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The 2017 Uganda Startup Cup Champion Selected


The Uganda Startup Cup is pleased to announce with great pleasure that after a grueling seven months of coaching, judging, mentoring, networking and lots of fun a winner and Uganda representative has been selected. The challenge featured a diverse array of startups including the Bio Technology startup Zaantu who have devised a software application in lieu of the frequent breakdown of medical equipment which is as a result of misuse, wear and tear among others, the winning social enterprise “Ask Without shame” a mobileapp for young people to ask any sexual and reproductive health related questions from qualified medical experts, in a non-threatening environment via an android mobile application and via sms.

Decisions were made by a panel of judges consisting of representatives from a diverse range of backgrounds. The judging panel evaluated the plans on the basis of:

Reasonable opportunity for success of the business model
Company meets an identifiable need and actively tests market response
Company has a strong execution strategy
Company has identified and allocated resources to be successful
Company utilizes resources effectively
Company has a believable competitive advantage
Company has a sound target market and customer base
Revenue and profit models that fit
Strong, coachable management team
Realistic time-frame for company growth

The entrants to the Competition will be judged on the merits of their business models with three presentations made to the panel of judges. The first presentation will include the top twenty-five business models. The second presentation will include the top twelve business models and the final round of presentations will include the top seven business models.

All decisions regarding the criteria were be made solely by the organizers and sponsors.

The 12 Startup Cup finalists were originally selected out of a 35 applications received. A panel of 10 judges evaluated and graded the applications based on innovation, scalability and job creation in Lebanon. Each of the 12 semi-finalist teams were assigned a coach who followed up and provided strategic support, mentorship and advice. The process of Uganda Startup Cup was conducted over the course of 7 months divided into 2 coaching phases.

After the first pitch, the semi-finalists were required to submit a revised business models along with evidence of progress. The seven finalists chosen moved to the second and final round of training and coaching, while they work on perfecting their investor pitch. The finalists were allowed a 5 minute pitch to convince a selected judges of their startup concept upon which the winners were selected.

The Challenge Business Model Competition was designed to foster entrepreneurship and an entrepreneurial spirit, grow jobs through startups, and increase awareness of the resources available to grow entrepreneurs. All selected winners were selected on an objective basis as determined by the criteria set forth below.

Get a head start

The  Uganda StartUp   cup   is  just  around  the  corner. This  simple is  guide will  help  you win  at   start up  cup  start by   submitting  a   Business Model Submission   and  preparing  for  your  pitch.

Partners

The Uganda StartUp Cup is part of a global family of business model competitions designed to provide community-based long-term support to participating local entrepreneurs during their early growth phase and is a Featured Event of the Global Entrepreneurship Week. StartUp Cup is also an official partner of the U.S. Department of State’s Global Entrepreneurship Program.
The cup is designed with a powerful business model coaching approach that supports entrepreneurs to accelerate building and testing their business models with customers to improve the likelihood of generating revenue and building a viable business model.

Here are some of the benefits sponsors can expect to benefit from being part of our events;

• Sponsors through taking part on the Uganda startup cup will increase their company visibility; a unique opportunity for increased corporate identification, exposure and brand awareness.
• Sponsors will engage upcoming and seasoned entrepreneurs who are known to be brand loyal.
• Sponsors will reach an international platform during the global entrepreneurship week; a global event that will be held in November 2016.
• Sponsors who will have online views, as we predict a large number of spectators in Uganda and around the world.
• Sponsors will co-host events press briefs with us.
• Sponsors get an open invitation to take part in our local events.
• Sponsors get custom survey of the startup community (we can create survey and produce report)
• Sponsors get invitation for a guest blog post on the website uganda.startupcup.com
• Company name/logo listed on the website

The 98% Entrepreneurship Reality

An Entrepreneurial Renaissance

There is no question about it. It’s an exciting time to be an entrepreneur wherever you live in the world. There is more attention being given to entrepreneurialism as a viable career path and way to innovate than at any other time in history. We are at the beginning of a full-blown entrepreneurial renaissance.

Organizations and programs that support new technology companies to launch and gain access to the tools, resources, and capital that accelerate building scalable, high growth businesses are being introduced on a daily basis.

Startup programs like Startup Weekend, Lean Startup Machine, TechStars, and YCombinator are highly successful at filtering large numbers of technology companies with mentoring and funding designed to test their business models in an effort to grow big, fast.

Let’s face it, you are hard pressed to go a full day without being fed a news story about a technology company that has raised their first and second multi-million-dollar investment or the latest IPO making the founders into millionaires and billionaires. Very exciting times indeed. At least for those that are able to turn their startup into piles of cash.

Over Promoting Unrealistic Behavior

There is a little known fact behind every startup story that puts a newly funded company on a pedestal, and very few people are talking about it. What is this little know bit of information?

Only 2% of all startups are funded by angels, accelerators, or venture capitalists. Let’s state this in a different way so that it will fully sink in. Only 2% of all startups have a business model, experienced team, connections, and scalability, usually technology based, to raise money from investors.

Funding is for the elite. More and more the funding is going to ivy league college graduates and teams that have a proven track record of generating huge returns for investors.

This means that 98% of all entrepreneurs and startups are not gaining access to the tools, resources, and financing opportunities that will give their new company the opportunity to grow.

It’s Not Always a Technology World

It is time to think different about what it means to be an entrepreneur. The myth is that you have to be a rock star and grow a technology company to be the next Facebook or Google. This does not reflect the true reality of what it means to be an entrepreneur. Entrepreneurialism is a lifestyle, a mindset, a way to live a life with greater purpose and meaning. If we are to overcome the economic challenges we face as a world we need to focus more energy on supporting the 98% of entrepreneurs who are starting new companies.

The challenge is that the 98% do not meet the capitalistic nature of our economy today. That is to say, that they do not have a company that can grow big fast and generate handsome returns for investors. No wonder so many have so much anger towards Wall Street.

The World Needs Small Businesses

The entrepreneurial reality of the 98% is that they are low-tech or no-tech companies, have done little or no planning, are made up of unproven teams, have little to no experience starting a company, and are not graduates of ivy league universities. In addition these companies only require a few thousand dollars to start generating revenue and will only grow 2 – 20 jobs.

Startups do not need to be a technology company. They do not need to change the world. They just need someone with an idea and the passion to take that idea into the market place. Just think about how different the American economy would be if we were giving small business startups a similar level of access to networks, coaching, and team development as the 2%.

We are over promoting unrealistic behavior. Instead of focusing on raising lots of money let’s focus on the development of viable business models that connect with customers willing to pay for the value created by the startup. By focusing on the generation of revenue that drives profitability there is less and less need to raise money.

Small business is at the cornerstone of entrepreneurship. Some will become the next Apple and most will become the next corner drugstore owning their business for 20 years. Both deserve the same support and regard for making a difference in our lives.

StartUp Cup is born out of this frustration to see entrepreneurs armed with any type of idea gain access to the coaching, resources, and tools that the 2% have access to.

It’s time to start celebrating the real heroes of our economy, the 98% who work to make our lives better each and everyday.