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VideoSeptember 1, 2015

'Shark Tank'-Style Competition Boosts Youth Entrepreneurship in Uganda

The Connect to Implement project is a grant recipient of the Youth Innovation Fund, which provides youth at the World Bank with an opportunity to design and implement projects focusing on innovation, efficiency and impact on youth development. The objective of the project is to contribute to the reduction of youth unemployment through technology, innovation, and entrepreneurship in Uganda by training youth to be Job creators not job seekers. Through the project youth between the ages 18 – 30 were trained on how to create a business plan, start and grow a business. Because females are twice as likely to be unemployed, this project recruited 70%-80% of the participants from the female population. Participants received training and insights from successful Ugandan entrepreneurs on how to do business in the country and what it takes to succeed. In particular, they learned how to write a good business plan, present it to investors for funding, start and run a business. The best ideas were be funded through a business presentation competition. Beneficiaries were required to mentor other potential entrepreneurs before receiving funding and hence create a multiplier effect and in addition received a design thinking workshop from Stanford university business school.