General
Nurturing Entrepreneurs: VC Launches Mastercard US$200k Seed Fund
On Friday, 15th February 2019, the Vice Chancellor of Makerere University, Prof. Barnabas Nawangwe represented by the Principal, College of Business and Management Sciences (CoBAMS) Dr. Eria Hisali launched the Entrepreneurship Seed Fund for the MasterCard Foundation Scholars and Alumni of Makerere University. The Entrepreneurship Seed Fund will support Scholars and alumni to create economic opportunities within their communities through social ventures.
The Mastercard Foundation announced a seed funding of US$2,000,000 on 11th August 2018 at the Baobab Summit in Kigali, Rwanda, to implement the Foundation’s Strategy in Africa titled: Young Africa Works in the next two years (2018 to 2020). The strategy focuses on finding solutions to the youth employment challenge and reducing poverty in Africa. The Foundation believes that young people, especially Scholars, will drive and lead change in Africa and are already working hard to fulfill this vision.
Makerere a partner university with Mastercard Foundation received US$200,000 as an Entrepreneurship Seed Fund. According to the Coordinator of the MCF Scholars Program at Makerere University Dr. Florence Nakayiwa, the funding will be geared towards nurturing scholars to come up with social and business ventures. The funds will also help to deepen the development of skills and mindsets required of Scholars as transformative leaders, committed to improving the lives of others.
“The Program Implementation Team designed a seed funding framework to ensure that, the fund will have the greatest impact possible in developing the Scholars as transformative leaders, creating jobs and change through the business ventures. In some cases, Scholars’ ventures will also serve as a ‘transition’ vehicle for them to gain employment after graduating university through their ventures” she said.
The Internship and Entrepreneurship Coordinator of the MCFSP at Makerere University Mr. John Osuna said that the Entrepreneurship Seed Fund is open to all business concepts or social projects that have a high-growth potential, are profitable in nature, have the ability to create jobs and are scalable. The eligible business concepts or ideas include; innovations in Sustainable Agriculture, applications of the service or technological innovation, food processing, tourism, trading, renewable energy, fashion, education, health, artificial intelligence and scaling up existing concepts or ideas.
Mr. Osuna also mentioned that the Fund is ring fenced for the Mastercard Foundation Scholars and Alumni as Principal Investigators or Team Leaders, but the Scholars are encouraged to work with other non-Scholars (other students in at Makerere University) on profitable and social impact projects.
“The first cycle commences this month on 23rd February 2019 with a Social design course for 6 weeks among other development support inclusive of finance up to US$6,000 per project, and mentorship; the second cycle, will be in February 2020,” he explained.
Eligibility and selection criteria
- Scholars in their final year of study supported by the Mastercard Foundation Scholars Program at Makerere University.
- Scholars must be the team leaders in a team of two to four people.
- Where the Scholars choose non-Scholars on their teams, the non-Scholars must be final year students at Makerere University and should not be more two per team.
- The business concepts or Social Venture Projects should be profitable, scalable and be able to create jobs for youth.
At the launch of the Entrepreneurship Seed Fund, Prof. Eria Hisali, thanked Mastercard Foundation for the bright idea that is going to change the mindsets of scholars towards business development. Prof. Hisali said that Makerere University has embarked on looking for work placements and opportunities that can support students’ social and business ideas.
“We have realized that unemployment is a big challenge to our students, therefore, we have embarked on seeking opportunities that can provide with students either jobs, or ideas to support their ventures. We are getting touch with the government to tap into the wealth creation programs that are geared towards helping youth. The University is revitalizing its Endowment Fund, and we believe that; as the funds grow, some should be channeled to these entrepreneurial activities,” he said.
He urged scholars to fully utilize the opportunity from Mastercard Foundation and build their entrepreneurial world.
He called upon students and other youth to tap into the government programs when he said, “as long as you are organized, this support will be availed to you. To the Scholars and Alumni, access to the seed fund is going to be a competitive process. Therefore, to the business projects that succeed I wish you the best in your new enterprises and to the ones that do not succeed, I believe the skillset acquired during the development support will place you in a better position to pitch your projects to other organizations in Uganda and beyond for funding.”
Mr. Ronald Edward Mukasa, the Business Development Manager at Enterprise Uganda, encouraged young entrepreneurs to always be innovative and flexible. In a presentation he made, Mr. Mukasa called upon scholars to pay attention to the 3Cs (Care, Competence and Character) when preparing to join the business or social venture sector. According to him, the business world is looking for people who can find problems and look out for the solutions. He therefore said that someone’s passion matters when engaging in business.
“The reason one goes to school is to discover him or herself. Have passion while working on your ventures and be exceptional. The new environment has space for someone that has an excellent idea. People are willing to pay attention to someone who is good at what he or she is doing. Therefore, you need to go beyond wearing a jersey and be able to score a goal,” he advised.
At the same function, the Vice chancellor launched the Mastercard Foundation Scholars Program (MCFSP) Alumni Association; a network that brings together graduates of MCFSP at Makerere University to share opportunities in academics, employment and entrepreneurship among activities.
The Principal Public Relations Officer of Makerere University Ms. Ritah Namisango encouraged students to fully utilize all the available volunteering opportunities, since this will help them to accumulate the much needed experience as they transition from the academic to the professional work environment.
The Scholars Council Representative on MCF Mr. Petere Ngobi and the Alumni Association Representative Mr. Charles Katuramu encouraged scholars to always take up leadership positions and develop their societies.
Guests were entertained by a remarkable poem from Mr. Andrew Muwhezi; a scholar from CoBAMS, as well as a team of scholars from Lane256.
