How Innovative ideas of the youth can be transformed into viable business ventures

MUBS is the Makerere University Business School – a leading institution in management, training and research within the East African region. The institution provides training at Certificate, Diploma, Undergraduate, Masters and PhD level offering degrees from Makerere University. 

What support has the MUBS Entreprenuial Centre   provided to businesses to grow and be competitive? 

The Entrepreneurship Innovation and Incubation Centre was established in 1998 to support the development of entrepreneurs in the country after recognizing their role in driving business growth. At the establishment, it was known as the Small Business Development Centre that supported businesses through training and business clinics. It grew over time and in 2005 it became the Entrepreneurship Centre supporting not just small business development but the growth of entrepreneurship. About four years ago, the African Development Bank supported the establishment of incubation centres at public universities in Uganda and MUBS Entrepreneurship Centre was transformed into the Entrepreneurship, Innovation and Incubation Center. Its five focus areas include business incubation, training, provision and dissemination of information, research and consultancy.

The centre believes that individuals have unique ideas and need support to turn them into businesses. These individuals are guided through training, participate in enterprise challenges and then assigned mentors and coaches to develop the business ideas.  I am very happy to mention that we have partnered with Stanbic Bank Business Incubator to provide training to different entrepreneurs and I thank them for a great job. We also conduct research studies that generate important information for the programs that we are running. Recently we conducted a study on the resilience of Ugandan entrepreneurs in the face of Covid-19 and [entrepreneurs] shared interesting stories and experiences on how they managed the situation. 

What you discovered about the resilience of entrepreneurs from the research? 

We defined resilience as the ability for the entrepreneur to adapt to or embrace change. 

Businesses that seemed to have thrived during the time are those that sought new opportunities coming with the challenge and changes of Covid-19. For example, there was a business in the education sector that embraced technology and took their whole school curriculum and services online. The school was able to teach their students, attract students from other schools and also identify new needs of these students.  

 How did the center has supported young entrepreneurs during the pandemic? 

The pandemic hit us hard in the beginning but still managed to offer support to the young entrepreneurs by providing information and a platform to share their experiences. 

First, we run a survey to establish the entrepreneurs’ needs during the lock-down. After establishing these needs we linked them to their mentors to continue giving them support.  Secondly, we shifted the monthly innovation hour from a physical meeting to an online meeting. During this hour the young people were able talk about innovations but also learn from experienced entrepreneurs who shared their journeys. Although online participation was sometimes affected as some young people did not have internet access all time we also got a testimony of a young man in agro-processing who got knowledge and tips on how to sell online and was able to get market for his products which he did not have before.

 What can be done to increase the level of participation of young people in entrepreneurship? 

To increase the level of participation of young people in entrepreneurship a lot still needs to be done. 

 But first, is helping young people understand that entrepreneurship allows them to create their jobs and not face the challenges of the labour market. Second, the need for coordination and commitment of the players supporting the entrepreneurship ecosystem. A well-coordinated ecosystem will deliver a holistic package including training, finance, mentorship, coaching among others.  Another aspect is bringing on board role model entrepreneurs both young and old who have walked the journey to share and inspire the youth. It is also important to create challenges, exhibitions and competitions that get young people to think and become innovative so that their potential and wonderful ideas get to be known. Finally, handholding of these entrepreneurs and helping them access financial support at a certain stage to grow their businesses.

 What is the admission criteria to the centre and what does it take to be part of the incubation programs? 

Admission to the become part of the entrepreneurship centre and incubation program is a very easy process. 

Send us an email on [email protected] and our program officers will help you.  You can also call us on; +256414338125/6 or like us on Facebook –MUBS Entrepreneurship Centre and get to know our activities.  To join the incubation program individuals with innovative and impact ideas are selected and supported.