[Uganda] 1,000 young entrepreneurs to receive start-up boost
21-06-2022 21:18:00 | by: Pascaline Icyizere | hits: 935 | Tags:

The International Trade Centre (ITC) and Korea SMEs and Startups Agency (KOSME) launched today the Youth Start-up Academy Uganda project. The project will incubate 1,000 young entrepreneurs and improve the start-up ecosystem in Uganda to increase youth employment and boost businesses.

Participating entrepreneurs will benefit from a three-stage incubation programme, access a fully equipped business creation facility including co-working spaces, IT room and maker spaces, the opportunity to widen their business networks, and develop joint ventures with local, regional and international start-ups.

The young entrepreneurs who will participate in the 1st round of incubation, were recruited during the official opening ceremony held in Kampala, while 10 entrepreneurs had the chance to pitch their business model in front of judges at an investment relation pitching competition. The programme will start in the second half of 2022.

The Youth Start-up Academy Uganda follows the success of the same programme in the Republic of Korea, implemented by KOSME. Since its start, the programme supported the creation of almost 4,800 start-ups, including two unicorns with a current market valuation that exceeds $1 billion. The Youth-Start-up Academy project in Uganda is a joint effort between ITC, KOSME, the National Information Technology Authority (NITA-U) and Hive Colab, a co-working space in Kampala.

Hatwib Mugasa, Executive Director of NITA-U, H.E. Chris Baryomunsi, Minister for ICT & National Guidance Uganda and H.E. Sung-soo Park, Ambassador at the Embassy of the Republic of Korea in Uganda participated in the ceremony to congratulate the project launch and pledge their support.