Nile Breweries Limited (NBL) on Wednesday launched a social entrepreneurship programme dubbed “100+ Accelerator,” Cohort 2023 at the NBL headquarters in Luzira, aligned towards the promotion of business start-ups committed to sustainability.
The programme, an initiative of the parent company of NBL, AB InBev will offer a funding opportunity of up to US$100,000 (Shs370M) to successful applicants whose business ideas provide innovative solutions to eight challenge areas, including climate action, inclusive growth, smart agriculture, biodiversity, the circular economy, water stewardship, health, and wellness.
While addressing the media, Mr, Adu Rando, Managing Director of NBL said that the 100+ Accelerator was first launched in 2018, the 100+ Accelerator seeks to assist social entrepreneurs with cutting-edge solutions to problems affecting the globe and supply chains. “We support the startups by providing mentoring, funding and opportunities to pilot and scale their ideas within our business and value chain anywhere around the world,” said Adu
“As a company, we have great potential to execute transformational social impact. To us, a future with more cheers is a shared prosperity for our communities the planet and our company. It is growth that is inclusive and value that is shared and wins for the world that is truly worth celebrating,” he added.
The Accelerator prioritizes those with products that are either currently on the market or are well suited for it and that have demonstrated transactional information in terms of IP, clients, revenue, pilots, or contracts, among others.
Now in its 5th Cohort, the 100+ Accelerator was created as an innovation-driven platform to exponentially fuel the growth of sustainability startups and to help the company reach its sustainability goals for 2025.
Starting last year, 35 Ugandan entrepreneurs had a chance to apply in the hope of joining the already over 80 companies implementing their solutions in 20 countries around the world. Former winners currently operating in Uganda under Sustainable Agriculture Solutions include Oko Finance, BanQu and Agri Friend.
“We enjoyed the process, from online- application, to pilot project designs, interviews and much as we didn’t receive investment, the feedback received has helped us grow our social venture! I will be applying again with our software- Wastepays- enabling African businesses and households to monetize their waste (plastics, glass, etc) using a mobile platform,” said Franc Kamugyisha, CEO and Founder of Eco Plastile, a runner-up in Cohort 4.
Through the 100+ Accelerator, ABInBev is committed to partnering with others, as well as to contributing to the UN Sustainable Development Goals. With current partners such as the Coca-Cola Company, Colgate-Palmolive, and Unilever, who face the same core sustainability challenges, ABInBev purposes to share knowledge and resources to accelerate cost-effective solutions.
Start-ups with products that are either already on the market or are well suited for the market and that can show transactional information in terms of IP, clients, revenue, pilots, or contract are encouraged to apply, according to Flora Aduk, Communication Manager NBL.
Wazi Vision Limited a local company that designs and manufacture prescription eyewear from sustainable local material such as caw horn, bamboo and cyclone plastics is one of the start-ups that are ready to participate in the fifth cohort.
“We applied for the previous cohort and it gave us a mirage, so we have come back again to participate in cohort five because one of the big steps every start-up needs is to have that financial muscle to push the ideas. Because our vision is actually to be visible locally and internationally and we hope this competition is going to help us,” said Jackson Ssettuba finance manager Wazi vision.
Meanwhile, the majority of this programme will be based on launching pilots to validate products that are market-fit, and therefore qualified start-ups are those that either have a ready product to go to market or are already positioned in the market.
Participants must also have the ability to illustrate problems, fit with defined sustainability challenges, traction or product market fit, and capacity to execute a pilot in a chosen global zone.
Additionally, applicants should be aware that there will be several rounds to the screening process and that the 100+ Accelerator programme is devoted to keeping in constant contact with entrepreneurs. Submissions for the 5th cohort are currently open and valid until June 30th, 2023.
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