INCUBATING start-ups in the micro, small and medium sized enterprises (MSME) space is being taken seriously by Government with the unveiling this week of the “Landscape Assessment of Accelerators & Incubators in Fiji” study conducted by the Reserve Bank of Fiji and the Australian Government’s Market Development Facility.

Deputy Prime Minister and Minister for Trade Manoa Kamikamica said the study provided crucial insights into the landscape for accelerators and incubators and examined opportunities and challenges for entrepreneurship in Fiji and was therefore a stepping stone to empowering Fiji’s MSMEs.

“We recognise that entrepreneurship often begins later in life in Fiji. For instance, our Young Entrepreneurship Scheme has seen applicants as old as 74,” Mr Kamikamica said.

“This highlights a need for better guidance for aspiring entrepreneurs across all ages — ultimately fostering an environment for entrepreneur to thrive.”

He said globally, MSMEs drive economic growth and innovation, making up 96 per cent of all enterprises and employing 56 per cent of the workforce.

“In Fiji, they represent 82 per cent of registered businesses, underscoring their vital role in our economy.

“The Government is committed to supporting incubation services, as evidenced by our collaboration with the Food and Agriculture Organisation of the United Nations to establish an agribusiness incubation center.

“The insights from this assessment will help us evolve these initiatives into a comprehensive National Incubation Centre,” Mr Kamikamica said.

NOTE: This article was first published in the print version of the Fiji Times dated December 19, 2024.