The Netherlands Trust Fund IV (NTF IV) Uganda is calling of Information Technology (IT) Companies, IT Enabled Services (ITES) Companies, and technology startups to apply for their trust fund program.
Since its launch in Uganda, the NTF IV aims at improving the export development of IT and IT Enabled Services in Uganda.
The fund is run in partnership with NITA-Uganda, ICTAU, and Alliance for Trande in Information Technology and Services (ATIS). Fully funded by the Ministry of Foreign Affairs in Netherlands, it is implemented by the International Trade Centre (ITC).
The call of application officially starts effective today closing May 31st, 2019. Submitted technology startups will be segmented based on their level of maturity.
Since the NTF IV launch, 63 technology startups have received training in topics including; value proposition, business model canvases, startup valuation, due diligence, among others. Through NTF IV activities, two FinTech startups have been able to secure investments.
For a technology startup to be eligible for the fund, it has to be 3 years old — using technology as a core enabling factor. In addition, be profitable and must have built a minimum viable product, which has ideally generated some sales even if only a limited amount.
“We are looking for tech startups that use technology as a core including e-commerce, companies that have been launched in the last three years,” John Ndabarasa Startup Relations and Engagement Associate at NTF IV, said in a press statement.
He noted that there is need for Ugandan technology startups to be made aware of foreign clients expectations, trained vigorously in all areas that can equip them as well as adapt quickly to business realities. He strongly emphasized females in Uganda within the IT realm to come forward with their startups.
After submission, shortlisted startups, ITES and IT companies will be invited to participate in training sessions and one-on-one meetings with NTF IV experts in June.
At the end of the workshop, a final selection will be made based on the training results and additional information collected amongst the applicants.
