The Hive Accelerator Continues: Transforming Uganda’s Entrepreneurial Landscape

The Hive Accelerator Continues: Transforming Uganda’s Entrepreneurial Landscape

The Hive Accelerator program, supported by the Argidius Foundation, is transforming Uganda's entrepreneurial landscape. This dynamic accelerator program initiative is designed to foster high-growth, investment-ready businesses through business acceleration to close the investment funding gap for locally led enterprises.

The program will run for a period of 3 years from 2023 to 2026, supporting 80 enterprises through 4 cohorts, each comprising 20 businesses. This initiative will equip them with essential resources for growth, scalability, and attracting further investment.

For Uganda's entrepreneurs, the Hive Accelerator Program continues to present several significant opportunities. Firstly, it is providing a platform for entrepreneurs to transform nascent enterprises into scalable, successful businesses. The program's sector-agnostic stance ensures that all innovative ideas receive due attention. Secondly, the Cohort 2 program has addressed gender empowerment by having the participation of 45% female-owned enterprises out of the 20 participants. Lastly, these enterprises are benefiting from 3 weeks intensive workshops spread over three months comprising;

-VIRAL(venture investment readiness and awareness levels) self-assessment, peer due diligence, Strengths and risks, pitching, financial narratives and peer review and milestone planning
-Personalized and group mentoring to provide expert guidance to strengthen business fundamentals and areas of risks that will be ongoing for 6 months after program completion.
-Peer learning, business linkages and access to other founders to strengthen innovations and build best practices.

Additionally, there will be competitive funding opportunities, with the top 4 enterprises receiving peer-awarded investment funding of USD 15,000 each.
The Hive Accelerator Cohort 2 is featuring 20 promising enterprises ready to take on this transformative journey. Among the the participating enterprises are; Nolick Investments Ltd, Nutripal, Emrich Agro Ecological Farms, Green Door Supplies, Smile Nutraceuticals, Canine Safaris, Truism, Agroking Uganda, School Monitor Technologies, Essymart Africa, Agri Ventures, Muchrrwardit Investment, Olivaz Coffee and Gocolours Paint Uganda

These entrepreneurs represent a diverse array of sectors including; Agribusiness, Agritech, Agri-Manufacturing, Cultural & Creative industry, Edtech and Apparel each bringing innovative solutions whilst making a significant impact on their respective industries and contributing to Uganda's economic development.

The program's emphasis on high-growth, investment-ready enterprises ensures that participants are well-prepared to attract further investment and scale their businesses, driving job creation, revenue growth and attracting investment into their businesses thus stimulating significant economic growth.

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