Sparc Systems has launched its Innovation Space, a new initiative aimed at bridging the gap between innovation and commercialisation by helping entrepreneurs transform promising ideas into investment-ready businesses.
The Innovation Space has been established to provide startups and innovators with the resources they need to develop sustainable enterprises capable of competing on both local and international markets.
As part of the initiative, selected entrepreneurs will have access to equity financing ranging from K5 million to K100 million, depending on the scale and potential of their business ventures.
Speaking during the launch, Sparc Systems Managing Director Wisely Phiri said the Innovation Space was designed to provide entrepreneurs with the infrastructure, funding, and technical expertise required to build globally competitive companies.
Phiri said the programme is expected to nurture innovative ideas into commercially viable businesses while contributing to job creation and economic growth in Malawi.
Applications for the inaugural cohort officially opened on June 25 and will remain open until July 31, 2026, with aspiring entrepreneurs encouraged to submit their proposals within the application period.
The initiative has received praise from key government officials, including Minister of Industrialisation, Business, Trade and Tourism Simoni Itaye and Reserve Bank of Malawi Deputy Governor responsible for Operations Dr. Kisu Simwaka, who commended Sparc Systems for promoting innovation and entrepreneurship in the country.
The launch of the Innovation Space marks another step towards strengthening Malawi’s innovation ecosystem by providing emerging businesses with access to capital, mentorship, and the support needed to turn innovative ideas into successful commercial ventures.
