Angola is diversifying its oil-dependent economy with the launch of the Luanda Science and Technology Park (Luanda Tech), supported by the African Development Bank Group through a US$100 million project aimed at turning scientific research into commercial ventures and promoting young entrepreneurs.
The launch on Friday June 26, marked one of Angola’s most ambitious investments in its knowledge economy, bringing together researchers, universities, startups and private businesses under one innovation ecosystem as African governments race to build technology-driven economies and create jobs for a rapidly expanding youth population.
President João Lourenço, who officially opened the facility in Luanda, said the project represents a strategic investment in Angola’s future competitiveness.
“This Science and Technology Park comes at the right time, because a country that wants to develop must pay attention to science and technology.”
He said the facility is expected to become a national innovation hub connecting academia, industry and entrepreneurs.
“We want this infrastructure to become a meeting point between academia, scientific research, companies and young entrepreneurs. It is through knowledge, innovation and the capacity of our young people that we will build new solutions to address Angola’s challenges. This investment represents an important step towards strengthening national research capacities and advancing the country’s technological development.”
The technology park forms part of a broader US$100 million partnership between the Angolan government and the African Development Bank that has already modernised the country’s scientific infrastructure, refurbished laboratories and expanded science education to create a pipeline of innovators capable of driving industrial transformation.
The project has equipped 54 science laboratories across 18 secondary schools, trained more than 1,500 faculty members, researchers, technicians, science teachers and academic counsellors, while financing 73 research projects, nearly one-third of which were awarded to women researchers.
Recognising that innovation begins with education, the programme has also financed 161 international scholarships and funded secondary education for 1,204 girls from disadvantaged communities to pursue careers in science, technology and research.
The investment comes as African economies increasingly shift from resource dependence toward knowledge-based industries.
According to the African Development Bank, Africa’s digital economy could contribute US$712 billion to the continent’s GDP by 2050 if governments accelerate investment in digital infrastructure, innovation ecosystems and technology skills.
For Angola, Africa’s second-largest oil producer, strengthening science and entrepreneurship has become central to reducing dependence on petroleum revenues while creating high-value jobs in emerging industries.
African Development Bank Country Manager Pietro Toigo said the initiative extends beyond constructing buildings and laboratories.
“This is not merely the launch of an important infrastructure asset. It is the celebration of a national vision: a vision of an Angola that invests in knowledge, empowers its youth, strengthens its scientific capabilities, and builds new engines for economic diversification and inclusive growth.”
Toigo said the Bank is already preparing the project’s second phase, which will expand technology corridors into other provinces to deepen innovation outside the capital.
He said Luanda Tech has been designed to bridge the long-standing gap between scientific research and commercial enterprise.
“The Luanda Tech project aims to create a conducive environment where researchers, entrepreneurs, students and innovators can transform ideas into solutions, and solutions into economic value.”
He added that the investment aligns with Angola’s National Development Plan 2023–2027 and the African Development Bank’s broader strategy of transforming Africa’s youthful population into an economic advantage through investment in education, entrepreneurship, innovation and employment.
Minister of Higher Education, Science and Technology Albano Lopes Ferreira described the facility as a milestone in Angola’s national innovation agenda.
“The inauguration of the Science and Technology Park represents an important milestone in the implementation of Angola’s national science, technology and innovation policy. This infrastructure creates the conditions to strengthen scientific research, promote innovation, and contribute to economic diversification through knowledge, competitiveness and the development of national solutions.”
Across Africa, governments are intensifying efforts to establish technology parks, innovation districts and startup ecosystems as competition grows to attract venture capital, technology companies and research investment.
Countries including Kenya, Rwanda, Nigeria, South Africa and Egypt have significantly expanded support for innovation-led enterprises over the past decade, with entrepreneurship increasingly viewed as a critical driver of industrialisation, digital transformation and youth employment.
The Luanda Science and Technology Park positions Angola to compete in that emerging innovation economy by providing a platform where scientific discoveries can evolve into commercially viable businesses, creating new opportunities for startups, researchers and technology entrepreneurs.
As African economies pursue new growth engines beyond natural resources, Angola is betting on its next generation of entrepreneurs, scientists and innovators becoming one of its most valuable national assets.
