SMEs to get European Commission funds

Small and medium enterprises using technology to solve local problems are set to access funds and professional assistance to expand their operations from the European Commission (EC).

The EC has set up a Sh286 million fund that will facilitate establishment of an Africa-Europe Innovation Partnership (AEIP) .EC Director for International Co-operation Maria Cristina said the AEIP platform will see African startups access the European startups’ ecosystem thereby linking them to same line private sector players and investors.

“AEIP is a catalyst for direct engagements between European and African incubators that explores models for technology transfer and access to markets while developing skills for African ‘tech-preneurs’.It will facilitate new investments, new companies and generate new jobs,” she said.

Speaking in Nairobi during a global symposium bringing together Africa innovation hubs, network organisations and experts from both continents, EU Ambassador to Kenya Simon Mordue said AEIP seeks to encourage commercialisation of homegrown solutions.