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A new Bill seeking to develop a culture of innovative thinking and entrepreneurship has been published as an Act of Parliament.
The Bill also cited as Startup Act, 2020 is sponsored by the Nairobi County Senator Johnson Sakaja and will provide a framework to encourage growth and sustainable technological development and new entrepreneurship employment.
It will also create a more favorable environment for innovation; to attract Kenyan talents and capital for connected purposes.
The Act gazetted on September 14, further seeks to facilitate investments in the startups as well as facilitate the provision of fiscal and non-fiscal support, promote an enabling environment for the establishment, development, conduct of business and regulation of startups.
The Act will also provide for the establishment of incubation facilities at the National and County level of governments for such startups and monitoring subject to evaluation of the legal and regulatory framework to encourage the development of such ventures.
Further, the Bill is proposing the creation of Kenya National Innovation Agency to be established under section 28 of the Science, Technology and Innovation Act, to be over sighted by a Cabinet Secretary on matters relating to science, technology and innovation.
It also proposes to put in place mechanisms to enable access to entities from marginalized groups such as those living with disabilities, youths and women through the use of quotas or mechanisms that match them to unused capacity in existing programmes.