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MTN unveils Shs1bn fund for innovators

Vanhelleputte talks to innovators at Innovations Village offices in Ntinda.

Kampala, Uganda | JULIUS BUSINGE | Wim Vanhelleputte, the MTN Uganda CEO says that they have committed Shs1billion commitment towards the MTN Startup Fund which forms part of their ambition to continue supporting local innovators.

In a press release, Vanhelleputte encourages as many startups as possible to participate in the several innovation challenges “we shall be hosting in order to access funding from the MTN Startup Fund.” The company has also unveiled a Shs310million high speed internet connectivity package to the Innovation Village hub located in Ntinda, located a few kilometers from Kampala city centre, courtesy of the MTN Foundation.

The package includes free internet connectivity for use by young developers and innovators as part of its youth empowerment drive. Meanwhile, MTN Uganda has granted access to third-party access to its Mobile Money Access Programming Interface (API).

Company officials say that an open API platform enables developers and programmers to get free access to MTN mobile money proprietary software platform. MTN Mobile Money is the most widely used mobile money platform in Uganda.

Developers can now access it, create products that ease payment options and leverage the 10 million of MTN clients registered on the platform. “This is an exciting development for the Ugandan start-ups ecosystem.

Innovators will now be able to develop applications that ease the customer experience in terms of mobile money payments,” Elsa Muzzolini, the general manager for mobile financial services at MTN says in a press release. He adds that this move will spur innovation in the developer community around the country because it is the first time it is being done.

One comment

  1. thanks MTN but does the innovation has to be for only applications, because we have other innovative ideas which are agricultural based, and they are a solution of the future, so if there is space for that, then i will be happy to participate

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