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Kafeero Foundation To Skill Entrepreneurs, Give Capital To Startups

In a bid to enhance the growth of startups in Africa and beyond, Kafeero Foundation, a social Enterprise organisation has organised a symposium dubbed “Power the Next” that will bring onboard different startups aimed at providing a platform to support young business minds to nurture their business ideas to the next level.

The event which will take place from 11th -16th November 2019 at Serena hotel will also open up a training  competition  for startups to win $1400 (Shs5.18m) seed capital to scale up and sustain their business.

Speaking during a press conference held at Kafeero Foundation offices in Muyenga on Thursday, the Foundation  Executive Director, Newton Bayo Karera (pictured), said that several training opportunities will be held in the run up to the event;  business owners will be trained on how to incorporate technology into their business for growth and sustainability.

He added that on the same event, with support from Aspire Education Support, there will be an education symposium to discuss gaps in education system and present a report on action steps proposed for the government.

“While we aim to shape inclusive growth and shared future in the 4th Industrial revolution, our focus now is to bring together about 1,000 top market players and leaders to share ideas, network, learn and invest as away to make this journey a reality,” he said.

Kafeero noted  that the competition for seed capital is open to all startups with a tech aspect and some of the startups whose proposals have been  received are  from Makerere University Business School, Uganda Manufacturing Association and  ICT ministry among others.

He urged government and stakeholders to invest in programs that enhance the 4th Revolution and prepare young innovators and business leaders for  the future in order to avoid remaining behind.

The startup categories that will be supported included; Tech startups of the year, Female Entrepreneur of the year, Male Innovator solution, African startup of the year among others.

By Drake Nyamugabwa

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