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    Date submitted
  • 02-Sep-2017

FIKRA LAB

Abstract

As the world nations compete to achieve and reach higher level of development, various resources needed to be fully utilized. Manpower resembles the major of them, especially the youth as they are considered key change makers in the community and the country as a whole. Knowing that empowering the youth can contribute to employment creation, national development, educational promotion, growth in moral life, poverty eradication and corruption reduction. The idea of Fikra Lab was induced.

FIKRA LAB is the business incubator that offers an entrepreneurship program, focusing on growing innovative technology-driven ideas. It will work on providing a place and space for young entrepreneurs to access Internet connections, work with mentors and get coached to be able to access the market and foster strategic partnerships, as well as creating networks with future investors.

Additional Questions

Who is your customer?

Business companies and individual Investors

What problem does this idea/product solve or what market need does it serve?

The initiative focuses on discovering, nurturing and youths that have innovative technological solutions to problem that our beloved country is facing Also to encourage the growth of innovative technology-based start-ups and support entrepreneurs to take significant and competitive positions in business environment.

What attributes will make this idea/product successful? Why do you believe that those features will create success?

The feasibility study research were included; youth, University and secondary students, ministry of science and technology, stakeholders, community and local government declined that we still lagging behind technology sector, so it will contribute the technology development. Youth needs a platform where they will use effectively to develop creativity and innovation. Tanzania government declined that youth will use effective Fikra lab incubator, it is a critical factor for rapid social economic growth. The feasibility study concluded that the technology sector is becoming an essence to develop the country economy, supporting innovative technology incubation promises to provide the greatest long term social economic benefit.

Explain how you (your team) will execute to make this idea/product successful? What gives you (your team) an advantage over others already in the market or new to this market?

First , The uniqueness of our idea is what made us difference in the market. We have four start-up hub in Tanzania but we have gone to the extra mile by welcome the participants to the Fikra lab innovation center in dar es salaam for four weeks for business entrepreneurship mentoring and training Second. After participants satisfactorily complete the entire (4) four weeks program including attendance of all sessions and graduate, each team will receive start-up seed fund with maturity of 24 months.