NEW YEAR NEWSLETTER
Mr. Otoa Tony - Chief Executive, Stanbic Business Incubator.
On behalf of the Stanbic Business Incubator, I wish you all a Happy New Year! As we embark on the next 12 months, I am delighted to share with you some thoughts on our progress towards nurturing resilient SMEs and bolstering Uganda’s private sector. Our vision remains to be the trusted partner driving private sector development by helping to train SME owners to lead sustainable enterprises. This is the guiding principle shaping every initiative, program, and interaction within the Stanbic Business Incubator. Through tailor-made programs, primarily aimed at business growth, we are dedicated to not only building businesses, but also cultivating visionary business leaders who can ignite impactful change.
We offer vital management and other technical skills, together with continuous coaching and mentorship, which form the foundation of our efforts during the past year and going forward in 2024. This is the basis of our incubation programs, ensuring every entrepreneur in our ecosystem receives the necessary support to thrive. Reflecting on the last half of 2023, it has been a period packed with programs aligned with our core pillars. From facilitating access to finance and market opportunities to becoming the preferred partner for aspiring entrepreneurs, we’ve relentlessly championed sustainability, trained entrepreneurs in operational skills, and tracked our impact within the community. The remarkable progress and successes witnessed among our alumni stem from the dedication and the unwavering support of our teams, mentors, and partners. Together, with this spirit, we can only get better!
As we enter 2024, I extend my heartfelt gratitude to everyone contributing to our shared vision. Your dedication, collaboration, and belief in Uganda’s entrepreneurial landscape has been and will continue to be instrumental in our success. Looking ahead, I am optimistic about the opportunities that await us this year. Let’s continue working hand in hand, empowering businesses, fostering growth, and leaving a lasting impact in the coming year. Thank you for being an integral part of our journey in nurturing thriving SMEs and shaping visionary leaders.
Warm regards,
NSSF HI- INNOVATOR PROGRAM
Now in its fourth year, and generously funded by the Mastercard Foundation and the National Social Security Fund , this five-year initiative is being implemented by Outbox Uganda through several entrepreneurship support organizations (ESOs) including us.
Hi-Innovator’s primary focus is on young businesses that are not considered attractive to traditional investors and would otherwise struggle to raise the financing and technical support they need to grow. Since 2021, we have assisted 139 entrepreneurs to complete the business foundational course and of those 35 enterprises have qualified for seed funding, enabling them to raise up to $700,000 in total. We invite new applicants for the Pre-accelerator Academy Course, a mandatory step before receiving our support. Get started on your path to growth and success by visiting;
Registration Link https://hi-innovatorbusinessacademy.nssfug.
MASTERCLASS
We hold monthly virtual Master classes. These enhance the capabilities of business owners in achieving their respective objectives through the creation and exploitation of opportunities, particularly through networking and the sharing of ideas, which increases their visibility. During the third and fourth quarter featured presentations by;
Diana Kaganzi K. Product Manager, Flyhub Uganda. Leveraging technology for process optimization and business efficiency “The Success of a business process is determined by the efficiency of work completion. Well defined business processes allow for easy management of teams in businesses.”
Racheal Kamusiime Registration Officer, Uganda Registration Services Bureau URSB Company registration and compliance Masterclass “It’s imperative for businesses to migrate to and update their information on the new URSB data system to access all URSB services effectively” “Formalizing and registering businesses is mandatory and offers numerous advantages like access to funding opportunities, facilitating cross border trade, enhancing credibility and gaining a competitive advantage”
ivan tuhumwiire Manager Financial Fitness Academy, Stanbic Bank Uganda , and JAMES JUNGURU – Manager Enterprise Direct, Stanbic Bank Financing for SMEs and Businesses “The only way money can grow to financial independence is through saving and investing ”
Timothy Nzioka - Director of Program Operations for Africa, U.S. African Development Foundation (USADF) Investment-Readiness. “Dedicate time to practice and prepare for your pitch, commencing with a relatable story that addresses the problem you aim to solve. Investors, like all people, appreciate a compelling story.”
