March 24, 2023, Antananarivo, Madagascar. The European Union (EU), the United Nations Industrial Development Organization (UNIDO) and the UN Capital Development Fund (UNCDF) are joining forces to strengthen Madagascar’s business incubator ecosystem and further accelerate inclusive economic growth.
The focus of the partnership will be the UNIDO-UNCDF-led project called “Incuboost” that seeks to strengthen the network of business incubators, stimulate entrepreneurial initiatives and create new economic opportunities, particularly for Madagascar’s unemployed and underemployed youth. Specifically, the project will improve the overall quality of the technical and financial support offered to young entrepreneurs and micro, small and medium–sized enterprises (MSMEs) within the incubation ecosystem in Madagascar. The EUR 5 million project, funded by the European Union, will be implemented over four years and operations will start shortly.
“Incuboost” is a chapter of BIC Africa, a regional network, powered by the EBN – European Business and Innovation Centre Network, supporting selected business incubators in stimulating entrepreneurship and creating and consolidating new innovative start-ups in Eastern and Southern Africa, with a specific focus on youth and women.
Cover image: Delegation of the European Union to the Republic of Madagascar and the Union of the Comoros