Two of the business incubators implementing the Zantchito Entrepreneurship supported business incubation programme- Mzuzu Entrepreneur Hub (Mzuzu E-Hub), and the Malawi University of Business and Applied Sciences (MUBAS) Business Incubation Centre have onboarded their first cohort of incubates to enter the pre-incubation phase.
Business Incubators, across Malawi, that have partnered with Zantchito Entrepreneurship and Access to Finance have opened their Calls for Ideas.
Business incubators in Malawi have been challenged to embrace alternative revenue models, develop robust business plans, and establish an active incubator network as key means of promoting the provision of their services on a commercially sustainable basis.
Recognising the key role that Business Development Service (BDS) providers play in helping entrepreneurs turn their innovations into sustainable businesses, Zantchito has commenced its collaboration with BDS providers in Malawi to build their capacities to effectively support idea-stage entrepreneurs.
Minister of Labour, Agnes NyaLonje, has asked stakeholders in the Technical, Entrepreneurial and Vocational Education and Training (TEVET) sector to collaborate with the Zantchito-Entrepreneurship and Access to Finance programme to support early-stage entrepreneurs develop their innovations into sustainable businesses as a way of promoting entrepreneurial culture among the youth.
At least 3,800 Technical, Entrepreneurial, and Vocational Training (TEVET) graduates, university graduates, and idea-stage entrepreneurs are set to be supported with incubation and business development services and access to financial facilities under Zantchito – Entrepreneurship and Access to Finance. The programme also aims to create at least 7,600 decent, formal jobs through the growth-oriented supported enterprises.
Zantchito – Entrepreneurship and Access to Finance (‘Zantchito’) recently engaged senior representatives from six Malawian business incubators to better understand their service offerings and explore opportunities to strengthen support to idea-stage entrepreneurs.
The Entrepreneurship and Access to Finance component of the Zantchito Skills for Jobs programme financed by the European Union (EU) in Malawi and coordinated by the United Nations Development Programme (UNDP) Malawi office and the Government of Malawi is targeting to provide entrepreneurial support and access to financing facility to 3,800 Technical, Entrepreneurial, and Vocational Training (TEVET) graduates, and Medium and Small Enterprises (MSEs) to create a minimum of 7,600 jobs.