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The summit hosted under the theme ‘Building a culture of innovation fueling business and economic recovery’ emphasized the need for collaboration among corporate entities and innovators. To adopt innovations that go beyond the invention of new ideas. Adopting the use of strategic guiding principle in every aspect of an organization.
Speaking during the forum at the Kampala Serena Hotel, The Innovation Village Team Lead CK Japheth said, “The Innovation Village’s core mandate is to enable and unlock potential among start-ups and entrepreneurs.
All our initiatives at The Village such as the Corporate Innovation Summit are tailored to meet this purpose. We’re aiming at creating an entire ecosystem for entrepreneurs and innovators to provide solutions for our biggest challenges.”
Organisations have had to adapt and explore New Ways of Working (NWoW) due to changes brought about by the COVID-19 pandemic with a number of companies either pivoting their business models or collaborating with incumbents to meet the needs of the market.
“As a country, Uganda is not tapping into its most prized asset as one of the most entrepreneurial countries in the world. The Innovation industry in Africa currently attracts about $2.02 billion every year. Of this, 37% of that funding goes to Nigeria. Kenya takes 35%. 30% goes to South Africa and less than 1% to Uganda. The journey to support our youth initiatives and turn them into tangible businesses begins now,” added Japheth.
Where the problem is!
Samantha Niyonsaba, the FutureLab Lead at The Innovation Village noted that the adoption of innovation within organizations is taking shape but at a slow rate.
“Less than 10% of organisations in Uganda have embraced innovation. Even those that have are still at the experimentation stage.”
Top management has a role to play in adjusting this narrative. They have to adopt and embed an innovation culture with in their operations. Business leaders need to demonstrate that innovation skill-set is essential for professional development. They have to show creativity and ability to guide teams and businesses by accelerating change.” She said
Joanita Menya Mukasa the Managing Director Unilever Uganda and guest speaker at the event emphasized that tailoring innovation in an organization should start and stop with the consumer.
“Organization leaders have a role to play in fostering an innovation culture within their organisations. Leaders must therefore take it upon themselves to commit before their teams. To encourage the ability to innovate but also create an environment that supports the same.
For the culture to grow however, leaders must recognize that staff within the organization will make mistakes along the way. This is part of the learning process.” said Mukasa.
The meeting brought together global innovation experts, top executives across the country’s most successful corporations and fast growing startups. It will be held annually to inform and rally the corporate sector in collaborating with innovators and star-ups.
Check also;
- Uganda To Host Global Water Summit In 2020
- President Museveni Attended The 32nd African Union Summit In Addis Ababa
- 6th Annual Property Investment Summit To Drive Deal Making In Kenya’s Real Estate Sector
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![[dropcap]A[/dropcap] section of women in Bugongo parish and Nawangaiza parish in Nawandala Sub County, Iganga District have decried the near-impossible terms set for them to access GROW funds. They have now petitioned their woman member of parliament for Iganga Hon. Kauma Sauda Alibaawo to ask the government for revised terms and conditions. This is to enable them to benefit from the program. The disgruntled women accuse the implementers of the program of charging the money. They are also asking for their land titles and land agreements. They said that such properties are governed by their husbands. These, therefore want the government through their woman MP to intervene and revise the requirements for one to benefit. The women were on Wednesday at Namabwere primary school in Nawandala Sub County. They had gathered in their respective groups to receive over 300 chickens from Hon Alibaawo in her campaign to improve the livelihood of women in Iganga district. Each group was given 50 chicken as start-up capital in their journey to prosperity. Read what some leaders said; Ms Naigambi Lydia from Nawandala Trading Centre says, “They solicited money from us through opening bank accounts and depositing Shs80,000. They also asked for land titles and land agreements from us yet we don’t have such things. I was informed that I needed to have a business with a capital of Shs4m yet my capital was very small.” The chairperson Kisoboka Saving Group in Nawandala Ms. Nakagolo Faith said they were not able to join the program. This is given the many conditions attached. She also asked their woman MP to raise their concerns to the relevant offices. The MP condemned the mode of implementation of the program. She cited that it has turned to benefit the well-off class of women other than the intended group. She further asked the government to intervene saying the current strings attached to the programme are very tight to accommodate a common woman. GROW project is a Government of Uganda initiative that arose out of the need to respond to the needs of women entrepreneurs. This is especially those who want to grow their businesses, sustain their self-employment and create more jobs. Check Also; Iganga District NRM Leaders Urge Museveni To Fulfill Election Promises Of 2021 International Women's Day: Celebrating Progress Towards Equality](https://i0.wp.com/newslexpoint.com/wp-content/uploads/2024/11/Iganga-women-decry-tough-terms-to-access-GROW-funds-e1731738339732.jpg?resize=300%2C160&ssl=1)
