Uganda startups to compete a head of Startup World Cup

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A Ugandan startup will have the chance to compete with global startups at the Startup World Cup, a prestigious conference and competition that showcases top startups from around the world.

The winner will represent Uganda at the global finals in San Francisco on October 17, competing for a grand prize of $1 million (approximately 3.5 billion Ugandan shillings).

This annual competition is organised by the US-based enterprise, Pegasus Tech Ventures. The Ugandan regional competition, expected to draw over 100 technology and business startups, is organised by Benue Capital, a Ugandan company that has signed a memorandum of understanding with the US organisers.

Jonathan Ntege Lubwama, the principal of Benue Capital, emphasised that this competition, which has been previously held in countries such as Kenya, Tanzania, Sierra Leone, Nigeria, South Africa, and Rwanda, will provide Ugandan startups with significant exposure on the global stage.

“This is an opportunity for them to compete with the best startups not just in Africa, but from all around the world, including Asia, Europe, and North and South America,” Lubwama stated.

The global competition, initiated in 2017, is open to startups worldwide. The Ugandan competition has been accepting applications since July 5 and has received 50 submissions to date, with entries open until August 20. After that, the top ten startups will be selected to compete in the Uganda regional finale on August 30.

“We want to position a Ugandan startup so they can compete effectively. We have partnered with Turkish Airlines, which will fly the Ugandan winner to San Francisco,” Lubwama stated.

He was accompanied by Benue Capital Senior Associate Aliakai Onabikoa during the press briefing announcement on Tuesday.

Saidi Bagoth Muhammad, a representative from Turkish Airlines, expressed their pride in supporting the Startup World Cup, a platform that celebrates innovation, resilience, and the spirit of entrepreneurship, which aligns with their core values.

Onabikoa also noted that local investors, who invest their own capital into businesses, as well as representatives from academia, incubators, and accelerators, will participate as speakers and judges during the Ugandan finals.