and Innovation Fund (FNRI), it will support research and technology, with a focus on the link between young innovators and the job market.
This fund is being announced to take office from the next fiscal year, and is part of the National Transformation Strategy 2017-2024.
The aim of the FNRI is to stimulate the ICT sector in the country. In particular, it will make equity financing available to small and medium-sized Rwandan technology companies.
In addition, it will finance the training of entrepreneurs, with a focus on technology in business planning and management, as well as awareness of intellectual property rights.
Under the African Development Bank (AfDB) management, the FNRI will serve to provide institutional growth capital and significant business support to startups.
“The Government of Rwanda is committed to increasing the budget allocation to this innovation fund and will continue to support research and technology by focusing on the link between our young innovators and the labor market,” he said. says Edouard Ngirente, the Rwandan Prime Minister.
