YSAU, Hive Colab Announce Startups Participating at the GITEX Africa

The Youth Startup Academy Uganda (YSAU), a pioneering initiative dedicated to fostering youth-led entrepreneurship and economic development has today revealed 15 of its startups that will be participating in the highly anticipated GITEX Africa in Marrakech, Morocco under the High Patronage of His Majesty King Mohammed VI of the Kingdom of Morocco from 29-31, May.

YSAU’s presence at GITEX Africa showcases its commitment to empowering young entrepreneurs and amplifying their impact within the innovation ecosystem, demonstrating the vibrant entrepreneurial spirit and potential emerging from Uganda.

At a press briefing held at Hive Colab on Kajonkya House this morning, Mr. Robert Bob Okello, YSAU Associate Project Coordinator said, “GITEX is an exciting avenue for us to position the Ugandan ecosystem at an international stage.” He adds “It is a great place for us to showcase what Uganda has to offer in terms of startups and therefore, we are very excited to take 15 startups into this participation of GITEX to represent not only YSAU but Uganda as well.”

“These startups will demonstrate their potential on this global arena,” Okello concludes.

The startups participating at GITEX Africa 2024 are Anchor Systems T/A Anchor Machines, AUTOFORE, Beet Fresh Yoghurt, Camelot Agroecology Farm, Canine Safaris, GOCOLORS Paint Uganda, Goldie Coatings, iKnowFarm, Kikazi Agri Products, Lara Fragrance House, Ntakye Holdings, Organic Route, Rwetech Farmers Co-operative Society, Suzie Water Harvesting, and Truism.

Hive Colab, one of Uganda’s leading innovation hubs, played an instrumental in the selection process. At the event, the hub will present the startups each positioned to make a significant impact in various sectors including fintech, healthtech, agritech, and edtech, among others.

The startup founders and their teams will have the opportunity to pitch their ventures to potential investors, a network of industry leaders, the media, and the global audience to gain exposure. This event is a critical stepping stone for them to secure funding/investments, and strategic partnerships that can thrust their businesses to new heights —and also connect with fellow entrepreneurs and startup founders

Speaking on the investment, Ms. Barbara Birungi Mutabazi, Co-founder and Managing Director of Hive Colab, said the hub under YSAU has invested USD$200,000 (approx. UGX765 million) in 13 of the 15 startups. The startups will receive an amount based on the level in the program they are at. The investment will be divided into USD$5,000 (approx. UGX19.1 million), USD$10,000 (approx. UGX38.2 million), and USD$20,000 (approx. UGX76.4 million).

“For now we are investing in 13 startups, in different tiers based on what they have shown us,” said Birungi. “The amount of money that we are giving being different is not on the ability for the startup to succeed, it is just at the stage they are right now.”

Birungi added, “At Hive Colab and YSAU, we are investing in promising startups with the potential to expand beyond Uganda and become global companies. Our goal is to build unicorns.”

She emphasized that startups need investment and therefore Hive Colabs and YSAU are taking the first initiative, the first step to invest in these startups —giving a reason for other investors to follow suit. “When other investors see that we the locals are trusting and believing in our startups and investing in them, it makes it easier for them to invest as well.”

“Investors also want to invest where they see others have come in,” she concludes.

Okello confirmed the 15 startup founders will set off for GITEX Africa in Marrakech, Morocco on Sunday, May 26th, 2024.

Notably, Hon. Monica Musenero Masanza, the Minister of Science, Technology, and Innovation, will also be attending the GITEX Africa —joining an array of distinguished Ministers and delegates for a panel discussion on “Bridging the Gap: Building a Unified Digital Africa”. They will engage in high-level discussions, and explore innovative solutions to overcome common challenges and achieve a unified digital front. Hon. Musenero is expected to contribute valuable insights and strategies to the dialogue —on how African nations can collectively harness digital technologies to drive economic growth and social development.

Her presence at the event underscores Uganda’s commitment to advancing its digital landscape. It reflects the country’s strategic priorities in leveraging Science, Technology, and Innovation (STI) to propel development.

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GITEX Africa is one of Africa’s largest and most influential tech and startup events and is on high momentum to welcome the year’s biggest tech conversations and collaborative ventures.

Under the High Patronage of His Majesty King Mohammed VI, the 2nd edition will take place from 29-31 May 2024, under the authority of the Moroccan Ministry of Digital Transition and Administration Reform and hosted by the Digital Development Agency (ADD).

The edition follows its pioneering debut in 2023, rated by the attending tech community as the world’s best tech launch event. The intense global interest in exploring diverse tech themes is now powering GITEX Africa’s growth, fuelling momentum in a maturing digital ecosystem while turbocharging a big tech rush into one of the world’s most exciting and dynamic markets.

GITEX Africa 2024 is expected to welcome thousands of attendees across Africa and the rest of the world for large-scale discourse and future-focused collaborations, while accelerating tech’s massive advances across diverse industries, from cloud and IOT, cybersecurity, digital health, and future finance, to consumer tech, telecoms, and the great hype of artificial intelligence.

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