Nakuru: The cosmetology start-up ecosystem in Nakuru County has received a major boost with the establishment of a Business Incubation and Innovation Centre, to help nurture entrepreneurial ideas among the youth in the area. The initiative is a joint partnership between Rift Valley Institute of Business Studies (RVIBS), Emprotek Incubation Program, Dimeways, and Step to Step Program.
According to Kenya News Agency, the Rift Valley Institute of Business Studies Director, John Kimemia, stated that the focus is on preparing students to take up roles in entrepreneurship rather than job seeking. The move comes in response to the difficulties youths face in securing jobs. Kimemia explained that RVIBS is actively seeking public-private partnerships with financial institutions, donor and government agencies, industrialists, and other stakeholders. This collaboration aims to provide budding cosmetology entrepreneurs with access to seed capital to kick-start their projects, addressing the current 40 percent unemployment rate in the country.
Kimemia further elaborated that the idea emerged after realizing the high number of potential student entrepreneurs whose ideas often go untapped due to a lack of nurturing opportunities and funding. Cultivating business ideas among youths early is seen as pivotal to elevating the county's economy and could offer a solution to the rising unemployment cases. He emphasized that the upcoming business incubation hub has the capacity to empower students to become self-employed upon graduation, thereby reducing the pressure on the limited employment opportunities.
The Incubation Centre is currently nurturing entrepreneurial ideas among over 200 cosmetology students at the institution. This initiative aims to help the county overcome the unemployment stalemate by igniting the entrepreneurial spirit of potential businessmen and students, encouraging them to rely less on formal employment through the provision of seed capital and networking.
Kimemia pointed out that incubation programs are critical in bridging the gap between academic knowledge and entrepreneurial skills. He expressed regret that many start-ups face challenges in patenting their products and finding markets, a situation that incubation hubs could remedy by merging academic and entrepreneurial strengths.
In the past, universities and tertiary institutions were criticized for their focus on theoretical courses, driving students to rely heavily on the limited formal job market. Kimemia pledged that RVIBS is emphasizing producing graduates ready for employment by offering the skills needed by the labor market and fostering entrepreneurs capable of creating jobs themselves.
Dimeways Executive Director, James Gachiri, noted that the role of traditional tertiary institutions has evolved. Entrepreneurial educational facilities are now necessary to redirect new knowledge for economic development through business incubation hubs. Gachiri explained that such hubs are where research outcomes can be linked with industry development, creating environments where investors, financial institutions, innovators, and industrialists can support budding entrepreneurs.
Gachiri expressed satisfaction that the initiative aims to become more accountable to the public and contribute to local, regional, and national economic development. The business incubation hub intends to transform RVIBS into a strategic partner in supporting entrepreneurs by using research results for economic development and reinforcing links between RVIBS and business communities through the commercialization of technological advances and research outcomes.
The increasingly disruptive business environment has prompted learning institutions, governments, and businesses worldwide to rethink their innovation strategies. Many organizations have realized that survival depends on consistent change and adaptation to new conditions, leveraging current capabilities while exploring unknown areas through innovation.