MUBS Visit to the University of Nairobi Science and Technology
Recently the African Development Bank (AFDB) extended support to MUBS to build an innovation hub. The Private Sector Foundation (PSFU) has extended consultancy services in support of the innovation hub in MUBS. To be able to deliver a good product MUBS is benchmarking with various institutions hence the visit to the University of Nairobi Science and Technology Park.
The park supports scientific innovations. From the several bench mark visits, MUBS has discovered that these innovation centres and business incubators are expected to be self-financing. In his
view, Prof. Waswa Balunywa said this is limiting. Government should fund these centres if they are to add value to the economy through business startups and job creation. These centres should
fall within government policies to address youth unemployment.
Balunywa noted that the Ugandan government spends a lot of money on many things including money for youth which is never returned. This kind of money can be channeled to these innovation Centres.
The Nairobi Science and Technology Park started as an operations Research Centre which is now an incubator and plans are under way to turn it into an Industrial Park. It attracts research companies and individuals with business ideas who need space for incubation. Annually the park organizes the Nairobi innovation week giving an opportunity to innovators to show case their business ideas.Prof. Balunywa noted that of the advantages Kenya has over Uganda is a well-planned system of government where many issues are thought through and if agreed and established they are funded to some level.
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