PRIVATE INCUBATION STRUCTURES: PIONEER LAUREATES GRANTED AUTHORIZATION

MINPMEESA > News > PRIVATE INCUBATION STRUCTURES: PIONEER LAUREATES GRANTED AUTHORIZATION

The Minister of Small and Medium-Sized Enterprises, Social Economy and Handicrafts Achille BASSILEKIN III on November 24th 2021 presided over the solemn ceremony for the award of the first authorizations to private incubation structures at the “Immeuble Emergence”, Yaounde. This is in line with the reforms and actions initiated by MINPMEESA aimed at improving the conditions for the creation of SMEs, the promotion of entrepreneurship and private initiatives. The ceremony saw the handing over of the very first authorisations to four (04) private incubation structures housed at the Jacky Felly Nafack Institute of Technology (JFN-IT); the Groupement des Femmes d’Affaires du Cameroun (GFAC); the Digital Transformation Alliance and the N’lonako Valley Authority.

Speaking at the ceremony, Minister Achille BASSILEKIN III revisited the meaning of an incubation structure which he stated “are structures specialized in supporting people with business creation and/or project development. Their mission is to provide actors of the national entrepreneurial ecosystem with a framework of creativity and innovation so as to promote the creation and development of innovative businesses that generate wealth and jobs. In so doing, admission to incubation centers aims to allow project leaders to clarify their business creation ideas, assess the relevance of their projects as well as catalyze the resources necessary for the creation and development of their businesses”. In other words, Incubation structures facilitate the innovation and growth of SMEs, evaluate the pertinence of their projects, put resources and human competence capable of following up projects as well as managing them. He also stated that “within the framework of the NDS-30 which aims at the necessary structural transformation of the economy and inclusive development, the government intends to make the private sector, an engine of sustainable and sustained economic growth, creator of wealth and generator of jobs.”

Speaking on behalf of the laureates, Mr. Alfonse NAFACK did not fail to express their gratitude to the State for the privilege of being authorized to run the first private incubation structures in Cameroon. While promising to live up to expectation in carrying out their incubation activities in the country, he exalted the pioneer laureates to be a model to aspiring private incubation structures.

It should be noted that MINPMEESA has already deployed approximately two (2) billion CFA francs to support incubators in State Universities, in line with the promotion of incubation in the educational system.

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