Kampala, Uganda | JULIUS BUSINGE | Nile Breweries Limited has launched a social entrepreneurship program dubbed “100+ Accelerator,” Cohort 2023 aligned towards the promotion of business start-ups committed to sustainability.
The program, 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.
“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 Rando, managing director NBL on May 24 at the company headquarters in Luzira.
He added: “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.”
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.
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, and interviews, and much as we didn’t receive investment, the feedback received has helped us grow our social venture,” said Franc Kamugyisha, CEO &Founder of Eco Plastile, a runner up in Cohort 4. The program also aligns with the UN Sustainable Development Goals.