Govt, JICA partner to empower start-ups

Uganda’s Ministry of Trade, Industry and Cooperatives (MTIC) in partnership with the Japan International Cooperation Agency (JICA) have launched the JICA Next Innovation with Japan (NINJA) Accelerator Programme

Inoue Yoichi, the chief representative of JICA Uganda told Monitor that this journey is a follow-up of the launch of the Entrepreneur Support and Start-up Ecosystem Strengthening Advisory Project done during the last innovation week by MTIC and JICA.

This was geared towards improving the regulatory environment of start-ups and supporting their growth space in Uganda.

The programme targets start-ups that have been in operation for two to three years but have have exhibited traction high growth, even if they are not achieving the $5,000 revenue mark-up.

Registration which started on September 1 ends September 30 before a selection process.

This will be followed by in-person interviews. The cohort will start on October 28 until February 28, taking into account the December holidays.

Ajay Ramasubramaniam, the CEO of Hindsight Ventures, one of the accelerator implementers said the programme will take in 10 start-ups.

“Applicants must have reputable calibre, with a formidable background in their industry and a teachable mind-set. On the other hand, the business must be scalable, and have the ability to create impact with a sizeable market potential. Our role is to help them achieve their dreams and there is no sector restriction,” he says.

The accelerator will have three months of customised training (both virtual and in-person) and Mr Ramasubramaniam says that apart from being taught, the start-ups meet potential customers, partners and investors. In preparation for this, there will also be a demo in Nairobi in November this year where the start-ups will meet potential investors.

The start-ups will have also access to tech credits worth $600,000 from partners such as Microsoft to ease scaling. These will cater to their operational needs such as cloud computing, accounting, and website hosting. “This will reduce costs often met by start-ups as they grow,” he says.

After the training, three selected start-ups will go for the Japan roadshow where they will meet the programme stakeholders in Japan.

Ultimately, the accelerator looks to create investor-ready start-ups that can lobby for finances on an international level. Dr Joshua Mutambi, the Commissioner and head of the processing and marketing department at MTIC pledged continued support of the programme by the government.