By Our Reporter
Ahead of the Young Entrepreneurship Summit 2018 slated for early April, we had a chat with Edwin Musiime, the President of Chamber of Young Entrepreneurs (CYE) who are the organsiers of the two-day event. He shares the genesis of the summit, expectations and more.
Read the interview excerpts below:
1. Hello Edwin, you recently launched the Chamber of Young Entrepreneurs (CYE), what motivated this? What are the objectives of CYE? What is the long term vision?
First I would say it’s love for my country and, secondly, the potential I believe the young people have. But even more importantly, I’m uncomfortable with the high unemployment rates and short life span of many our start ups.
Our vision is to inspire a new spirit of entrepreneurship — empower 10,000 entrepreneurs by 2020 and create 500,000 jobs.
2. The Young Entrepreneurs Summit is happening in April, what should we expect?
Like our theme: “Inspiring a Sustainable Entrepreneurship Culture”, the summit is meant to challenge Uganda’s millennials in a new revolution of advancing our economic levels to new heights.
3. In your experience, what are the biggest challenges to youth entrepreneurship in the country?
The first challenge many front is the lack of capital and almost all new ventures require seed capital — money that is available to see them through those first rocky months or even years before they turn a profit.
However, I will add that intellectual capital is even in shorter supply. Many start ups collapse as they lack capacity or competitive skills to run them is insufficient.
4. Will the Summit and CYE address these challenges? What next after the summit?
Yes, the Summit in many ways will address theme especially the intellectual capital area. The financial capital area is one we are engaging numerous stake holders including government agencies, Angel investors, Global Pan African investors that can provide cheaper capital.
After the Summit we unveil our monthly town hall business engagements. Then we launch the District Business councils which will have district business models with collaborating training and market opportunities.
5. Who gets to attend the summit? How does one attend? Are there any special requirements?
We expect to host established business owners, individuals intending to start business and apprentices. One can acquire at ticket for the 2 days at the Kampala Serena for 25,0000/=, but for BigEyeUG readers, the first 30 people to like the Chamber of Young Entrepreneurs Facebook page and inbox their name and Contact will win a free ticket.
6. For two days, you are gathering these entrepreneurs, what will be the outcomes?
We expect all those attending to leave with a different mindset on how we can transform ourselves economically. We shall have a room points at the close of each day where we intend to actualize our new narrative of Entrepreneurship. Delegates will be equipped with awareness on the opportunities at our disposal to succeed in our entrepreneurship pursuit.
7. Which thought leaders in the entrepreneurship space are making an appearance? How did you choose these figures?
Our panel of CYE resident judges selected from a sample space of about 50 young entrepreneurs. Among those making appearances include; Anita Beryl, Anthony Natif, Bettina Kavuma, Maxima Ninsimenta, Dickson Mushabe and Ian Ortega among others.
8. Who are you partnering with on the summit and on CYE? How does one come on board?
We are working with UCC as they celebrate 20 years, DFCU bank, Victoria University, KHM, Roofings, Crest Group and ofcourse the Chamber of Young Entrepreneurs Uganda.
9. Anything that you think someone should know about CYE and the Summit?
The Chamber of Young Entrepreneurs Uganda is an initiative meant play a collaborative role between the Young people, their business and opportunities available both locally and globally. The Summit, one our 20 multi level engagement, is meant to get us re-thinking our paths to a successful entrepreneurship environment.
10. Your last words to all young entrepreneurs out there?
There is a revolution beckoning. It’s young people taking economic power in their hands and will power. I believe that the next decade would witness a revolution in entrepreneurship never before witnessed in our country.
So the new businesses that would emerge would not be thinking of mere subsistence and cuteness, but would be concerning themselves with how many jobs hey are creating, opportunties they are creating, clients they are reaching, how many sales points they have, much more.
I close with a question to the BigEyeUG readers: If your life were an economic movie, what will the title be?