30 Million Granted to each innovator by RIEF

In October last year, the Government of Rwanda officially launched the Rwanda Innovation Endowment Fund (RIEF).This Fund targets research and development initiatives for innovation  market oriented processes..

It is under partnership of the United Nations Economic Commission for Africa (UNECA) and One UN Rwanda. Among 350business plans submitted, only 50 projects were selected as innovative ones. Afterwards, 8 people were chosen as the best innovators of the year by RIEF.

Monday, June 24, selected winners received awards comprising a package of 30 M RwF each as a start-up capital .The money will be granted to them in three phases and that one was phase one. Though 50,000 dollars is the amount for each innovator, the amount can increase depending on the grant a depending on the project circumstances and Bank requirements.

MINEDUC will help throughout the implementation of the projects for their sustainability.

People who are willing to apply for further competition are welcome. This competition is done yearly and people eager to compete are required to have strong entrepreneurial skills and highly motivated to apply them in different related fields.

UM– USEKE