The closing of phase one of the Youth Startup Academy’s (YSA) accelerator program in Uganda marks a milestone in a journey that began two years ago (March 2022), demonstrating the transformative impact of collaboration, knowledge exchange, and strategic partnerships on Uganda’s entrepreneurship landscape.
The program originally conceived in South Korea was brought to Uganda first before any other African nation by the International Trade Center (ITC) in partnership with the Korea SMEs and Startups Agency (KOSME) —and with the local help of Hive Colab and the National Information Technology Authority-Uganda (NITA-U) with the aim of training 1,000 young entrepreneurs by December 2024.
“It is not likely there were over 54 countries and Uganda was selected as the first African country to pilot this initiative,” Barbara Birungi Mutabazi, Co-founder of Hive Colab said during day one of the closing ceremony at Mestil Hotel in Kampala.
As the pilot comes to a close, it is clear that Uganda’s selection was not just symbolic. With over 54 countries vying for the opportunity, Uganda’s achievements reflect the strength of its entrepreneurial spirit and the effectiveness of the YSAU model, especially as it has been tailored to local needs.
Through partnerships with NITA Uganda and Hive Colab, the program was adapted to support entrepreneurs uniquely, helping them gain essential skills and market exposure that extend beyond the national market.
The program is today celebrating a significant milestone with the graduation of 43 young entrepreneurs in its cohort 4, which tallies it to a total to 1,032 (initial goal was 1,000) young entrepreneurs who through their participation have created over 3,700 jobs across Uganda.
Phase one of the accelerator program ends in December and on top of the 1,032 entrepreneurs incubated across Uganda with 30% women, the program saw 200 new businesses created, 700 of the 3,700 jobs created —were direct jobs, 60 startups participated in international trade fairs, 100 startups participated in local trade fairs, and 4 partnerships were signed between Ugandan and Korean entrepreneurs for collaboration purposes.
Here are some takeaways from the day 1 of the closing ceremony of the phase one of the accelerator program;
NITA Uganda Address
National Information Technology Association (NITA) Uganda celebrated the achievements of YSAU, a program that underscores the power of collaboration, resilience, and shared commitment to a vision of a prosperous future by empowering our youth. “At the heart of our celebration lies an empowering message: Uganda’s future rests in the hands of its youth,” said Collin Mugasha, Director of e-government services at NITA Uganda —who emphasized that through initiatives like YSAU, the government is paving the way for young innovators to shape the country’s future by addressing its most pressing challenges.
Mugasha congratulated the graduates for the 4th cohort and applauded the Youth Startup Academy (YSA) for supporting 1,032 young Ugandan entrepreneurs.
“YSA has brought together over 1,032 young entrepreneurs from across Uganda, each equipped with the skills and mindset to launch impactful ventures,” said Mugasha. “This year alone, these entrepreneurs have managed to receive USD$200,000 (approx. UGX735.34M) in donations created 273 jobs, and collectively, they have created over 3,700 jobs, brought in USD$4.4M (approx. UGX16.18Bn) in revenue, and secured investments totaling USD$1.5M (approx. UGX5.52Bn) —all vital contributions to Uganda’s economic landscape.”
Mugasha noted that the private sector partnerships are crucial to sustaining this progress, and the government is committed to expanding initiatives that provide relationship funding and resources, enabling young entrepreneurs to flourish.
The government’s commitment to supporting youth innovation aligns directly with the national development agenda. They are creating an enabling environment through supportive policies, youth-oriented funding, and resources like entrepreneurial hubs. “By ensuring that young entrepreneurs have access to everything they need, we’re empowering them to tackle the challenges facing Uganda and Africa at large,” said Mugasha.
EasyRide signs a USD$100,000 investment deal with Ventureport
EasyRide, a YSAU cohort startup setting out to revolutionize mobility safety by providing digital motor emergency services in Uganda signed a USD$100,000 (approx. UGX367.7 million) investment deal with Korean venture capital company, Venturepor.
TMS Ruge, Co-founder of Hive Colab applauded EasyRide for securing the investment and called on other innovators to follow in pursuit. “This is really possible,” he said. “If you do the work, if you’re building for the future of Uganda, it is possible to get partners that are willing to work with you and invest in your future and your dreams —and EasyRide’s new investment deal is an example of possibility.”
Mr. Isaac Kiwanda who signed the Memorandum of Understanding (MoU) for direct investment on behalf of EasyRide said, “Today is an exciting day for us at EasyRide —we are building something and we are glad to have Mr. Park on our team because he really understands numbers and that is why we want him on board and signing this today will change a lot for this country,” said Kiwanda. “We are shaping the mobility industry not only in Uganda but in Africa,” he added.
Expressing excitement about participating in the partnership, Mr. Park noted a strong commitment to ongoing investments and a dedication to discovering new opportunities. He encouraged entrepreneurs to recognize the inherent challenges of building a business, acknowledging that the journey requires resilience and determination. In addition, he highlighted the value of consistently striving to overcome obstacles, describing this persistence as the true “venture way.”
He offered words of encouragement for those embarking on their entrepreneurial journey: “Even in moments of difficulty, one should remember they are not alone,” said Mr. Park. By giving their best, entrepreneurs will not only find personal success but also attract others who will share in their achievements. This supportive community can serve as a powerful motivator, fostering a sense of solidarity and shared purpose among business founders and investors alike.
