MIT Alumni, Interested Citizens Discuss on Prospects of AllenaTech Share Company

By: Daniel Zemichael and Mebrahten Gebremariam

MIT Alumni, shareholders, MIT Community, other interested technology professionals and interested citizens from all walks of life have held, an awareness raising consultative workshop on the prospects of the recently the launched AllenaTech Electronic Technologies Share Company.

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The consultative workshop which took place in MIT Hall, on Saturday February 2, 2019, was attended by more than 250 participants who comprise of founding members, shareholders, distinguished figures, and the MIT community. It’s learned that the main target of AllenaTech is enlightening technology based development in Tigray.

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In the full day consultative workshop, a number of business plans and audit report were presented in the morning session and fruitful discussions were followed in the afternoon.

Mr. Tsegazeab Solomon, Board President of the company and one of the presenters, said “our society is still at its lower economy; and thus we haven’t yet been part of the techno global world.” Hence, he adds: “The need to establish the AllenaTech Electronic Technologies S.C. as an investment emanates from the very need to support the development agendas of our people with advanced technology as well as contribute to building knowledge-based economy.”

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Similarly, Mr. Alem Hagos, CEO of AllenaTech Electronic Technologies S.C., in his presentation regarding the technology-based business intervention area stated that the company will create technology ecosystem convenient for new startups.

According to MIT Vice-Dean and founding member of the upcoming share company, Dr. Leake Enquai, AllenaTech Electronic Technologies S.C. has brought best minds together envisioning a much advanced society. “The intervention of AllenaTech focuses on high-tech information communication technology which impacts and speeds up the regional transformation” he is quoted as saying.

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The upcoming investment connects more than a thousand interested former MIT graduates, technology startup business companies and many more concerned stakeholders.

Ms. Semhal Niguse, an MIT Alumni who participated in the launching conference, said that she is so inspired by the great initiative that managed to connect the best minds together to contribute the best they can under the umbrella of AllenaTech Electronic Technologies S.C.

A founding member of MIT as well as a seasoned leader and consultant at various local and international organizations, Mr. Desta Asgedom, on his part said, AllenaTech Electronic Technologies S.C. is a dream come true project. “Though not yet [fully realized], at the startup of MIT we had planned to build competent ICT center so that the masterly graduates will contribute to the regional development process through innovation and technological advancement.” He adds “What I feel is this vision is being applied on the ground through the establishment of AllenaTech but what is expected is they have to instigate with the resource they have in hand, i.e. technological expertise”.

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He also advises that the company has to balance the social responsibility and public demand of transforming the region in one side and making profit that sustain the emerging investment in the other.

AllenaTech community envisions “To create a leading, influential and innovative holding company in key investment undertakings that will help transform the economy to knowledge base by 2025.”

To this end, the share company has finalized the need assessment and business plan of three investment areas: ICT, education and health. According to Dr. Leake, the education sector investment ranges from Kindergarten to College levels. The investment will be started by KG and Colleges and it’s through time the elementary to preparatory school levels will follow. Likewise, he said, the company will begin the health sector business with primary hospital which later will be upgraded to tertiary hospital level. And, he said that the company, AllenaTech Electronic Technologies S.C., will further invest in the areas of agriculture, manufacturing, construction and electro-mechanical sectors through time.

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More than 1000 shares have been sold so far the remaining will remain active until the end of this month; February 2019 (for further information, you may visit the official website of the company: www.allenatech.com).

A tentative board, which has seven members, is actively working until it’s replaced by a new BOARD in the upcoming general assembly, scheduled to be held at the end of February 2019.