Over 1,000 entrepreneurs graduate from Youth Startup Academy Uganda: 3,700 jobs created, over $4 million generated in sales
(Kampala) The Youth Startup Academy (YSA) in Uganda today during its closing ceremony, celebrated the 1,032 young entrepreneurs who graduated and through their participation created around 3,700 new jobs across Uganda.
Since 2022, the YSA Uganda project set out to increase youth employment through skilling entrepreneurs across the country and linking them to market opportunities. After three years, the project can show for investments secured by the young entrepreneurs of over $1.5 million and $4.4 million generated in sales.
To expand their global reach, 57 start-ups participated in international trade fairs such as GITEX Africa, GITEX Global, and COMEUP Seoul, while over 80 start-ups highlighted their products and services at local trade fairs. In addition, the project facilitated four Memoranda of Understanding between Korean and Ugandan companies, strengthening international partnerships, and creating over 700 new job opportunities directly and over 3,000 indirectly.
Another significant milestone is a new investment deal of $100,000 between a Korean venture capital company, Ventureport, and EasyRide, an YSA Uganda graduate. EasyRide is a start-up setting out to revolutionize mobility safety by providing digital motor emergency services in Uganda.
At the closing event today, Honorable Joyce Ssebugwawo, Minister of State for Information Communication Technology and National Guidance (ICT) gave the keynote remarks, emphasizing the importance of innovation and technology in national development and in supporting start-ups.
The Director of Enterprise Competitiveness and Institutions of the International Trade Centre (ITC), Escipion Oliveira Gomez, explained how start-ups contribute to economic growth and job creation, and how ITC contributes to driving sustainable development and social progress in the global economy.
H.E. Sung-soo PARK, the Ambassador of Korea to Uganda, highlighted the significance of this year between two countries as "opening new doors for collaboration and creating more opportunities for both Korea and Uganda". He also congratulated the event by mentioning "I have great expectations for the YSA graduates to play a leading role in this journey."
"YSA entrepreneurs will serve as a solid foundation for Uganda’s journey toward becoming an economic powerhouse and we hope the relationship between our two countries will grow stronger through this project, leading to increased exchange and deeper cooperation" said Mr. Won-Young Choi, Director General of the Ministry of SMEs and Startups in Korea (MSS).
ITC and KOSME presented the graduates with certificates for their completion of the programme and launched the YSA Uganda Alumni Association, marking a significant step toward connecting and empowering start-ups throughout their entrepreneurial journeys.
The Youth Startup Academy (YSA) Uganda project was implemented by the International Trade Centre (ITC), and the Korea SMEs and Startups Agency (KOSME), with the local help of Hive Colab and the National Information Technology Authority-Uganda (NITA-U).
Notes for the Editor
About the International Trade Centre - The International Trade Centre is the joint agency of the World Trade Organization and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets, thereby contributing to sustainable economic development within the frameworks of the Aid-for-Trade agenda and the United Nations’ Sustainable Development Goals.
For more information, visit www.intracen.org.
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About KOSME - KOSME is a non-profit, government-funded organization established to implement government policies and programs for the sound growth and development of Korean SMEs. As an affiliated institution of Ministry of SMEs and Startups of Korea, the KOSME has dedicated its energy to support the stable management and growth of SMEs and startups since its establishment in 1979. For more information, visit http://www.kosmes.or.kr/sbc/SH/EHP/SHEHP001M0.do
About NITA-U - NITA-U is an autonomous statutory body established under the NITA-U Act 2009, to coordinate and regulate Information Technology services in Uganda. NITA-U is under the general supervision of the Ministry of ICT and National Guidance. NITA-U has a mandate to coordinate, promote and monitor Information Technology (IT) developments in Uganda within the context of National Social and Economic development. For more information, visit http://www.nita.go.ug
Media contact
Susanna Pak
Senior Strategic Communications Officer
International Trade Centre
E: pak [at] intracen.org
T: +41 22 730 0651
