ADDIS ABABA – Ethio Telecom has launched a new program to provide support to local startups with innovative business ideas in digital finance and technology.
The telco says the Ethiotel innovation program is designed to address a host of challenges startups with innovative ideas face while attempting to bring them to market.
The new program will offer a Support and Commercialization package, which involves support in telecom resources, financial and in kind as well as mentoring, networking, and experience sharing.
Three phases support
On Monday, Ethio Telecom kicked off the first part of the three-phase program scheduled to run from Feb 10 to April 30, 2023.
The telco will select 100 startups leveraging cloud and mobile financial service capability through a national competition.
A call to partake in the competition has already been made for startups with business ideas in the cloud and mobile finance. (Startups can apply via [email protected] starting from Feb 10 to March 12, 2023.)
The program will help 100 selected startups to bring their winning ideas to market with expert, financial, and material support.
The winners will also land a sponsorship deal to travel to China and acquire international experience in partnership with Huawei Technologies.
II & III Phases
Ethio Telecom plans to implement the second phase of the program from March 20 to July 30, 2023, and its focus will go beyond finance and the technology sector.
The program aims to support 150 startups in digital content, solutions, services, analytics, as well as consumer and business applications.
The last phase of the innovation program will begin in August 2023 and seeks to capitalize on the institutionalization of the businesses and innovations.
Ethio telecom says it will use best practices from the first two phases to establishing a research and development or TechHub.
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