Experts push for creation of Startup Law in Cameroon.

It was organised by the Nkafu Policy Institute, a think tank of Denis and Lenora Foretia Foundation.

Discussions during the workshop centered on the theme: “Why does a startup act matter in Cameroon”.

The workshop brought together civil society leaders, government representatives, startuppers, financial sectors, training schools and centres, and startup incubators and accelerators.

Targeting startuppers, the workshop was held to present limitations, propose important reforms to be considered, increase collaboration among the general public and to improve collaboration and networking.

Speaking during the workshop, the Director of programmes and Strategy at the Nkafu Policy Institute, Fouefack Ebenezer, disclosed that a startup act is an essential tool for economic development and innovation in Cameroon.

“Startup act will facilitate access to resources financing the market development for startups to grow and create jobs for more value reducing unemployment,” Fouefack said.

He insisted that: “We must continue to work together to promote this initiative and ensure that Cameroon becomes a help of innovation and entrepreneurship in Africa”.

Reinstating the creation of the regulatory framework in Cameroon, Fouefack called on the startups to ensure that their ideas are innovative.

He restated Foretia Foundation’s stands in making sure that the startup act is created.

Panel discussion 

The main objective of the workshop was to examine the urgent need of a startup act in Cameroon with the aim of strengthening the startup ecosystem and contribute to a more supportive environment for startups.

During the panel discussion, the current startup landscape in the country was analysed with remarks made on the fact that startups are unaware of all the resources available for them to grow. The importance of implementing a startup act was also discussed.

Challenges raised by startupers 

During the panel discussion, challenges faced by startuppers were raised in order for them to lay out their challenges for further brainstorming.

The issue of financial constraints was identified as a major challenge hindering the growth of the sector. Startups highlighted that they face difficulties due to unavailability of money to invest in their startups.

Another challenge raised was the lack of collaboration with other major firms or companies.

Speaking at the workshop, the Director of Marketing and Communications at SalezUp, a startup, Armella Lesley Kaze Konyo, proposed that government and stakeholders of the entrepreneurial sector need to carry out sensitisation and consultations with startups.

She added that there is the need for consistency which she said, will help startups to grow.

Taking the cue, a Research Officer at the Ministry of Scientific Research and Innovation, Makoudem Tene Marienne, mentioned that stakeholders need to collaborate with each other for the growth of startups.

“We need more collaboration among stakeholders in Cameroon for better decisions that favor startup. And also, collaboration between the government, private sector and the public is crucial for major decisions on creating a framework for startups,” said Tene.

This story was first published in The Guardian Post issue No:3177 of Tuesday July 23, 2024