Succesfull first Starters Mission to Ethiopia completed

From 12-28 feb 2010, a group of 11 IntEnt diaspora entrepreneurs visited Addis Abeba, thereby forming the first Starters Mission to Ethiopia (SME). The group was joined by a further 3 local entrepreneurs in Ethiopia, primarily local business partners. In Holland, all entrepreneurs had already translated their business ideas into draft business plans, before joining the mission.
During the first intensive week in Ethiopia, the group was introduced to governmental and financial institutions, such as the Investment Office, Diaspora department, Dutch embassy, Ethiopian Development Bank, Commercial bank and several private banks. Participants were also actively introduced to the Ethiopian business community; there were site visits to several businesses set up by succesfull diaspora entrepreneurs; also informal network sessions with local starting entrepreneurs; And the programme was concluded with a more formal Network Event at Jupiter international Hotel with over 80 people attending, the Dutch ambassador Mr Hans Blankenberg as keynote speaker and over 15 press parties reporting the event.

One SME-participant: “I am tired! ….but…now I know exactly what I need to do to start up my business in Ethiopia. I also know how to get the money. This trip has convinced me about the feasibility of my project. The only thing left for me to do, is just to do it!”.
Participants will return to Holland to finalize their business plan. Several are planning to actually start their business in 2010.
The next Starters Mission Ethiopia is planned for November 2010.

Candidates can register until 1 june 2010. For further info, please contact please contact Iwan Zunder: Izunder@intent.eu.

 Calendar:

• ComeBack day Starters Mission Ethiopia; IntEnt Office, The Hague, Tue 23 march 2010
  SME-participants share their experiences and discuss further steps
• Africa Dag, Hogeschool Den Haag, 24 april 2010
  IntEnt will provide workshop”Doing business in Africa”
• Africa Union Day, The Hague, 25 May 2010
  Network event for African embassies & Diaspora organisations
• IntEnt Entrepreneurs Visit to Ethiopian Embassy, Brussels, Belgium, May 2010
• Ethiopia Investment Opportunities, Road Show
  Amsterdam, Utrecht, Delft, Eindhoven,  June 2010
  Experts from Ethiopia will inform you about investment opportunities in Ethiopia; This will be combined with a special ambiance in selected Ethiopian restaurants.
• Ethiopian (European) Sports Tournament;  IntEnt Soccers & Volelyball team, Amstel Park Amsterdam; end july/august 2010.
  At this international event, with teams from all over the EU and even USA, IntEnt will be present, providing information about starting your business in Ethiopia and also sponsoring a soccer & volleyball team. Are you good enough? Contact Iwan
• Starters Mission Ethiopia 2; 23 oct – 6 nov 2010.
  Selected IntEnt entrepreneurs conducting their market research in Ethiopia.
  Ultimate registration date: 1 May 2010.
• Starters Mission Ethiopia 2011; 29 jan – 12 feb 2011.
  Selected IntEnt entrepreneurs conducting their market research in Ethiopia.
  Ultimate registration date: 1 August 2010.

Did you know that…
- In February 2010 IntEnt provided the first training to 8 business advisors in Addis Abeba, in supporting entrepreneurs with their market research in Ethiopia?
- Big steps have been made toward setting up IntEnt Ethiopia, a local organization that will support Diaspora and also local entrepreneurs in setting up their business in Ethiopia?
- To realize this IntEnt is working together with St Mary’s University College (SMUC) as a local Ethiopian partner?
- SMUC offers educational programs on various levels to over 30.000 students all over Ethiopia?
- A Memorandum of Understanding (MoU) has been drafted in February and will be signed shortly?
- Mr. Tsegay Kassa is the new coordinator for Intent Ethiopia?
- Various banks have indicated that they want to cooperate with IntEnt in implementing the Friends & Family Fund?
- IntEnt will start cooperating with Bunna Bank, Commercial Bank and Zemen Bank?

Capacity building of business advisors in Addis Abeba
In feb 2010 IntEnt provided a training to business advisors in Addis Abeba. The training was attended by no less then eight (8) business advisors who got instructed in how to support visiting entrepreneurs in conducting their market research. Business advisors were able to directly apply the knowledge and skills acquired through training: they were all assigned to an entrepreneur from the Starters Mission to practically support them in their market research. Part of the training were also monitoring sessions with the master trainer, to give feedback on the whole advisory process.

IntEnt Ethiopia, a local organization in Ethiopia
Big steps have been made toward setting up IntEnt Ethiopia, a local organization which will support diaspora and also local entrepreneurs in setting up their business in Ethiopia. To realize this IntEnt is working together with St Mary’s University College (SMUC) as a local Ethiopian partner. This institution offers educational programmes on various levels to over 30.000 students all over Ethiopia. A Memorandum of Understanding (MoU) has been drafted in February and will be signed shortly. Already, a coordinator for Intent Ethiopia has been appointed: Mr Tsegay Kassa.

Financing your business in Ethiopia through the FFF
After an advance mission in november 2009, IntEnt again visited banks in Ethiopia in February 2010. The goal of these sessions was to make available the Friends & Family Fund for people who want to start their business in Ethiopia. Various banks have indicated that they want to cooperate with IntEnt in implementing the Friends & Family Fund. The requirements for taking loans are clear and almost all the same with all banks. The interest rated on loans vary between 8% en 13%. IntEnt will start cooperating with Bunna Bank, Commercial Bank and Zemen Bank. For more info, please contact Iwan or Caroline.

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