The success of the centre will depend more on its linkage with other stakeholders , and thus this event was an important milestone in establishing sustainable collaborations .
The Mzumbe entrepreneurship camp was thus complementing government efforts for economic growth and industrialization . Further , the event did not just provide a learning platform but also an inspiration platform that motivated several other start-ups .
Background of the event
This event came at a time when our country is facing an increased global competition and unemployment rate . The scholarly and industry contribution are very important in addressing these challenges .
The changing global business landscape has been witnessed by opening of country borders , technological advancements and growing global interconnections . These changes have opened several new opportunities for both individuals and Enterprises in terms improving standards of living and efficient ways of doing things . To accommodate such opportunities and dynamics , the government and non-government institutions in the country are constantly required to transform through cooperation and knowledge sharing .
In recent years there has been inadequate linkage between the industry ( business firms ) and education institutions . This has been reflected in the research efforts that have not been in line with the issues that are currently facing today ’ s business . The persistence of such weaknesses may likely create a vicious cycle unless addressed .
The problem of youth unemployment for example has been accelerated by the increased number of new graduates in the labour market that is not proportional to rate of new job creation . These graduates are often not well prepared psychologically for self-employment ( entrepreneurship ).
In the effort to address these challenges , the Tanzanian government has made several initiatives , but they often face limitations at the implementation level . Further the sustainability of these efforts remains questionable due to inadequate coordination of the institutions that are responsible for implementation .
Such challenges increases the relevance of cooperation among institutions and the academic institutions need to play even more critical role now than in the past in terms of establishing linkages with the industry and other supporting institutions .
The theme of this event was Share , be Inspired and Grow . First issue is sharing of knowledge : There is no doubt that knowledge plays a significant role on national development . The significance role of knowledge in the national development agenda , calls for governments to be active partners in the knowledge process ( in terms of both formation and acquisition ). Tomorrow ’ s world is defined by our connected efforts .
Knowledge sharing is important because the knowledge that is not shared will have a limited impact to the society . There are several researches that are been done almost on annual bases but few of them are shared to the intended audience . Statistics indicated that , more that 80 % percent of all start-ups do not survive to see their second year . The knowledge of the successful ventures if shared , will likely reduce this rate of failure .
Second issue is Inspiration : The Universities or academic institutions provide much insight on theories , but for the youth to be motivated , they need to be inspired from those who have succeeded . Mzumbe Entrepreneurship Camp does not just provide a learning platform but also an inspiration platform that will make motivate several other start-ups .
The third issue of the event theme is Growth . Those start-ups which survive the challenge of failure will yet face a very major test afterwards , and that is growth . There could be several challenges which may limit the growth of entrepreneurial firms , but the most important one lies in the scope of the firms themselves . Other firms define growth in terms of doing much better than peers in a local area , others view it as performing better within their region , others view it as conquer new opportunities and expand at national level , but yet some view it as expanding beyond the national borders .
Few start-ups inspire to expand at national and the number is even extremely low for those who look growth beyond national borders . National competitiveness is partly defined by how local firms orients themselves in terms of looking opportunities beyond their national borders . It is unfortunate that this is not the work of government because the role of government is to provide the conducive environment for this to take place .
19 Convocation Newsletter | 2017