StartUp Uganda launches web portal for entrepreneurs to foster economic growth

StartUp Uganda launches web portal for entrepreneurs, the first of its kind in Uganda on the 28th of May 2021 in a combined virtual and physical session. The web portal was launched with the aim of creating an easy to access platform that can act as a guide for anyone seeking information in regards to Uganda’s entrepreneurship ecosystem.

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The physical session of the launch was held at the Outbox Hub in an insightful discussion by panellists like Renita Nabisubi from the Mastercard Foundation, Kevin Asinde the founder of Amarin Financial group and Badru Ntege a Board member of StartUp Uganda.

In efforts to create funding opportunities, StartUp Uganda launches web portal for entrepreneurs

Uganda named one of the most entrepreneurial countries in Africa has shown tremendous growth of startups and businesses over the years. Even more, growth would have been projected had it not been for existing obstacles in the entrepreneurial ecosystem like lack of access to accurate information that can create funding opportunities.

A number of enterprises in Uganda begin with intriguing concepts but fail to progress past the start-up stage due to a lack of sufficient funding to support diverse activities. StartUp Uganda launches web portal for entrepreneurs that will create a missing link between investors and enterprises in need of cash will be bridged.

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Citing lack of capital as one of the biggest problems for startups today, Badru Ntege said, “We are at the beginning of the ecosystem and it’s going to evolve, we are working with partners like Mastercard to help startups. We need efforts which can only happen if we are in an eco system.”

Badru Ntege, a board member of StartUp Uganda, Renita Nabisubi Digital Economy lead at Mastercard foundation

Currently, there is no existing framework or policy from the Ministry of ICT and technology in favour of startups under which they can be guided and catered. Seeing that the concept of startups is quite new in Uganda, a framework is required to govern this growing ecosystem.

One of the panellists, however, explained that it cannot be upon the government to create a framework for startups in Uganda. With a few examples like M-Pesa, Dennis said, “In this world of startups and entrepreneurship let us not wait for the government because we are clearly in a jungle. We have to create our own eco-system M-Pesa is an example of how a startup can evolve in an ecosystem.”

In order to encourage more growth, StartUp Uganda launches web portal for entrepreneurs that will serve as a ‘Who’, ‘Where’, ‘When’, ‘What’ and ‘How’ guide for anyone seeking a one-stop shop to what is happening within Uganda’s entrepreneurship ecosystem.

This initiative avails the web portal as a resource with current information on entrepreneurship activities, profiles of businesses including their key milestones, profiles of Entrepreneurial Support Organizations (ESOs), research publications, investor and mentor profiles to mention but a few.

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