The Small and Medium size Enterprises (SME) Promotion Agency and its Minister,Achile Bassilekin lll, have launched an initiative to facilitate startups, innovative projects in Cameroon.
In a bid to encourage creativity and innovations by the Cameroonian youths, the SME Promotin Agency has launched a creative initiative to target talents, creativity and innovations by Cameroonian youths with projects that could benefit from financing in the development of these projects.
It is in that light that, government’s initiative to facilitate startups innovative projects in the SME sector in Cameroon known as “Protofound” has been launched by the SME Promotion Agency Director General, Jean Marie Louis Badga.
According to the General Manager of the SME promotion Agency, the idea is to assist youths with creative and innovative ideas, materialize their projects. This he said, could help facilitate market access for products and services for SMEs, by producing final prototype within a period of three years, after the beginning of their projects.
It should be reiterated that the government has made available the sum of CFA 50 millions Frs to assist in the development of the “projects made in Cameroon” that will be selected.
The aim of the initiative is to target and boost creativity among Cameroonian youths, as well as encourage competitiveness within their creativity.
How Will The Project Function?
On June 15, 2020, the project was launched with the Minister of Small and Medium Sized Enterprises, Social Economy and Handicraft, Achille Bassillekin lll, at the forefront of the Programme. Youths have 30 days to submit their projects online for examination. After the dateline of July 15, 2020, 50 best projects will be selected by a huge qualified jury, who will have the task of selecting the best 20 projects from the 50 projects in the expected, competition pool. Although the best projects will benefit from financing, the rest of the non winning projects will also be assisted as a way of encouraging creativity and innovative minds by the government. “The startup projects are a gauge for our youths creativity” in the words of Jean Marie Louis Badga, Director General of the Agency for the Promotion Of SMEs.
Criteria For Eligibility
-Interested participants must not be more than 35 years of age.
-All projects must be “made in Cameroon projects”.
-Youths willing to participate in this competition, should submit their projects online before July 15, 2020.
-Concerning remote areas without internet connection, there are centers all over the country where the youths can go and address their concerns and also submit their projects, if it cannot be submitted online.
However, the Director General of the Agency of the Promotion of Small and Medium Sized Enterprises, has emphasized that, the ideal will be to submit the projects online rather than in the centers.
Impact Of The Projects
Every economy requires vitality and innovations. The duration of the project is 3 years. With the health crisis imposing its rhythm on the economy, startup projects could be of great help through the creativity and innovations of these youths which could assist companies and businesses in the country.
It should be added that, most of the innovations by the youths could be exploited by large companies for industrialization as requested by the Head of States, Paul Biya.