Yahoo Finance SIMAD iLab Unveils a New Executive Arena to Bolster Somalia's Innovation Ecosystem
Mogadishu, Somalia--(Newsfile Corp. - October 16, 2023) - In a significant move to foster innovation and entrepreneurship in Somalia, SIMAD University announces the expansion of its flagship tech hub, SIMAD iLab. This expansion is a testament to the university's commitment to driving social impact and building an entrepreneurial ecosystem in the country.
Figure 1
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/8846/184161_2948a4a9840a1a7d_001full.jpg
Over the past five years, SIMAD iLab has made significant strides in the innovation sector. With nearly 15,000 applications received, support for over 8,000 alumni of the university, incubation of approximately 50 startups, and a micro-finance portfolio of $3 million through the generous support of DirectAid, the innovation hub has become a beacon of hope and progress in Somalia.
The recent expansion, inaugurated by H.E. Farah Sheikh Abdikadir, the Minister of Education, Culture, and Higher Education of the Federal Republic Somalia, introduces several state-of-the-art features that will make SIMAD iLab one of the most well-equipped innovation hubs in the African continent. The new additions include:
● Innovation Theatre: A vibrant platform for thought leaders, entrepreneurs, and experts to collaborate and share knowledge.
● Creative Digital Studio: Equipped with the latest technology, this space is dedicated to nurturing creativity and storytelling within Somalia's innovation ecosystem.
● Executive Space: A convergence point for civil servants and private sector leaders to synergize and foster an inclusive innovation ecosystem.
● Dedicated Space for Startups and MSMEs: A nurturing environment for startups and MSMEs, aiming to produce the next big success stories for Somalia.
Dr. Dahir Hassan, the Rector of SIMAD University, reflected on the journey, "The introduction of SIMAD iLab was a pivotal step towards our vision of an entrepreneurial university. The overwhelming response and impact in just five years were beyond our expectations. This expansion aims to cater to the growing demands of the Somali youth and address the unemployment crisis."
H.E. Farah Sheikh Abdulkadir expressed optimism about the future, emphasizing the importance of providing equal opportunities for Somalis. He said, "This new executive arena showcases the potential of Somalis when given the right opportunities. We envision a transformative platform for the Somali youth, and the ministry is committed to supporting and collaborating with SIMAD iLab."
Since attaining a permanent government in 2012, after a prolonged civil war, Somalia has experienced a positive trajectory of growth. The state-of-the-art facilities at SIMAD iLab exemplify this positive trend and reflect the changing landscape of the nation. It is time for the world to shift its perspective and see the Somalia of today.
About SIMAD iLab:
SIMAD iLab stands as the premier university-based innovation hub in Somalia, spearheaded by SIMAD University. It offers incubation and acceleration programs for startups in Mogadishu.
For more details on SIMAD iLab and its offerings, visit https://ilab.simad.edu.so.
Media Contact:
Mohamed Muse Hassan
Founding Director, SIMAD iLab
Email: mmuse@simad.edu.so
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/184161
