Tanzania officially launched the Tanzania Entrepreneurship and Competitiveness Centre (TECC) to promote entrepreneurial innovation and competitiveness in the country.
TECC aims to promote entrepreneurship and competitiveness in Small and Medium Enterprises (SMEs) in Tanzania through:
- Skills development in entrepreneurship, innovation and competitiveness
- Promoting local economic development using the triple helix cluster approach (university-industry-government relationships for innovation)
- Providing business intelligence through studies and advisory services
Jenista Mhagama, Minister of State in Tanzania’s Prime Minister’s Office responsible for Policy, Parliamentary Affairs, Labor, Employment, Youth and the Disabled, said that the Government supports the private sector in SMEs promotion and urged companies and institutions to assist TECC.
TECC was founded by the Tanzania Private Sector Foundation (TPSF), the National Economic Empowerment Council (NEEC), and the Commission for Science and Technology (COSTECH).
The establishment of TECC is part of Tanzania’s Private Sector Competitiveness Project (PSCP).
The International Development Agency (IDA) and other bilateral donors funded and initiated the project in 2005 to make the Tanzanian private sector more competitive and to create sustainable conditions for enterprise creation and growth.
This will be achieved by increasing the capacity of the local private sector to participate in domestic and international markets, and to access financial services.
In Tanzania, 95% of the businesses are SMEs, and they represent about 35% of the country’s GDP, according to the Tanzania Chamber of Commerce, Industry and Agriculture (TCCIA).