Oftentimes, Ugandan start-up entrepreneurs are faced with a number of challenges among which include inadequacy of entrepreneurship management, limited access to start-up capital, and lack of coordination from key players in the sector among others.
It’s upon this basis that a group of UK based Ugandans under their formed NGOs; Vambulili ventures, Access Fashion, and Manifesting Legacy have committed to empowering and supporting start-ups in Uganda
However, unlike the inaugural competition where both genders participated, the second edition slated for April 23 looks at awarding the best female business idea with UGX5m, three months of mentorship by established startup founders in the United Kingdom, United States of America, and Uganda and also pitch a business idea worth $250,000 to a UK based venture capitalist after the three months of mentoring.
Chris Kalibbala, the Vamubuliri Ventures Executive Director advises that youths need to be go-getters and participate in such initiatives other than being reluctant on pursuing their own dreams.
“You need to get out of bed and go get your dreams. You need to stop waiting on other people to do it for you and to show you how to get what is yours. We are living in a global economy so we need to go and claim Uganda’s stake in the global economy.” He said
He further urged that young people shouldn’t backtrack such efforts and that the three NGOs are committed to supporting young people’s well-being with career and psychological development so that they conquer the opportunity desks.
“With the five million shillings cash give away, the best female entrepreneur must show us how they are going to spend the money, make something in Uganda which can be exported to the rest of the world, show how they are going to create jobs for other people in Uganda and also how they are going to do positive sustainability in Uganda.” He said.
Zinunula Sserumaga, the founder of Access to fashion and a merchandising consultant in the Uk assured that she will connect the beneficiaries with over a billion retailers in her reach and also import those skills to Ugandan women to support their businesses, source funding from the UK and in Uganda and help women necessities needed to start a business.
Natasha Mutebi, founder of Manifesting Legacy said she has come on board to help young people with personal development citing the great need for young people to gain the skills and tools to personally develop themselves.
“You cannot go anywhere in life unless you understand your passion, your skills, and the sourcing for personal development,” she said.
She added that they are also going to network and mentor young people to help them understand how to get where they want to go.
“You can manifest what you desire if you understand the particle tools and also know how to network with people, what your skills say, and what your strength is. How do you understand how to sell yourself in an environment? Basically, this is what it’s going to be about.” She said.
Douglas Smith, the winner of the inaugural competition that constituted over 20 participants in January this year and also the founder of Sports Rise, the first company to make soccer balls in Uganda commended the organizing team for the tremendous efforts of bringing back to their home brothers and sisters.
He said it’s with the amount won that his company reached great market penetration.
“The money helped us launch our latest soccer ball product ‘lulu’, a product for all weather. Lulu is a fusion of contemporary African art and soccer. We are trying to sell African heritage through a soccer ball so it has been so much help and I would like to tell everyone out there that this has been so much impactful to us.” He said.
While one would think if they don’t win it’s the end of it all, inaugural competition second runner up Hakim Luyima said contesting has seen him meet with fellow entrepreneurs and has been able to connect to a good community.
“It’s not that when you attend the competition that’s the end of the relationship. It’s an unending kind of relationship they build with you and help you get other opportunities here and in the diaspora,” he said.
On the 23 at Sheraton hotel, the judging panel and public live vote will give away the 5M Shillings to the best Female Business idea after proof of; the ability to make a product/service that can easily be exported to the diaspora, create jobs locally as well as a Positive local community impact.
All participants will get free Website construction, Social Media Marketing as well as help with achieving first sales and getting first customers.
