The Youth Start-up Academy Uganda follows the success of the same programme in the Republic of Korea, implemented by the Korea SMEs and Startups Agency (KOSME). Since its start, the programme has supported the creation of almost 4,800 start-ups, including two unicorns with a current market value that exceeds $1 billion. The Youth-Start-up Academy project in Uganda is a joint effort between ITC, KOSME, the National Information Technology Authority (NITA-U) and Hive Colab, a local incubator in Uganda.

Uganda is a rising star in the African start-up ecosystem. The country’s young population and fast-growing IT infrastructure are the main drivers of the Ugandan ecosystem development. Especially Uganda’s Fintech industry shows 35% annual growth from 2016 to 2018. Despite the vitality of the ecosystem and the success of the fintech sector, a significant number of entrepreneurs from all sectors continue to face serious difficulties in transforming their business ideas into viable and scalable businesses. Ensuring that these entrepreneurs have access to the right support in a structure that is ready to nurture their ideas and help them grow, is the project’s goal.

Participating entrepreneurs will benefit from a three-stage incubation programme, access to a fully equipped business creation facility including co-working spaces, IT room and maker spaces, the opportunity to widen their business networks, and develop joint ventures with local, regional and international start-ups.