Today,
as captured by KadInvest, innovation has become a key distinct feature that
can define long-term business success, which in turn leads to
economic
growth and consequent job creation. Fostering innovation has however often
been the privilege of wealthy nations, given the high R&D costs associated
with it and the investments in human capital required to succeed in this
undertaking.
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Innovation in Africa however, has paradoxically existed despite a prevailing
developmental environment plagued by deficits in skills, technologies and
infrastructure. Innovation on the continent stems from the urgent need to
find immediate and sustainable solutions for critical problems Africa has
been facing, which threatens to hinder its next phase of development, if not
handled appropriately. It also relies on Africa’s extensive supply of ideas,
which emanates from the minds of its own people. With the fastest growing
population on earth, Africa has more human capital potential than anywhere
else on earth. Increasingly well-educated African youths have the motivation
and potential to think of suitable African solutions to widespread African
problems. Entrepreneurship also plays a major role and according to the
Global Entrepreneurship Monitor, among the 10 countries with the highest
number of start-ups in the entire world, five are African. Innovators on the
continent are clearly living in a new era of opportunity where there is an
enormous need for innovation.
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A major component of the current administration’s Restoration mandate is
creating jobs and building a prosperous society for all. In line with this,
Kaduna State Government has demonstrated its unwavering commitment towards
developing its human capital, infrastructure, policies and reforming the
business environment
to foster innovation and facilitate the easy inflow of investments into the
State. These reforms and projects – combined with Kaduna’s natural
potential, teaming youthful population, and the solid pedestal of committed
and visionary leadership – have clearly precipitated remarkable progress.
Even more satisfying is the fact that according to the World Bank, Kaduna is
now the overall best State in Nigeria to do business in. (Abdin, 2019). If
Kaduna can develop an integrated innovation ecosystem, it stands to
supercharge its economy, its society and the livelihoods of millions in the
State.
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