The government of Zimbabwe through the ministry of ICT Postal and Courier Services said they are ready to start funding ICT projects which are set to boost innovation and growth of the sector, with specifically ICT related solutions.
Speaking during the recently held Rioset-Tech@School event at NUST, The deputy minister of ICTPS Hon Win Mlambo said we can not just sit and watch these young tech players exhibit and design solutions which we are not ready to commercialize.
“The government is ready to commercialize and take on outstanding projects being showcased by these young tech players, we have been looking at strategies of driving this sector forward and I’m glad that we have a specific fund tone launched and support these projects.”
The deputy minister said that these outstanding solutions should be supported and nurtured for commercial purposes,if the sector is to develop as government seeks to stir up innovative culture amongst these young entrepreneurs.
The funds have been sourced mainly from the contribution of all mobile network operators , USF, funds, and a total of US$25 million is to be launched under the initiative.
The disbursements of funds which will run under Potraz will see provincial awareness campaigns and launches with Bulawayo and Matabaleland seeing the initial launch and funds unveiling.
The ICT innovation fund is a collaborative effort between the Ministry of ICTPS , Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) and mobile telecommunications firms.
The Ministry of Information Communication Technology, Postal and Courier Services says significant progress has been made in the setting up of the ICT innovation fund which is meant to bankroll technological projects which have social and economic impact.
The country’s ICT sector is projected to register a 1.8 percent growth in 2016 on the back of active participation by all the telecoms companies as well as promotional services to stimulate revenue and market share.