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Research Article Open access CC BY 4.0

The Role of Innovation Spaces towards the Youth's Engagement in Entrepreneurship; A Case of Innovation Spaces in the Iringa Region

Augustino Festus Augustino, Blandina Kisawike, Haji Ng’elenge

Asian Journal of Economics, Business and Accounting · pp. 408–421 · Published 11 Nov 2023

10.9734/ajeba/2023/v23i221161

Abstract

Aims: This research carefully assessed the role of innovation spaces towards the youth's engagement in entrepreneurship, with independent variables; entrepreneurship training, funding, co-working space, and entrepreneurship competition. Study Design: The design of this study is a convergent parallel design. Place and Duration of Study: The study was carried out at the Kiota hub, Tatua hub, and Rlabs in the Iringa region, between November 2022 and September 2023. Methodology: Data, both quantitative and qualitative, were collected from 90 respondents (87 youth entrepreneurs, 3 hub managers), utilizing closed-ended questionnaires and semi-structured interviews. Quantitative data underwent descriptive and inferential analyses whereas qualitative data were analyzed thematically. Results: All 90 respondents participated successfully, hence a response rate of 100%. The correlation coefficient and P-values for the role of entrepreneurship training, funding, co-working space and entrepreneurship competition are (.703, P=.000), (.738, P=.000), (.511, P=.000) and (.698, P=.000) respectively, confirming their statistical significances towards the engagement of the youth in entrepreneurship. Also, thematic analysis results indicate that entrepreneurship training transforms mindsets and equips youths with entrepreneurial skills, funding is crucial for covering the startup costs, co-working spaces foster a co-creation culture and networking, and entrepreneurship competitions are natural motivators towards the youth's engagement in entrepreneurship. Conclusion: Entrepreneurship training, funding, co-working space, and entrepreneurship competition play significant roles towards the youth's engagement in entrepreneurship. The findings of this research offer valuable insights for innovation spaces to work on the factors that truly contribute towards youths’ entrepreneurship engagement; educational institutions to design learning models that inspire the application of knowledge and establish innovation spaces to promote youth entrepreneurship; and the government to review policies that hinder the engagement of the youth in entrepreneurship.

Innovation innovation spaces youth entrepreneurship hub entrepreneurship

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