December Master class by Tony Otoa Chief Executive, Stanbic Business Incubator. How to build an effective company team.“Teams are what make a business. If you focus on building a strong company team, then you’ll be building your business for success”
领英推荐
IMPACT WEEK
Impact Week is a German non-profit implementing programs that unite people from various countries and organizations, promoting Innovation through Design Thinking. In Uganda, Impact Week happened in August 2023 at the Makerere Innovation and Incubation Centre.
Stanbic Business Incubator staff collaborated with the Impact Week team and participated in various workshops for training junior coaches covering leadership, entrepreneurship, and how to catalyze transformative change to address local challenges in their various communities
In October 2023, the United States African Development Fund (USADF), in collaboration with Stanbic Bank Uganda and SBIL as the capacity building partner, issued a call for proposals for grants aimed at registered agricultural cooperatives, producer groups, and processors in Uganda. The aim is to strengthen farm-to-market capacity and specifically by helping to improve internal processes and capabilities so that these enterprises can fully meet the investment requirements of commercial investors.
Out of the 282 applications, 20 medium enterprises were selected to present pitches and later given a chance to refine their presentations as a result of relative feedback. Eventually 12 enterprises were selected after undergoing a rigorous due diligence process and awarded grants of $20,000 each.
AMBITION AFRICA 2023
The Embassy of France in Uganda and Stanbic Business Incubator partnered to run a capacity building program, ‘‘NISAT (Network for Innovation and Sustainability in Agro Ecology & Eco Tourism) from 2021-2023 with an objective of creating a sustainable network of entrepreneurs who would foster relationships with key strategic partners & linkages to market opportunities through partnerships. These linkages are both local and international – case in point the Ambition Africa Conference in 2023. The 5th annual edition of the conference provides for linkages between businesses from Africa and France and was held on the 17-18th Oct 2023 in Paris France organized by Business France under the patronage of French President Emmanuel Macron and supported by the Ministry of the Economy, Finance and Industrial and Digital Sovereignty, as well as the Ministry of Europe and Foreign Affairs. This 2 day conference was characterized of main speaker presentations, panel discussions and B2B networking session. The main objective of the conference was to promote finance, investment and market opportunities between France and Africa. The Embassy of France in Uganda and Stanbic Business Incubator facilitated the travel of the 2 senior managers to attend this event purposely to; 1. Identify and engage with potential funders for funding partners for the SBIL programs. 2. Share learnings from the NISAT program that investors could be interested in. 3. Explore areas of partnership with stakeholders present and for the NISAT association. In attendance were other Ugandans from various industries including Tourism, Agriculture, Foods & Beverages and Hospitality. A successful networking conference saw the Incubator meet partners interested in investing in Ugandan businesses in the leather industry through GIZ, Ethiopia, Dry foods, transport and logistics into South Africa and beyond.
StartHub Africa partnered with us to conduct an immersive and hands-on training program focusing on practical innovations and entrepreneurship. Thirty Makerere engineering students were introduced to the 7-Stages of Design model. SBIL also played a pivotal role in guiding the students through comprehensive sessions on pitching and honing public speaking skills.
Greater engagement was achieved, by giving the youth an opportunity to actualize their ideas, culminating in the launch of several projects. Certificates were handed out at completion of the training
SBIL ALUMNI INNOVATION SPOTLIGHT
A beneficiary of SBIL’s capacity-building training, KaCyber Technologies , has introduced Uganda’s first contactless transport card. The KaCyber Go Card was developed in partnership with Kiira Motors Corporation for its EVS buses and endorsed by the Uganda government. It introduces a seamless Tap and-Go method for fare payments throughout the city. Prime Minister, Robinah Nabbanja launched the card during the National Science Week.
We were recognized as the National Content Partner of 2023 by Petroleum Authority of Uganda
LOOKING FORWARD, the Stanbic Business Incubator remains committed to nurturing resilient small businesses and visionary leaders to help sustain Uganda’s economic growth.
Thrilled to see you reflecting and preparing for what's next! As Socrates once said - The secret of change is to focus all of your energy, not on fighting the old, but on building the new. ?? Keep inspiring and moving forward into 2024!
Co founder & Director at NextPath Technologies
1 年Thanks for sharing