Prof. Waswa Balunywa, principal of Makerere University Business School, has advised government to make access to funding easy for young innovators.
He says this is one of the ways in which unemployment among young people can be curbed. He said this while speaking at the launch of the 3rd edition of Kampala Innovation Week 2021.
Prof. Waswa Balunywa also advised government to not only fix their eyes on huge or big projects. He said there is a tendency sometimes of ignoring what looks small, yet if well funded any business can grow and Bloom.
“We don’t need to finance huge car projects. We have many innovators who can create jobs for millions of Uganda but I must tell you, there are too many regulations and policies in this country, you cannot do anything in this country as a businessman. Unfortunately, there are lots of government programs to do this but to my feeling, they are not right. Government should fund these innovations at all levels,” he said.
Prof. Balunywa appreciated the fact that government has put up funds for the private sector. However, the restrictions around getting funds has made business really hard.
Very many young people are on the streets unemployed because they lack start-up capital.
Their good ideas only stop on paper and yet they are very innovative. The question is who is willing to take the risk to invest in the youths?
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