Ms Barbara Birungi Mutabazi, the co-founder and team leader at Hive Colab. PHOTO BY DOROTHY NAKAWEESI
What impact has the Youth Startup Academy Uganda (YSAU) had on the startups that participated in the incubation programme?
The businesses we have supported have not only expanded to other East African countries but also collaborated with South Korean startups. These partnerships allow them to enter the Korean market, while bringing Korean startups into Uganda.
Today, we are not just concluding the pilot, we are celebrating its success. We have proven that this initiative can transform the trajectory of thousands of entrepreneurs across Uganda.
Does the closing of YSAU mean the end of the incubation of startups?
In the next phase of the YSAU start-up which starts in January 2025, we shall open up new cohorts. However, the businesses that have gone through this programme will be supported by their mentors. We shall introduce them to investors within our networks both locally and globally to ensure that they are certified to export their services and products and then ensure that they also create a community of support around each other.
What has the government contributed to all this?
NITAU not only provided Internet but also different resources for our entrepreneurs. We now want to see the start-up policy published and implemented in the country by the Ministry of ICT to support our entrepreneurs.
We want to work with academia to ensure that the quality of young people leaving the university is ready to build businesses that will succeed. When you look at banks or financial institutions, what is their role in this? Can they invest in the businesses?
We want to see other private sector players buying from the local start-ups using local software, local products, and services rather than importing from elsewhere. We want to show that Ugandans can do this.
Shed some light on some of the success stories of this program.
We have achieved several significant successes, including securing the first Korean investment in a Ugandan startup through our program. Yunga, one of the businesses from our first cohort, demonstrated strong growth and value, which helped convince Korean investors of its potential. As a result, this investment has not only highlighted Uganda as a promising market but also shown that successful investments in the country are entirely possible.
So, we are seeing more Korean investors coming in. We have also seen businesses go into other countries, for example, Boringo Fresh is not only working in Uganda but also Kenya. They are also thinking of going to Tanzania in next year.
We have seen Share Card and EMC card partner with Korean businesses. We are also bringing in more technological advancement to Mscan so that they can improve their services.
Through these collaborations, we are witnessing significant growth in our businesses, expanding not only on a local scale but also gaining traction globally.
What unique challenges have you encountered while incubating these startups?
One of the biggest challenges is many entrepreneurs do not fully recognise their potential. As someone with more than 15 years of experience, I can see the tremendous opportunities in many of these businesses—not just to thrive locally in Uganda, but to grow and scale globally.
However, when I speak to the entrepreneurs and show them the possibilities for their businesses, many are focused on short-term goals, like earning a dollar tomorrow, despite the support they receive. If they can't see the bigger picture, it is difficult to help them envision one.
Businesses should look at what other countries are doing.
We need our businesses to think bigger. One of the biggest issues is that we tend to think too small and lack the mindset to think outside the box. It is essential that we look at what other countries are doing, understand the scale at which they are operating, and think beyond what we know. Part of this challenge stems from a lack of exposure to international markets and opportunities.
For instance, our programme is focused on knowledge exchange. Last year, we took a group of 12 Ugandan businesses to Korea, where they had the chance to share a stage with Korean startups. Seeing what their Korean counterparts were pitching and experiencing the scale of their businesses opened their eyes to new possibilities. They returned with a much broader vision and a mindset focused on growth. The lack of exposure is a major barrier for many of our businesses.
Additionally, Uganda has not done enough to market its startup ecosystem to the world. Countries such as Kenya have done a great job of positioning themselves on the global; stage, but we have not yet built that same recognition. This lack of visibility about the potential and value of Uganda’s startups has limited the amount of investment flowing into the country.
We should raise our global profile so the world understands that Uganda is home to investable startups that offer strong returns. With greater exposure, we can unlock the investments that will help our businesses and the entire ecosystem thrive.
