ACT OF PARLIAMENT

Senate Speaker Ken Lusaka publishes Sakaja’s Startup Bill

The Act is to provide a framework that fosters a culture of innovative thinking and entrepreneurship.

In Summary

• The bill will provide a framework to encourage growth and sustainable technological development and new entrepreneurship employment.

• National and county governments shall promote innovation, facilitate the transfer of technology innovation, and create and develop a sustainable.

Nairobi Senator Johnson Sakaja
Nairobi Senator Johnson Sakaja
Image: COURTESY

A Bill seeking to foster a culture of innovative thinking and entrepreneurship has been published as an Act of Parliament.

The Bill sponsored by the Nairobi County Senator Johnson Sakaja provides a framework to encourage growth and sustainable technological development and new entrepreneurship employment.

It will also create a more favorable environment for innovation, attract Kenyan talents and capital for connected purposes.

 

According to the published Act, its is to provide a framework that fosters a culture of innovative thinking and entrepreneurship, registration of startup and link them with private  investors, financial institutions, research institutions and such other institutions at the county, national and international level,

The Act also seeks to facilitate investments in the startups,  facilitate the provision of fiscal and non-fiscal support, promote an enabling environment for the establishment, development, conduct of business and regulation of startups.

 

       The Act further seeks the establishment of incubation facilities at the National and county levels of government, the establishment of an environment that promotes the establishment of startups and monitoring and evaluation of the legal and regulatory framework to encourage the development of such startups.

Establishment of incubation programs

According to the Act, the National and county governments shall promote innovation, facilitate the transfer of technology innovation, and create and develop a sustainable, globally competitive technology innovation sector that contributes towards the accelerated growth of the economy.

The two governments shall also promote the creation of employment and wealth creation, and promote the linkages between universities and research institutions and the business community.

"The agency and the county executive committee members shall, for purposes of subsection (1)  put in place a national and county incubation policy framework for the development of the business incubation sector and startup system, enter into partnerships with local and international business incubators in order to promote the establishment and growth of startups in Kenya," reads part of the Act.

The Act further requires the two levels of governments to establish programmes for the certification and admission of incubators into the incubation programmes.