Arthur Mukembo Discusses Overcoming Barriers for Innovators at Innovation Village
World Business Journal talks to Arthur Mukembo, Lead of Future Lab at the Innovation Village, about creating essential infrastructure for innovation by aiding access to technology, research, skill-building & capital; the challenges that hinder the growth of innovation ecosystems; and outcomes enabled by the organisation.
How do Innovation Village, Motiv, and Future Lab intersect?
The ecosystems converge around shared needs but diverge in their specific requirements. The creative and cultural sectors have unique demands, unlike the technology sector.
Our focus at Innovation Village Hub, Motiv, and Future Lab revolves around 4 key areas:
First, we provide essential infrastructure for innovators, like access to community spaces and skill-building programmes, among others.
The Empower pillar is bringing together stakeholders to spark and sustain innovation.
The Build component collaborates with ecosystem players to develop impactful ventures. Initiatives like Future Lab and Motiv focus on building capacities in technology and creative industries.
Access to capital is facilitated through extensive networks to support ventures at all growth stages.
Our newest initiative, 97 Capital, which will be launched this year, is tailored to provide necessary financial support across all pillars.
To date, we have created over 360,000 jobs for young people, supported 25,000 entrepreneurs, and collaborated with more than 1,000 industry leaders, facilitating the development of new companies and innovative solutions locally and globally.
How do you connect innovators with capital?
We connect African innovators with capital through grants, equity investors, and strategic debt options. Our initiatives offer up to $50,000 in funding, along with additional software credits, to help tech entrepreneurs reduce cloud costs and achieve key milestones. Partnering with the Kampala Angel Investor Network, we foster a dynamic investment community to attract venture capital and collaborate with strategic debt partners to secure concessional capital.
What challenges hinder the growth of innovation ecosystems in Uganda?
Bridging the gap between youthful energy and mature market understanding remains crucial. Young entrepreneurs bring fresh perspectives and enthusiasm but may lack the experience necessary to navigate complex market dynamics.
Mentorship programmes, networking opportunities, and partnerships with experienced industry players can create a more balanced approach that fosters innovation that not only excites but also endures.
