Entrepreneurship Development Center of Adama and Science Technology University (ASTU-EDC) is set up to provide business incubation support and technology transfer initiative for various industries and sector offices in the multidisciplinary areas of science and technology on behalf of Adama Science and Technology University (ASTU).
The term incubation refers to the process of technical and management support which is needed to start-up and new enterprises for successful development. The aim is to produce successful firms that will leave the program financially viable and independent, through Science and Technology interventions.
The purpose of ASTU-EDC is to incubate and materialize the conceptual ideas among the students and faculty members of ASTU and other similar institutions, and transform these ideas into value added products in the commercial market.
ASTU-EDC will nurture nascent ventures by providing workspace and shared facilities along with focused counseling. In the ASTU-EDC, the entrepreneurs can receive value added support and access to critical tools, information, education, contacts, resources and capital in the form of soft loan that may otherwise would have been unaffordable.
ASTU has established Entrepreneurship Development Center (EDC) under the Office of the Vice President for Research and Technology Transfer in an effort to play a vital role in the development of entrepreneurship throughout the country. It is also a very important component of job creation and economic development through the provision of conducive environment. Moreover, ASTU-EDC works in collaboration with various stakeholders in the arena to create a vibrant private sector, prosperous and inclusive economy.
EDC is also designed to provide an integrated set of services to empower and engage individuals to pursue the career path to entrepreneurship which in effect fosters the economic growth and development of the country.
Vision of ASTU-EDC
The vision of ASTU-EDC is to become one of the leading EDCs in Ethiopia, become top technology and business incubation center, and renown in the region and nation wise by 2025.
Mission of ASTU-EDC
The mission of ASTU-EDC is to create and develop technology and innovation based businesses needed for developing industries and the society by providing the knowledge, support and technical services. The center was meant to create entrepreneurship culture in the university and develop entrepreneurship eco-system in the community at large to support the socio-economic development of the nation.
Goals of ASTU-EDC
• Improve the livelihood and survival rate of new firms by providing technical and business related support.
• Strengthen the knowledge component of the local economy, also by engaging more closely the university system with the world of production.
• Create entrepreneurial awareness, culture and environment throughout the region and the country at large.
• Provide a nursery for the commercialization of university research, especially when higher education institutions are directly involved in the promotion and management of the incubation process.
• Foster the development of cross-fertilizing technologies such as biotechnologies, nanotechnologies, or material sciences that have several possible industrial applications and have therefore a strong impact on productivity and growth.
• Support the emergence of high potential start-ups and new firms that can achieve significant progress in employment, sales and exports.
• Produce successful firms that will leave the incubation program financially viable and freestanding.
• Build the entrepreneurship-oriented capacity of local institutes and individuals through direct and indirect supporting mechanisms. Read more