Article Written by Public Relations Office
Makerere University has officially launched its Strategic Plan 2025-2030, marking a major milestone in its commitment to strengthening research, innovation, and human capital development in line with Uganda’s national development priorities.
The launch brought together senior government officials, university leadership, and development planners, including the Minister of Finance, Planning and Economic Development, Hon. Henry Musasizi, and a representative from the National Planning Authority (NPA), alongside the University Vice Chancellor.
A Vision Anchored in National Transformation
Speaking at the launch, the Vice Chancellor underscored the University’s ambition to significantly expand graduate training and strengthen its contribution to national development. He noted that the institution is targeting a return to pre-COVID enrolment levels and a substantial increase in postgraduate numbers by 2030, with a focus on producing highly skilled graduates, innovators, and researchers.
He emphasized that the Strategic Plan positions the University as a key driver of Uganda’s transformation through knowledge generation, innovation, and entrepreneurship, aligned with national priorities.
“The staffing distribution is shown here. Under the approved establishment, we intended to have 419 Professors, but we currently have only 75. We planned for 473 Associate Professors, but currently have only 144. This clearly demonstrates that we still have considerable room for growth in strengthening our academic staff profile,” the VC said.
The VC appreciated researchers and research centres, that continue to attract substantial research funding. He highlighted the Infectious Diseases Institute (IDI) and the Makerere University Walter Reed Project which attracted approximately US$70 million in international research funding into Uganda.
“When you combine the grants won by all our researchers through competitive international funding, the total exceeds US$200 million,” he said.
In her remarks, the Chairperson of the University Council, Dr. Lorna Magara, described the Strategic Plan as more than an institutional roadmap, calling it “a public covenant with the people of Uganda.”
She noted that the Plan marks “the launch of Makerere University’s next chapter,” adding that decisions taken over the next five years will shape not only the future of the institution, but also Uganda’s development trajectory through graduates, research, innovations, and leadership.
Dr. Magara emphasized Makerere’s unique national role as Uganda’s premier public university, entrusted with public resources and public confidence.
“Every investment made in Makerere must produce measurable value for the people of Uganda,” she said, underscoring the need for accountability, integrity, and impact.
Ambitious Targets for Transformation
The Council Chairperson and the Vice chancellor outlined bold performance targets under the Strategic Plan, including doubling postgraduate enrolment, increasing STEM enrolment from 30% to 55%, improving PhD completion rates from 10% to 35%, and more than doubling peer-reviewed research output, alongside a significant rise in patents and innovations.
Dr. Magara stressed that these targets are not aspirations alone but binding commitments against which institutional performance will be measured.
“Ambition is precisely what this moment demands. A strategic plan is not measured by the elegance of its language, but by the lives it transforms,” she said.
Call for Stronger Governance and Legal Reform
Dr. Magara also highlighted the need for reform of the Universities and Other Tertiary Institutions Act, Cap. 262, noting that the current legal framework has not kept pace with the evolving realities of university governance and innovation.
She called on Government and Parliament to support a timely review of the Act to enable universities to better optimise knowledge systems, productive assets, and innovation capacity in support of national development.
Government Endorsement and Strategic Alignment
Hon. Henry Musasizi commended the University for developing a forward-looking Strategic Plan aligned with Uganda’s Vision 2040 and the Fourth National Development Plan (NDP IV), which serves as the foundation for the country’s Tenfold Growth Strategy.
He explained that Uganda’s ambition to grow its economy from about USD 50 billion to USD 500 billion requires accelerated growth driven by productivity gains, innovation, and strong human capital development.
“Universities are central actors in national transformation. They are engines of knowledge creation, innovation, and human capital development,” he said.
The Minister stressed that government priorities include strengthening research, promoting industrialization, and ensuring that knowledge generated in universities is translated into practical solutions that support economic growth. He further highlighted the importance of accountability, efficiency, and value for money in public investments in higher education.
Universities as Drivers of the Tenfold Growth Strategy
In his presentation, the Senior Planner at the National Planning Authority, Samuel Kasule, emphasized that the Strategic Plan is firmly anchored in Uganda’s comprehensive development framework under Vision 2040 and NDP IV.
He noted that the Tenfold Growth Strategy seeks to accelerate Uganda’s economic growth into double-digit territory, enabling the country to achieve structural transformation and reach upper middle-income status.
Kasule underscored that universities play a critical role in this transformation through labour productivity, research, and innovation. He pointed out that priority sectors such as agriculture, tourism, minerals, oil and gas, and ICT depend heavily on skilled graduates and strong research ecosystems.
He also highlighted the importance of competency-based education, alignment of academic programmes with national human resource needs, and strengthening postgraduate training and research outputs.
A Shared Commitment to Transformation
Across all speeches, a strong message emerged: universities are central to Uganda’s development agenda and must evolve into research-intensive institutions that directly contribute to economic transformation.
The Strategic Plan 2025-2030 was widely commended for its focus on innovation, industry collaboration, digital transformation, and the commercialization of research outputs.
Government leaders reaffirmed continued support for higher education institutions through research funding, innovation ecosystems, and strengthened university–industry partnerships.
Conclusion
The launch of the Strategic Plan 2030 signals a renewed commitment to positioning the University as a key partner in Uganda’s development journey. With strong alignment to national priorities, the Plan is expected to accelerate research, innovation, and skills development necessary for achieving Uganda’s long-term economic ambitions. The Strategic Plan may be accessed at: https://mak.ac.ug/about/strategic-plan
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