Center for Economic Empowerment and Innovation

At Hodmas University College, we are committed to creating a brighter future for the youth of Somalia. Recognizing the critical role that education, entrepreneurship, and innovation play in driving economic growth and social progress, we have established the Center for Economic Empowerment and Innovation. This center serves as a catalyst for change, focusing on equipping the youth with the skills, resources, and opportunities needed to thrive in today’s challenging economic landscape.

Somalia faces a significant challenge with youth unemployment, where the latest statistics reveal that 81% of the population comprises young people. This demographic presents both an immense potential for economic growth and a pressing need for targeted interventions. The Center for Economic Empowerment and Innovation at Hodmas University College is dedicated to tackling this crisis head-on by empowering the youth to become active contributors to the country’s development.

Objectives

  1. Empowering Youth Entrepreneurship:

Foster an entrepreneurial mindset among Somali youth, equipping them with the knowledge, skills, and mindset necessary to start and grow their own businesses.

Provide mentorship, guidance, and support to young entrepreneurs, helping them navigate the challenges of entrepreneurship and ensuring the sustainability of their ventures.

  1. Enhancing Skills and Employability:

Offer vocational training and capacity-building programs tailored to the needs of key sectors in the Somali economy, enhancing the employability of young individuals.

Provide access to relevant industry knowledge, practical skills, and professional development opportunities to prepare youth for successful careers and leadership roles.

  1. Encouraging Innovation and Technological Advancement:

Establish innovation hubs and platforms that foster collaboration, creativity, and the development of innovative solutions to local challenges.

Support research and development initiatives, leveraging technology and innovation to drive economic growth, create employment opportunities, and address societal needs.

Core Programs and Initiatives

  • Entrepreneurship Development:

Business Incubation: Provide comprehensive support, mentorship, and resources to early-stage startups, including business planning, market analysis, and access to funding opportunities.

Entrepreneurship Training: Deliver practical workshops and training programs covering various aspects of entrepreneurship, including ideation, business model development, and financial management.

  • Skills Enhancement and Career Development:

Vocational Training: Offer specialized training programs in key sectors such as technology, agriculture, tourism, and renewable energy, aligning the skills acquired with industry demands.

Professional Development: Provide opportunities for young individuals to enhance their professional skills through workshops, internships, and networking events.

  • Innovation and Research:

Innovation Labs: Create collaborative spaces where young entrepreneurs, students, and professionals can exchange ideas, develop prototypes, and incubate innovative projects.

Research and Development: Support youth-led research initiatives aimed at exploring emerging trends, identifying market gaps, and generating insights to drive innovation.

M&E (Monitoring and Evaluation)

To ensure the effectiveness of our programs, we have established a robust monitoring and evaluation framework. We regularly assess the impact of our initiatives, collect feedback from participants, and use data-driven insights to improve our programs and maximize their outcomes.

Sustainability

At the Center for Economic Empowerment and Innovation, we are committed to long-term sustainability. We collaborate with government agencies, private sector partners, and other stakeholders to develop sustainable funding models, explore income-generating opportunities, and create a self-sustaining ecosystem for youth entrepreneurship and innovation.