By Asha Elmi - Reporter
Mogadishu, 12 September 2026 Somali National University and IBS Bank on Saturday launched a program to help university students turn innovative ideas into businesses, bringing together academic training and private-sector financing.
The Abuur program selected 110 students following a competitive selection process, the university said at the launch.
The students will spend six months learning how to develop their ideas into businesses, after which IBS Bank will finance projects considered viable and beneficial to Somalia, according to the university.
The initiative is intended to encourage students to develop ideas in areas including technology, innovation, intellectual property and business, and to move research from academic work into practical applications.
University President Mohamed Mohamud said the program would give students an opportunity to develop their ideas into businesses and contribute to the country's economy.
The university, which resumed operations in 2014, has since enrolled more than 16,000 students and graduated about 6,000, according to information presented at the event.
President Hassan Sheikh Mohamud, who also serves as chancellor of the university, said universities should not only produce knowledge but ensure that research has a practical impact on society.
He said the Abuur program could help turn research that would otherwise remain in books and libraries into productive activities.
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Hassan also urged young Somalis to pursue education and skills in the country rather than risk dangerous migration, saying opportunities existed but required work and productivity.
He called for recruitment and promotion to be based on qualifications and ability rather than personal or clan connections, and said Abuur should encourage young people to create businesses, technologies and other forms of intellectual property.
IBS Bank Deputy Chairman Abdirizaq Ali Warsame said the bank was investing in young people and encouraged students to develop companies capable of creating jobs.
He said people with good business ideas should be able to seek financing even if they did not already have substantial capital.
Education Minister Farah Sheikh Abdulkadir said cooperation among universities, research institutions, businesses and civil society was important for strengthening Somalia's education sector.
The National University has also expanded research and professional training, including an emergency medical training center established in cooperation with the Ministry of Health and the World Health Organization.
Hassan praised the university's international certification programs, including training linked to the American Heart Association.
The Abuur program is part of broader efforts to connect education and research with employment, entrepreneurship and economic development in Somalia.