Business Incubation Pilot Profile
In November 2014, the Harare Institute of Technology (HIT), Sandown Corporate Limited and UNDP Zimbabwe jointly launched their first Business Incubation Programme.
This document provides an overview of the business incubation process while also outlining briefly the profiles of the 10 incubated projects. It is hoped that this profile document will serve as an inspiration to aspiring entrepreneurs and partners, as well as help inform policy and practice on entrepreneurship development as we seek to address rising unemployment among youth.
- According to the 2012 Finscope study, the informal sector in Zimbabwe employs close to 3 million people, with the youth accounting for 58% of the 84% employment rate in the informal sector
- 10 Young Graduates underwent the incubation process for a period of three months (December 2014 – February 2015)
- Incubated ideas include an Energy Prediction System, eCommerce websites, payment systems, information management application and home automation systems
- Various vValuable partnership lessons have been drawn from the business incubation inititative