To promote creativity, SMEs: Gov’t rewards Proto-Fund Expo laureates, prescribes consistency.

The minister was speaking while chairing a ceremony to unveil the results of the Fourth Call for Project Proposals of the Proto-Fund Expo. The event took place at the Yaounde Multipurpose Sports Complex on Friday, October 18.

The event celebrated 20 laureates who were awarded prizes ranging from 1.5 million FCFA to 4 million FCFA for their innovative projects. The laureates were awarded in the sectors of agriculture, environmental protection, transformation, energy, wood and textile among others. 

The Proto-Fund, it should be said, is a government initiative aimed at boosting entrepreneurship and innovation. It is placed under the patronage of the Head of State, President Paul Biya. 

Officials said it aims to mitigate the high rate at which Small and Medium-sized Enterprises, SMEs, disappear after takeoff. They said the goal is to provide both financial and technical support to budding entrepreneurs.

High-profile government officials, partners, and stakeholders in the SMEs sector attended the event. 

Amongst officials who attended the event were; the General Manager of the Small and Medium-sized Enterprises Promotion Agency, SMEPA, Jean Marie Louis Badga, and the Secretary of State to the Minister of Public Works in charge of Roads, Armand Njodom.

The event also featured an exposition during which past and present laureates of the Proto-Fond Project displayed their knowhow.

Minister lauds participants, calls for concerted efforts 

Minister Achille Bassilekin III congratulated the participants and called for concerted action to scale new heights. He said those awarded are part of government’s National Development Strategy, SND2020-2030.

He opined that without SMEs, “it will be difficult for us to lay the groundwork for the local transformation of our resources and to position ourselves as an emerging economy”.

The minister emphasised the critical role young entrepreneurs play in shaping Cameroon’s future. 

According to him, "the more manufactured products we produce, the more we will take the path of emergence”.

The member of government noted that the support of several major organizations, including the National Social Insurance Fund, CNPS, and the National Oil Refining company, SONARA, in promoting SMEs development.

He appealed to technical and financial partners “to join us in keeping the flame of creativity alive... to support our efforts and development initiatives, especially the strengthening of the private sector in Cameroon”.

Enter SMEs Promotion Agency boss

Speaking during the award ceremony the General Manager of SMEPA, Jean Marie Louis Badga, outlined the objectives of the fund. 

He emphasised its long-term impact in fostering innovation and sustainability in the country.

“With this innovative project, we aim to reduce the mortality rate of startups, attract investors more easily, facilitate production, market entry and create physical prototypes leading to proof of concept,” Badga said.

He insisted that the Proto Fund is open to all young Cameroonians who have project ideas. 

Given the results recorded this far, he said “in a few years, the beneficiaries of this fourth edition will be included in the prestigious list of our national champions”.

Laureates commit 

One of the laureates, Abdoul Aziz, winner of the first prize and creator of a device for the early detection of breast cancer, Intelibra, thanked the government.

Aziz explained that: "Intelibra is a portable device for the detection of breast cancer. It is used to alleviate the deficit in breast cancer detection systems in Cameroon”. 

He said early detection could result in 90 percent survival of cancer patients. He revealed that they are already in talks with the Ministry of Health to deploy the machine to health facilities nationwide.

This story was first published in The Guardian Post Edition No:3266 of Monday October 21, 2024