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Government has finalized the Innovation and Inventors Bill, which introduces a Venture Capital Fund aimed at supporting innovators across the country.
Technology and Science Minister, Felix Mutati, said the fund would be managed independently of the government and would include young innovators on its board to ensure inclusivity in investment decisions.
Mutati made the announcement during the Innovation and Technology Summit (ITS) Kopala Media Launch held at BongoHive, Zepre House, in Lusaka on Friday evening.
The initiative is being driven by a network of innovation ecosystem players that include BongoHive, the Finnish Embassy, the Greentech4ce Project, Minetech Hub at NISIR, Mukuba Unipod at Copperbelt University, UNDP Accelerator Lab, Women Entrepreneurship Access Center, Zambia Business Angels Network, and ZICTA.
Mutati commended the partnership between Zambia and Finland, saying the Finnish government had inspired Zambia by demonstrating how innovative ideas can transform an economy.
“Innovation starts with an idea,” he said, affirming the government’s commitment to make the Innovation and Technology Summit an annual event.
The Minister also thanked Finnish Ambassador, Helinä Saana, for supporting Zambia through financial aid and ecosystem engagement, noting that collaboration among innovators produces impactful results.
He underscored the importance of private sector participation—especially from mining companies—in investing in youth-led innovations that can address operational, productivity, and environmental challenges.
“I also want to encourage institutions such as BongoHive and the Zambia Business Angels Network to participate actively in the upcoming event. The Copperbelt-based summit will be elevated as the ‘Kopala Summit’ to attract wider participation and visibility,” Mutati said.
He further highlighted the key outcomes of the initiative, including the launch of the Innovation and Inventors Bill, establishment of the Venture Capital Fund, inclusion of youth in investment decisions, and the institutionalization of the summit as an annual national event.
National Technology Business Centre (NTBC) Director, Hachombwa Ng’andu, expressed gratitude to stakeholders for attending the launch, noting that ITS-Kopala builds on last year’s ITS-Z Forum held in Lusaka.
“This year’s summit will take place in Kitwe at Garden Court and aligns with NTBC’s mandate to promote innovation, technology transfer, and commercialization,” Ng’andu said.
He emphasized that NTBC could not achieve its mission alone and called for stronger collaboration among ecosystem partners to ensure the summit’s success.
Ng’andu reaffirmed NTBC’s commitment to inclusion and diversity, saying that hosting the summit on the Copperbelt would broaden participation and outreach.
Meanwhile, Finnish Ambassador Helinä Saana reaffirmed Finland’s commitment to supporting Zambia’s innovation journey, referencing Minister Mutati’s pledge to make the Innovation and Technology Summit an annual event.
“Finland, too, pledged continued partnership—and has kept that promise,” Saana said.
She traced the origins of ITS-Kopala to Slush, Finland’s world-renowned startup and tech event, which inspired Zambia’s first innovation summit in 2023.
“The Zambian edition successfully brought together over 700 innovators and startups, many of whom secured investments after networking at the global Slush event,” Saana highlighted.
The Ambassador emphasized that ITS-Kopala was not merely an investment platform but one aimed at transformative innovation—empowering young Zambians and driving sustainable, inclusive growth.
She also announced that Finland would bring Finnish participants to the Copperbelt event to promote cross-learning and collaboration.
Focusing on the summit’s mining innovation theme, Saana called for sustainable and responsible mining, noting that technology can help reduce environmental harm, particularly to water resources.
She encouraged broad participation—across gender, age, and background—to harness the power of inclusion in innovation.
“I want to urge startups, academia, investors, and government to collaborate in shaping Zambia’s future through innovation,” Saana said.
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