Alternative Resources of Finance for Uganda: Accion Enterprise Lab

Jack Prot

Disclaimer

I am not an agent or related to this entity. The details delivered under is impartial as dependent on my investigate and knowledge. Whilst I have taken actions to guarantee the accuracy of the facts introduced listed here, there can be no assurance that it will keep on being precise.

Primary details

Fund’s target client: “Late get started-ups”.

Sector aim: Monetary companies specially those utilizing emerging technological know-how for instance cell revenue and “branchless” banking, social media and cloud computing.

Amounts provided: $100,000 – $300,000

Funding type: Venture funds (Implies, fairly than providing a mortgage, the fund requires a % of shares in the focus on business, may also do convertible financial debt that is a loan that can be turned into shares.)

Important standards:

  • Revolutionary products from businesses that are developing sport switching systems and disruptive business versions that will offer economic companies to men and women at the foundation of the pyramid(BOP) and
  • Will need not have important earnings but must be submit exploration and growth, total time team in put and ideally a pilot/prototype in the industry.

Even more data:
Search on the web for the fund details or get in touch with the East Africa get in touch with: nkhaki@accion.org

Who is driving the fund?

Accion is a non-public nonprofit corporation that is a pioneer in micro-finance. It was started in 1961.

What is the application system like?

The fund was lately launched in April 2012 and so there is no obvious details available but the expectation of the procedure is:

1. Send out an original email to Nicky Khaki the East Africa call.

2. submission of an government summary to highlight the option and the financing will need.

3. Submission of specific program, because of diligence and a website stop by to make sure the staff is in put.

What are my view/tips for achievement in accessing the capital?

1. Impress:The undertaking lab is an “experimental project” and so is searching for the “Following major detail”. I think that the organization prepare/govt summary you post ought to clearly show how you are embracing new/emerging know-how to fix Uganda’s troubles. It need to not be conservative but should balance the futuristic look at with the realistic aspects.

2. Sector exploration. As the group is keen for know-how that has been examined and a product starting to function in the industry, you want to demonstrate evidence of tests in the Ugandan market place.

3. Scalability.Considering the operate Accion does all over the world in the discipline of micro-finance, a excellent product will need to have to present that it can be replicated, cheaply, if possible in other emerging economies and for the reward of the “poorest of the inadequate” the target of a great deal of micro-finance.

Even though I supply the over strategies, you really should be aware that some standard essential facts applies to all apps. This contains facets like the strategy which includes an executive summary, containing no faults, becoming in an quick to examine structure and the like.

In any other case, greatest of luck.

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