SIMAD iLab continues to implement The Next Economy PhaseII in Mogadishu, Somalia in 2023. The Next Economy (TNE) empowers youth in Nigeria, Mali, and Somalia to unleash their talents, build their confidence, and hone the skills they need for a successful career in a job or as an entrepreneur. To accommodate the diverse ambitions of young people entering the labor market, together with local partners, TNE offers different programs.

After The Next Economy “the original” (2015-2019),  TNE continues for another four years with The Next Economy, Phase 2 (2020-2023). SIMAD iLab is the only official Implementing Partner for the program in Mogadishu, Somalia. The Next Economy is an initiative of SOS Children’s Villages Netherlands, Crosswise Works, and GoodUp. The program is made possible by the Dutch Ministry of Foreign Affairs.

TNE Learning Tracks

All accepted participants will first join the Core Life Skills training. The Core Life Skills training defines and shapes skills and what the youth want in their work life. The decision to either pursue employment or start a business after this initial training is youth-led with support by their mentor/coach. In other words, participants will have the option to select which track to continue with: the Employability track (implemented by SOS Children VillagesSomalia) or the Entrepreneurship track (implemented by SIMAD iLab).

Under the Entrepreneurship track, the Somali youth work from their business idea development to a registered and validated start-up in 6 months. Youth are trained in ideation, business model canvas, pitching, and product and market validation. All startups are validated through a crowdfunding bootcamp. Each successful campaign will then receive a matching fund of $500 from the program to inspire their initial journeys.

Also, the TNE program has an Incubation Training component that scouts promising startups and supports them to grow further by providing the necessary guidance to prepare them, in cooperation with the private sector, for a ‘decent job’.

Call for Applications

SIMAD iLab is calling for applications for The Next Economy 2022 Batch 6 in Mogadishu. The program is now open for applications. CLICK HERE to apply. Applications will close on January 06, 2023, and sessions will start on January 16, 2023.

For more information, please visit the official TNE page at https://next-economy.com/en/.

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