InnovationNewsStartups

60 Startups to Receive NIISP Seed-Fund

After two months searching for startups to benefit from second cohort of NIISP; a body under the Ministry of ICT and National Guidance, — 60 have been selected out of the 100 finalists.

They will be announced on Wednesday 26th, June at an award ceremony to be graced by the Prime Minister to Uganda; Ruhakana Rugunda. To mention, the Minister of ICT and National Guidance, Hon. Frank Tumwebaze will attend to unveil the 60 winning startups.

NIISP in a statement said, 665 had initially submitted for the fund but only 100 were shortlisted. Priority sectors were; Education, Health, Agriculture, and Public Sector Management.

From the period of April 16th to 18th, 2019 — the finalists pitched to a Committee of experts appointed by Tumwebaze.

This is the second cohort that will benefit from the government fund. However, there has been a twist to how many startups will receive the fund.

Last year, the government only funded 12 startups, but this time around it comes to 60 startups. This was first revealed by Tumwebaze during the launch of the Refactory Program at Clarke International University.

During the Refactory Program launch, Tumwebaze, said the government is discussing a law that will push government entities to support Ugandan startups by procuring their services, investing in them or acquiring them.

NIISP aims at creating a sustainable ecosystem for ICT innovations and support ICT innovators and developers in Uganda.

Notably, in a statement released by the Ministry of ICT, mentions that those that the startups that won’t be directly supported or receive this fund will be availed working space at the various ICT innovation hubs.

Tags
Back to top button
Do NOT follow this link or you will be banned from the site!
Close

Adblock Detected

Please disable your adblocker to continue accessing this site.