Kenya’s Start-Up Bill: Here’s what you need to know

Kenya's startup bill, set to address challenges faced by startups hindering their growth, is currently in the process of being debated in the country's Senate and National Assembly. Victor Otieno, an SME consultant and one of the drivers of the bill, provided insights into its main focuses and potential impact on the economy. The bill, which has been in the works since October 2019, aims to provide recognition for startups in the law, offer incentives such as tax breaks and intellectual property support, and promote collaboration between the government, private sector, and academia through a triple helix approach. By creating a favorable ecosystem for startups to thrive, the bill is expected to contribute to job creation and economic growth in Kenya. With high rates of unemployment and a significant number of new entrants to the labor market annually, the bill's emphasis on supporting startups could be a vital step in addressing these challenges. If passed, the bill has the potential to transform the startup landscape in Kenya and position startups as the next economic frontier. The timeline for the bill includes readings in both houses, extensive public participation, and a potential enactment by early 2021. Every entrepreneur in Kenya should take note of the bill's distinction between startups and SMEs, understanding that startups, regardless of their sector, can qualify for the incentives proposed by the bill. The bill's reception among entrepreneurs and stakeholders has been largely positive, with a strong interest in participating in the public consultation process. The potential transformation that the bill could bring to the startup ecosystem in Kenya is seen as a welcome relief, especially for entrepreneurs within the startup sector.