Public financial governance

Provision of Services Relating to Assessment of Existing Business Incubators Across Somalia
The United Nations Industrial Development Organization (UNIDO) is the specialized agency of the United Nations that promotes industrial development for poverty reduction, inclusive globalization and environmental sustainability. UNIDO seeks to promote and accelerate inclusive and sustainable industrial development (ISID), prioritizing creating shared prosperity, advancing economic competitiveness, safeguarding the environment, and strengthening knowledge and institutions.
UNIDO is implementing “Business incubators to support entrepreneurship and MSME creation in Somalia” that aims to promote inclusive and suitable entrepreneurship development initiatives aimed at creating jobs and economic opportunities, particularly for young women and men, through the promotion and development of locally based and innovation-led business incubation service. This project aims at expanding the reach, and reinforcing the delivery, of selected Somali incubators by improving their capacities to deliver specialized technical and managerial entrepreneurship development incubation programme and business development services, transforming them into centers of excellence for business and technology innovation in Somalia.
HACOF carried out assessment of existing business incubators in Somalia, somaliland and Puntland states to access, utilize and customize open-source technology solutions, introduce innovations in the production cycles, engaged with foreign partners, investors, project contributors, technology providers, etc., as well as facilitate the establishment of a platform to prototype product solutions while learning creative skills useful at helping innovate and modernize traditional business outfits, preserving Somali culture heritage or “greening” the economy.