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Stanford University to Set Up Innovation Center in Nairobi

BY Soko Directory Team · December 21, 2015 07:12 am

Plans are underway for opening up of the Stanford Institute for Innovation in Developing Economies (SEED) in Nairobi by Stanford University of the United States. This will be the second one in the world after one that was set up in Accra.

SEED will serve as a regional innovation Centre and this will help in improving Kenya’s standard as an invention Centre in Africa.

The institute will majorly concentrate in training potential businesspersons so that they can be in positions to devise products and services, and also help improve ideas in practical industries.

Nairobi is known globally as a Centre for innovation and enterprise, with potential workforce and good infrastructure. These are some of the key things that made the Prestigious University pick Kenya to serve as East Africa’s lab.

The institute will enable entrepreneurs and business people come up with ideas that will be converted in job opportunities that will help in cutting down on the high number of unemployment among the youth especially in third world countries.

Young entrepreneurs will be offered with transformation programmes that will be running for six months focusing on marketing, organizational structure, strategy, operations and finance.

Nairobi has lately become a home to several innovation institutes such as IBM, Samsung, Nokia and the Columbia Global Centre Africa. There are also several others that are located in Nairobi and they serve a large group of both the upcoming and the already established entrepreneurs.

SEEDS Associate Director in charge of global operations Mr. Davis Albohm stated that the institute will be able to serve as a research Centre so as to open up opportunities for future generations.

The location of the Institute has not yet been decided upon but the University said that it is in the process of getting a suitable location.

The innovation centers will foster national competition amongst themselves and will also support the use of technology in Kenya, which will in turn help the country to move forward.

Such institutes especially in developing countries enable them to get access to locally high quality technology information and related services, helping them exploit their innovative potential.

Article by Vera Shawiza.

 

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system. Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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