[Startup Interview] Ivan Mugeere, Founder, Infosis Business Solutions, Uganda
Ivan Mugeere founded his company a year and a half-ago, following his several years of study and work in Europe. He speaks to Africa Business Communities about starting a business in his country, Uganda, the business environment, governmental (non)support, etc.
What is Infosis Business Solutions Ltd.?
We are an IT company providing custom-built solutions, and not just products, to our clients. Infosis specializes in the design and development of professional Web Based and Standalone Information Systems as well as development of corporate websites; all of which are integrated with Short Messaging (SMS) Platforms wherever applicable. We also resell key solutions of our development partners in INDIA, USA and South Africa.
Why did you start Infosis?
Actually the dream to start a company did not begin here in Uganda. Bits and pieces of the business model slowly came together while I was on the move doing different corporate AIESEC internships in Pakistan and Norway, and as a result of my observations during travels.
For all the time I was in Norway for a work exchange, I got to appreciate how first world countries readily and centrally share information to the general public and in a work environment, and what value this adds to their country.
I noticed that in a work environment using web based systems, it is really easy to identify whoever is slowing down any given business process. Work, research or police investigations (among others) are therefore done faster and more efficiently using fewer people and resources. Clients are also able to access valuable information from anywhere and even have the ability to perform key transactions, thus increasing client user experiences.
To excel sometimes means losing all you have first, sometimes it means leading, and sometimes following or getting out of the way for others. I believed that quitting my employment in Norway would open the way for me to create a new world for myself – I could come home and deploy the skills acquired, practice them and create more employment opportunities back in my country. So I did just that! I organized a team of graduates specifically with IT backgrounds and boom!! I started INFOSIS.
Who owns Infosis and how is it financed?
I am the only shareholder and therefore own 100% of its shares. It is financed from personal savings and receipts from sales generated. After business costs, I basically re-invest everything wisely.
How would you describe the Startup Environment in Uganda in terms of support that is given by the government?
Huh! The government support towards entrepreneurs is very minimal, at least from what I have experienced and observed.
As young entrepreneurs, we still have difficulties in business/company registration as it takes a minimum of one week. We also have no tax exemptions, which greatly reduces the initial capital amount for investment. However, a foreign investor with “new money” would most likely be able to pull some strings and get free land from Uganda Investment Authority and some tax holidays.
The copyrights and patent rights ownerships are also not taken very seriously, I think.
What roles do banks and investors play in Uganda towards startups?
Banks? Not much actually, but if you bank with one of the good banks for at least 6 months, you can get an LPO and invoice financing opportunities, business growth loans, some investment advice and maybe asset based financing at affordable interest rates.
As for investors, they are mostly very busy but if you get someone interested and passionate about your business, they could offer you business development and management mentorship/coaching, skill-based trainings and business networking opportunities.
How effective is crowd-funding as a tool for startups in Uganda?
This model of business funding is not effective for startups in Uganda. This is because the attitude of the population tends to support circumstantial events and endangered lives, but not much attention is paid to entrepreneurs.
What can Infosis offer that the competition cannot?
Well, through our research we keep identifying weaknesses in our target market and developing custom solutions (mobile apps and web based solutions) which we also intend to implement as businesses.
Given our development partners in India and South Africa and my experience in four different markets (South Asia, Scandinavian, Central Europe and East Africa), I am confident that our solutions will be very unique to the local market in Uganda.
What does Infosis need to be able to grow?
We actually need a lot of assistance. I think it would really be great to have more systems development and re-sales partnerships, skills based mentorship and training in business and sales management, increased advertising that is carefully thought-out and aimed at our target audience about our products.
What will Infosis deliver in 2015?
This year we are so eager and cannot wait to release our first custom built application – Pocket Bank.
Pocket Bank is a hybrid standalone payment application integrating with different telecom companies' mobile phone money transfer systems and different local and international banks.
Pocket Bank is a Virtual Banking for Africa; all banking activities that you get in a banking hall on your computer, tablet and your mobile phone (smart phone and ordinary phone using a USSD)
Actually we have managed to secure development seed funding for Pocket Bank from The Tony Elumelu Fondation, so with that inflow of cash we intend to reach our next milestone very soon. Our plan is to launch Pocket Bank in October 2015.
What do you want people and companies who read this interview to do?
Surely we need all the help we can get; we need more avenues for business to business marketing, employee corporate networking and mentorship, profitable business partnerships especially in sales and software/system development.
We also need joint research ventures and resource mobilization ventures.
Africa Business Communities is conducting a series of interviews with startup businesses in Africa. Are you a startup in Africa and interested in an interview? Please send an e-mail to andrea@africabusinesscommunities.com