Applications for the Hi-Innovator Women Accelerator Program for Ugandan Entrepreneurs in 2023 are currently open.
Hi-Innovator set out to support small and growing businesses within the Ugandan ecosystem over a 5-year period. The program looks to impact 132,000 youths attached to 20 hubs/ESOs across the country, with a direct intention of touching the lives of 92,400 women employers and employees in the five regions of Uganda. To achieve this target, it is embarking on a women accelerator to give women entrepreneurs across all sectors an opportunity to improve their business skills, grow their businesses to be resilient while also making them more competitive and better placed to receive financial services.
Worth of Award
The Hi-Innovator Women Accelerator has been designed for women-owned and women-led businesses operating in all sectors in Uganda. The program will be open to women running businesses with the potential to grow that have been in operation for at least 2 years.
During the program, businesses will get
- USD 20,000 grant funding and in turn provide a 6% equity stake ownership to NSSF
- Tailored technical support
- Mentorship and peer-peer learning opportunities
- Investor networking sessions, forward & backward market linkages
- Unlimited access to the learning content in the Business Academy
The criteria for selection include
- should have been legally and actively operational in Uganda for at least two years.
- employs at least 2 full time staff with at least 50% of the staff below 35 years of age.
- should be 50% female owned and or have 70% women in top management/leadership positions.
- should have made a minimum annual revenue of Uganda Shillings 10 million in the past year and has not raised more than Uganda Shilling 1 Billion in grants, convertible grants, debt or private equity.
Other criteria include
- Being fully registered with Uganda Registry Services Bureau (URSB), Uganda Revenue Authority (URA), and National Social Security Fund (NSSF). First time registration before application is acceptable.
- Having evidence of 100% completion of the Hi-Innovator business academy course.
- Being willing to provide a 6% equity stake ownership to NSSF
Note that businesses in all sectors are eligible to participate.
How to Apply
Apply for the Hi-Innovator Women Accelerator Program online via the official website.
Deadline: Foundation Course Dealine: January 31st, 2023.