Keynote address from Moses Watasa
Moses Watasa, Communications Commissioner at the Ministry of ICT and National Guidance on behalf of the State Minister of ICT, Hon. Joyce Ssebugwawo in a keynote address said the government is making strides in the digital transformation agenda, a key pillar in advancing socio-economic progress. He noted that the Office of the President and the Office of the Prime Minister have placed this initiative at the forefront, recognizing its role in creating opportunities, particularly for the youth who make up over 70% of the country’s population under the age of 30. This demographic reality has spurred a concerted push towards digital and economic inclusivity, empowering young people with skills and resources to drive innovation and productivity.
Wasajja noted that supporting youth-led innovations is a cornerstone of Uganda’s digital transformation agenda.
One key aspect he discussed was the cost of the internet and skilling. He noted that the government is investing a lot in connectivity for the Internet to ensure that the entire country is connected. “We are working on reducing the cost of the internet because if the cost of the internet is high, it becomes difficult for the young people to innovate,” he said —adding “We are also working on skilling them because if people are not adequately skilled, then they can’t make so much on the opportunities from ICTs.”
The Ministry of ICT is also supporting startups through government-funded startup programs —providing young ICT graduates and students with the resources they need to turn innovative ideas into impactful solutions. “We have a lot of young people who are graduates or students of ICTs. They have a lot of ideas, but they don’t have the resources to get started to create opportunities for themselves,” explained Wasajja. “So the government has put in a bit of money to support their startups, and I’m happy to report that we have made some good progress.”
One example of success is the e-government procurement system, developed by young Ugandans, which has streamlined government operations.
Watasa further in his keynote said programs such as YSAU illustrate the tremendous potential within Uganda’s youth and the government’s commitment to fostering an innovation-driven economy. He added that ministerial partnerships, particularly with South Korea, remain crucial to sustaining this momentum. “These collaborations mitigate resource constraints and enable Uganda to pursue its digital transformation objectives more effectively,” he remarked. “Programs like the Youth Startup Academy (YSA), have provided invaluable opportunities for networking, mentorship, and support, further bolstering Uganda’s digital ecosystem.”
The power of collaboration
In the event’s first-panel session discussing “The Power of Collaboration” panelists, Barbara Mutabazi; Co-founder of Hive Colab, Joshua Akandwanaho; BPO/ITES Supervisor at NITA-Uganda, Daehee Lee; KOSME, and Rita Ngenzi; National Coordinator of Youth Startup Academy Uganda, explored the role of collaboration across the government, international agencies, and private sectors in fostering a resilient and innovative startup ecosystem in Uganda.
The panelists also shared insights into how their organizations partnered with the YSAU and highlighted the successes and challenges of such multi-stakeholder collaboration. In addition, the discussion also emphasized how Ugandan and Korean institutions can work together to promote innovation support business growth, and enhance cross-knowledge exchange ultimately strengthening the entrepreneurial ecosystem in Uganda
Presentation of certificates to 41 entrepreneurs of the YSA Cohort 4 and launch of the Alumni association
ITC and KOSME presented the 41 graduates with certificates for completing the YSA program —in addition launched the YSAU Alumni Association (from all four cohorts), marking a significant step toward connecting and empowering startups throughout their entrepreneurial journeys.
The Alumni Association consisting of 8 representatives —2 from each cohort will be representing the rest of the entrepreneurs in the program. “We selected representatives from each cohort, 2 of them,” said Barbara Mutabazi. “We envision this association being a voice for other entrepreneurs in the program across the country.” She added, “These representatives will be responsible for building a successful community with support from Hive Colab.”
The association will help with securing investments, collaborations & partnerships, and networking sessions, among others, that can benefit the community.
ITC’s role in bridging Ugandan and Korean economies
Representing the Executive Director of the International Trade Centre (ITC), Pamela Coke-Hamilton, Director of the Division of Enterprise Competitiveness and Institutions at ITC, Escipion J. Oliveira-Gomez reaffirmed ITC’s commitment to global collaboration and sustainable development. He extended greetings to the governments of Korea and Uganda, acknowledging the shared journey of both nations in advancing economic collaboration.
ITC’s ethos of “teaching people to fish” instead of merely providing fish underscores their long-term focus on capacity-building rather than dependency. This approach aligns with ITC’s dedication to youth empowerment, gender balance, environmental sustainability, and digital transformation, which are woven into the program’s framework.
“The inclusion of youth reflects ITC’s forward-thinking agenda, where growth is measured not only in economic terms but also in social progress,” said Escipion J. Oliveira-Gomez.
Escipion J. Oliveira-Gomez remarked that through programs like YSA, ITC is not just fostering economic partnerships but actively promoting technology transfer, knowledge exchange, and sustainable development in Uganda. “By sharing Korea’s expertise in discipline, technological innovation, and business acumen, ITC has created a bridge for Uganda to learn from and build upon the Korean model,” he explained.
ITC strives to create a future where nations can grow stronger together, combining strengths across borders. With the continued support of partners like Korea, ITC aims to turn the vision of a unified, empowered Africa into reality.
