The urban themed innovation ideas competition held its first round of selections of competitors, Capital reported.

Funded by the German Development Bank (KFW), the organizers selected 40 semi-finalists from February 15-17, 2014.

“Most of the ideas revolved around environmental cleanliness, technological inventions, energy retention and construction,” says Nega Namaga (Ph.D.), dean of Africa Beza University College. “It is really amazing what people can come up with.”

Africa Beza University College which serves as a consultant for the project, also oversaw the selection of the 12 judges for the semi-finals.

The panel includes representatives from the Ministry of Science and Technology (MoST), Addis Ababa University (AAU), Commercial Bank of Ethiopia (CBE) as well as private sector representatives, such as, like Zemen Bank, Hibret Bank and Abyssinia Bank, according to Nega.

“While the ideas presented have great merit, the competitors need to refine their business plans,” he says, Nega said. “Thus they will be given training on that aspect and re-submit their work in a better format.”

The 10 winners will get 200,000 birr award from the US$ 133,000 budget provided by the KFW. Nega says that Africa Beza hopes to select the 10 winners within the next 2 or 3 weeks.

Source: Capital