IUEA To Offer Capital To Youth Entrepreneurs

Posted by: lukwago J in Entrepreneurship June 14, 2019

In the spirit of entrepreneurship, Resident Director of International University of East Africa (IUEA) has offered to mentor young entrepreneurs and give them seed capital to boast innovation projects.

Hassan Alwi says students projects will be incubated and nurtured from establishment to that stage where they have grown into fully fledged Small Medium Enterprises.

“In a drive to support innovations and entrepreneurship among the youth,am offering seed money to youth enterprises that will have spill over in future in terms of job creation,”Hassan Alwi said.

According to Uganda Bureau of statistics,400,000 youth graduate yo join already stressed job sector hoping to find jobs.government as main employer only absorbs 90,000 Job seekers leaving vast majority of youth to private sector and others to wonder on the street.

Alwi has established a team of professionals made of lawyers, engineers,innovators and expert entrepreneurs to support these budding student entrepreneurs realize their business dreams from formation.

He however stresses that these enterprises must be legally registered and bankable with capacity to grow.
Alwi says this is line with IUEA plan to establish Small Medium Enterprise (SME) centre at the university headquarters in Kansanga.

According to him,the centre will be used to mentor, train and incubate youth innovation enterprises.
So far 10 students have benefited from IUEA seed capital where students write compete for the fund on annual basis.

The targets to benefit 100, innovators who will in turn generate 400,000 jobs by 2020. The university will offer office space and point of sale for the products.

Currently beneficiaries of entrepreneurship programme are making contribution inform of production of smart toy phones,animal solutions, technology business solutions solving African problems.

IUEA innovation centre will also have centre for welding fabrication where students will be trained on hands on skills to work in the oil and gas sector. Its projected that oil and gas sector will require about 300,000 jobs.

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