Wednesday, 10 February 2016

Making your startup dreams come true

Making your startup dreams come trueWe all know that life as an entrepreneurial startup can be little harsh, but with the correct support, training and skills development particularly in those early days, attaining business success becomes more of a reality.   Social entrepreneurs dream of changing the world - but to attain more than pockets of success, they need to operate at scale.

Yet many companies get stuck in the “missing middle” - or “the valley of death” - too small to get loans from commercial banks and too big for microfinance. Support services are there for rescue to fill the gaps.   Uganda's population - young and culturally varied - is a demographic window of opportunity with the potential to set free human inventiveness as a groundwork for enterprise and innovations that create decent well-paying jobs and to develop opportunity for every Ugandan man, woman, youth and child.  

Uganda is normally seen as the country with the most vivacious and successful startup industry in Africa. It is documented that 77% of Uganda’s population are under 30 years of age, while there are 7,310,386 youth from the ages of 15-24 years of age living in Uganda, nearly 80% of people in Uganda and across African countries work in the informal sector. Many of the 11 million youth entering Africa’s labour market every year are tasked with creating their own jobs or face unemployment.  

The Innovations Village, an entrepreneurs' and innovators forum, has opened shop in Kampala for people with business ideas to receive mentorship and capital to turn their ideas into feasible enterprise.   Mr Jimmy Serugo, a trustee of the Chief Executive Officers (CEO) summit,said the Innovations Village is a product of last year's CEO meeting where business leaders articulated the need for a forum for young people to express their ideas to people who can develop them into businesses, products and services. Read more....

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