advertisement

President To Launch Potraz Innovation Fund Under Another Name

President Emmerson Mnangagwa

On the 14th of March, President Emerson Mnangagwa will be at hand to launch the Zimbabwe ICT Drive at the HICC.

What is Zim ICT Drive?

The ICT Drive will be a revolving fund(continuous funding program) that is meant to support the development of young innovators in the ICT field. Supa Mandiwanzira, the minister of ICT and Cyber Security will also be in attendance

The objectives of Zim ICT Drive include:

advertisement
  • Increasing research and development by young innovators
  • Establishing innovation hubs
  • Increasing the number of home-grown ICT applications
  • Creating Employment in Zim
  • To promote a culture of innovation and development among Zimbos
  • Increase financial literacy
  • Providing training to the beneficiaries of the funds

The hope is that Zim ICT Drive will be able to produce innovators that can tailor-make applications with the Zimbabwean market in mind. They also hope that development of these applications can positively impact the Zimbabwean economy.

Zim ICT Drive will target all Zimbabwean’s but first preference will be given to the more youthful zimbos.

Wait, wasn’t there a similar ‘fund’ before?

You may be thinking, “back in 2016 POTRAZ launched an ‘Innovation Drive’ and allocated $25 million to fund tech startups but we never really saw the fruits of the innovation drive.” Well, according to a reliable source, this ICT Drive is actually the same thing with the Innovation Drive that was announced back then and now it’s just being officially launched. The list of innovators that are getting funded will also be revealed at this event by the President.

It’s a bit questionable that a lot of programs are initiated but actually have to wait for an official launch by the president. The fact that the startups already applied and are going to be revealed means the innovation drive actually launched a while ago in my book.

It would be great if you check out the Q&A we had with potraz after their initial announcement and get a better bearing of what the Drive is and who is targeted.

It’s yet to be seen how the Zim ICT Drive hopes to achieve their lofty goals. Until then we can only tread cautiously and hope this is not another ‘Innovation Drive.’ Let’s keep our fingers crossed and see how this one goes. Are you looking forward to the ICT Drive and do you think it will be truly impactful? As always let’s get talking in the comments below.


Quick NetOne, Telecel, Africom, And Econet Airtime Recharge

If anything goes wrong, click here to enter your query.

11 thoughts on “President To Launch Potraz Innovation Fund Under Another Name

  1. Farai Mudzingwa, who are you referring to as Zimbos. It’s the only thing that stood out in your article. If you are going to write something as important as funding for innovation and startups, write something intelligent and worth reading than degrading it with expletives. Try again.

    1. Thanks for your feedback James… I would love to better understand how the term Zimbo is degrading and also an expletive?

      1. Oh yes Zimbo is an expletive alright. Call a Zimbabwean outside of your comfort zone and we probably won’t see you around Techzim much longer. But like I alluded to, I would rather dwell on such an important issue as funding for innovation and startups than let an author’s indiscretion get in the way.

        1. You did not explain how it is degrading, but I apologise and did not mean to cause any offence to you or any other reader who will read this. Thanks again for your feedback…

          1. It’s not offending, but it’s colloquial, informal, lacking in respect over the weight of the matter that you are seemingly announcing.
            —-
            My question is, what happened to the millions that were allocated to the first Innovation Fund?

            Can anyone account?

            Did you ask?

            1. As noted in the article; “ICT Drive is actually the same thing with the Innovation Drive that was announced back then and now it’s just being officially launched. The list of innovators that are getting funded will also be revealed at this event by the President.” The startups were selected an will be revealed… According to Potraz, this is the same fund as the first one you are referring to…

    2. Sorry to say this but whether he says Zimbo or Zimbabwean it wont change the weight of the discussion.

      References or good pronunciation don’t get funding. A viable Zimbo project does.

      Silicon Valley was born from people who disrupted industries from garages. Yes, i am a Zimbo and yes I fund startups quite actively. Take a look at luno.com and simplecartjs.org

      1. Your active funding of startups is not apparent from the links you provided. Maybe elaborate since announcing that you fund startups must have excited one or two guys like me but we have no clue on how to follow up.

  2. Being a skeptic, I am not moved at all by these dubious hare-brained shortcuts which are a favourite amongst local politicians for short-term gains.
    TechZim has lots of articles on previous failed projects in this category were money was stolen and objectives never realized. What has changed this time around?
    To have a “drive” become synonymous with a “fund” where “training” is provided to “create employment” and encourage “financial literacy” to me seems like trying to kill too many birds with no stone. If this was spear-headed by the private sector it would be something measurable, clear, transparent and inspiring confidence – in my view this doesn’t cut it.
    For example R&D is a science usually carried out at tertiary institutions and sponsored by interested partners in industry. In short, whose money is seeding this fund? Are the sponsors transparent? The word “innovation” is being thrown around as if innovation is as ubiquitous as “whats app”..imi woyee!

  3. its the same “potraz fund” as before, its now just being officially launched, with the same millions i hope,

Comments are closed.