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Innovation: A crucial factor for the success of Enterprises

  • By Tobias Meso
  • March 24, 2022
  • 0 Comment
  • 125 Views

Sustainable development goal number nine focuses on industry innovation and infrastructure. Innovation involves the act of making something better or replacing it. This could be a process, a product, or a service. For any enterprise to maintain and remain on the growth curve, innovation must be put at the forefront. This is because of the changing times which come along with new needs that need innovations. Enterprises need to keep themselves up to date by updating their processes and introducing new techniques that will help establish successful ideas to create new value.

Innovation not only allows businesses to stay relevant in a competitive market but it also helps the economy flourish. New ideas are required to solve new challenges, and developing countries, in particular, require them now more than ever. The ability to resolve critical issues depends on the innovations at hand. This means the world would stagnate if it lacks innovations. The fundamental cause for modern existence is innovation. Although some of the effects of invention are undesired and might sometimes cause adverse results, change is inevitable, and in most cases, innovation results in beneficial change.

Youth Innovation and Entrepreneurship week is currently taking place at the JKUAT industrial park. The event is courtesy of the Kiambu County government in partnership with the National government, Kenya Climate Innovation Center (KCIC) and other stakeholders. Dozens of innovative entities are currently being exhibited at the event. Women and youth have embraced innovation as a way of upscaling their businesses. The event is being attended by KCIC Group Chief Executive Officer Dr, Edward Mungai, and other officials.

Mkulima na website is one such innovative enterprise exhibiting at the event. The enterprise that started in 2019 was created by a youthful innovator Willy Mulama. It is meant for farmers to enable them to have direct access to customers. This removes brokers who manipulate prices and significantly reduce profit margins. “We believe that farmers will increase their income when they have direct access to clients. In addition, they can access market information and climate data so that they can avoid pre- preparation losses and post-harvest losses,” said Mulama.
The enterprise was trained through the Agribiz program on refining market and doing financials for its products. Today, it enjoys several clients who use the website to access the market and keep brokers at bay, thus maximizing profits.

Youth and women in agribusiness need to focus more on innovation. Enterprises grow as a result of innovation which increases earnings and value addition. SMEs should be aware that if they do not innovate well and according to the changes in times and need, they might stagnate. Being innovative can also help SMEs grow as they will become creative and turn their creativity into something useful. This will open up more opportunities for the enterprises and allow them to enter new markets and stay on top of current trends.