Youth tipped on entrepreneurship

Jun Shiomitsu speaking to students before they started their presentations

Having well documented business blueprints is one way budding youth entrepreneurs in Africa can guarantee funding for their businesses. 

That has long been an argument fronted by international business experts, but in practice few startup entrepreneurs in Africa rely on detailed business blueprints.

Out to change that status quo in Uganda is the Africa Bible University with its Project Ensigo Initiative and its business pitch competitions.

The university provides practical mentoring for business students to startup their own businesses.

With the initiative, the university in partnership with Oxford University's SAID business school intends to help students refine their business plans.

One of the ways students are taught to refine their business plans is through the business pitch competitions and last week, the university held its maiden business pitch competitions at the International School of Uganda in Lubowa in Wakiso district.

Over 20 final year postgraduate business students at the university took part in the pitch competitions.

The competitions tested their ability to showcase their entrepreneurial passion and to communicate their entrepreneurial ideas in front of an adjudicating panel of six business experts from Oxford University and one from Uganda.

Crystal Waters group emerged winners

The students who had been placed in groups of five to six people faced off for a cash prize of sh 700,000.

Speaking at the event, the head of the University's postgraduate business programme, Jun Shiomitsu noted that business pitches are effective models for fostering the entrepreneurial drive of individuals.

"A business pitch is one way of encouraging entrepreneurial mindsets.

It is a decade's long formula that gives students leverage to write and present their business ideas before a panel of investors, willing to finance the best business ventures at the end of a presentation," Shiomitsu said.

At the end of the competition, Crystal waters-one of the contesting groups- emerged winners.