The Technology and Business Incubation Facility (TBIF) of the Kigali Institute of Science and Technology (KIST) is now one of the two finalists for the Incubator of the Year 2009 Award, which will be presented by the National Business Incubation Association, USA.

TBIF based in Kigali, Rwanda, has been a member of infoDev's Global Network of Business Incubators since 2005. To date, TBIF has supported about 50 ventures, 15 of which have graduated out of the incubator. Furthermore, TBIF has provided seed funding worth approx. USD 200,000 to 16 innovative projects and helped more than 300 entrepreneurs with training on business plan writing skills at TBIF. 

Business incubation programs like the Technology and Business Incubation Facility catalyze the process of starting and growing companies by providing entrepreneurs with the expertise, networks and tools they need to make their ventures successful. NBIA estimates that in 2005 alone, North American incubators assisted more than 27,000 start-up companies that provided full-time employment for more than 100,000 workers and generated annual revenue of more than $17 billion. Approximately 5,000 business incubators operate worldwide.

The National Business Incubation Association is the world's leading organization advancing business incubation and entrepreneurship. Each year, the NBIA Incubation Awards honor the business incubation programs, graduates and client companies that exemplify the best of the industry. For further information on this year awards' winners, please visit the NBIA website.