According to the Kenya economic survey 2014 report, university enrolment rose by 22.8 per cent, from 361,379 in 2013 to 443,783 in 2014. On average over the last 5 years the enrollment growth rate has been at over 20%. On the other hand however the unemployment rate has increased to 40% in the last two years from 12 per cent in 2006. This can be translated to mean that close to 16 million Kenyans have no formal employments. This is a very alarming trend, which can be disastrous if left to continue growing. It is this social-economic challenge that drove Mount Kenya University (MKU) to establish Equip Africa Institute as a company owned by limited guarantee to be a Pan-African Training, Research and Consultancy unit offering high quality Executive Management Trainings & Consultancy services to the Public and Private sectors across Africa.
With the dilemma of biting unemployment among youth in the midst of increased university enrollment, the Chairman Board of Trustees launched an Enterprise Academy program targeting MKU Alumni with business ideas in 2014. A total of 9 graduates joined a residential entrepreneurship training program between February– May 2014 and successfully completed the program, received seed capital and are
currently in the market with their own enterprises.
Taking the learning’s from last year, Chairman Board of Trustees, Dr Simon Gicharu as a tribute to his win in the Master Entrepreneur category of the Eastern Africa Ernst & Young Entrepreneur of the Year (EOY) 2014 Award, has taken a strategic decision to establish the Graduate Enterprise Academy (GEA) as a spinoff of Mount Kenya University and Equip Africa Institute.
Graduates apply and send descriptions of their startups, are short listed, interviewed, trained through a combination of 3 weekend’s boot camps and 3 months of virtual incubation. They are networked with funding organizations and mentors for greater prosperity of their businesses.
1.Provide Business Mentorship and Coaching to Graduate Youth from East Africa to establish growth oriented businesses.
2.Provide short term, sector specific Practical Entrepreneurship Training to targeted entrepreneurs
3.Provide customized, market driven innovation management trainings for SMEs
In 2016 the Graduate Enterprise Academy has enrolled 15 MKU alumni who have established businesses so as to help them grow their business to the next level. The approach being used is practical training and mentorship.
Graduate Enterprise Academy would be pleased to work with you in empowering the young people to be job creators rather than Job seekers.