The 5th iteration of Uganda Innovation Week 2023 has been revealed in a ground-breaking partnership between Startup Uganda, the Mastercard Foundation, and Uganda’s Ministry of ICT and National Guidance.
The National ICT Innovation Hub-Nakawa hosted a press conference on October 11 to introduce the eagerly awaited Innovation Week, which is scheduled to run from November 22 to 24 and has as its theme: “Digital Economy and the Opportunities it Presents for the Ugandan Entrepreneur to Adapt or be Left Behind.”
The executive director of Refactory, Michael Niyitegeka, spoke to the media and emphasized the importance of the fifth iteration of the Kampala Innovation Week.
He emphasized the crucial part it will play in bringing the different startup ecosystem together, acknowledging the particular difficulties they confront, and emphasizing the value of cooperation and assistance among them.
The indisputable impact of the digital economy, which is expected to continue to be a dominant force in the landscape, is at the heart of this year’s event, according to him.
Niyitegeka stressed that for entrepreneurs, the digital economy is their arena, regardless of their industry, whether they are in the fashion, food service, or any other field. Throughout his speech, the phrase “Be part of or be left behind” resounded, emphasizing the limited options and the pressing need for serious debate during Innovation Week.
He also emphasized that the customary framework of numerous speakers and workshops is not being used for this year’s Innovation Week. Instead, it will be organized over the course of three days around three essential elements.
“Master classes” taught by sector experts will be held in the mornings and will focus on important elements for businesses wishing to integrate into the digital economy. From 8 to 10 am, there will be learning and engagement activities to make sure participants develop the necessary competence and capacities.
Entrepreneurs will have the chance to network with specialized service providers, such as venture capital firms, in the afternoons. To encourage one-on-one meetings between entrepreneurs and important players in the startup ecosystem, special meeting areas will be developed.
Entrepreneurs will have the opportunity to present their initiatives and consider prospective partnerships thanks to the participation of organizations like NSSF and the Mastercard Foundation in in-depth conversations.
Niyitegeka further emphasized that the objective is to enable innovation as a purposeful and ongoing activity rather than just to talk about it. He urged business owners to take advantage of this connected chance to innovate and underlined that innovation is an ongoing process that requires intentionality rather than an isolated event.
Put scalability first
Rita Ngenzi, the Project Coordinator for YSA Uganda, also concurred with Niyitegeka’s views during the press conference.
She stressed that while they understand innovation as a process, they must urgently work together to ensure that these fledgling organizations overcome difficult obstacles in order to develop into scalable businesses that successfully use the digital economy.
“These entrepreneurs are at the center of this ecosystem, which heavily relies on using the digital economy. Rita Ngenzi said, her voice resonating with the weight of experience, “For me, it’s also another important factor that jumps out, because when we speak about scale, you do not talk scale and cannot have progress.
The gathering aims to create an atmosphere where small businesses can come together and potentially merge, enabling growth and scalability on a larger scale. In order to further support the digital economy, the event also hopes to encourage cooperation between the public and commercial sectors.
“And at the center of this ecosystem are these entrepreneurs, who really capitalize on the potential of the digital economy. When we talk about scale, you cannot have growth if you do not talk scale, Rita Ngenzi said, her voice resonating with the weight of experience. This is another important point that stands out in my opinion.
The occasion aims to create a setting where small businesses can unite and possibly result in mergers that would enable group expansion and scalability. The event also aims to encourage cooperation between the public and private sectors in order to strengthen the digital economy.
Julian Mulindwa, the NSSF Hi Innovator Implementing Lead, stressed that their choice to participate in the Innovation Week is motivated by their desire to support small enterprises in scaling up. NSSF Hi Innovator is a collaborative effort of NSSF and the Mastercard Foundation.
She added that it is crucial for them to provide social security for young entrepreneurs and to increase the participation of women in the corporate world.
Because we want to provide social security for everyone, we choose to take part in Innovation Week. Young people need rewarding employment possibilities, she said.
“Therefore, we started our women’s accelerator. And we got a lot of use out of it. We never had as many female participants when we first started it as we did the year before that and the years before that. We had an interesting 21% female participation rate. But just now, it is 74%.
The stage is set for a transformative event that promises to mold the future of entrepreneurship in Uganda’s dynamic digital landscape as the 5th iteration of Uganda Innovation Week draws near.
This ground-breaking method of cooperation and information exchange has the power to take Ugandan companies to new levels of achievement and influence.
