On Friday July 14, 2017 was the main event for the Business Plan competition was hosted by MUBS at the Annex Bulogobi where a panel of judges from both MasterCard (who are our sponsors) and MUBS had to select the best two teams in the competition. There were 10 teams which participated in this competition. They include; Campus Foodz, Ffena Tukole, Health Gifting Point, Teheca, Digital Waste Managers, Giraal Africa, Smart Business Centre, Permaculture Mobile Application, NutriConnect and Digital Notice Board.
These teams had to present their ideas for 5 minutes, each, to the panel of judges and also to get reactions from the Audience.
Out of the 10 teams, Teheca which provides elderly care services and Giraal Africa which is an online fashion business were among the two teams which were selected and emerged as winners for this years’ competition. Each winning team won a prize of $2,500 totaling to $5,000. All members of the two winning teams from Teheca and Giraal Africa were awarded with mobile phone presents.
Mrs. Ivon Jerry an employee and marketer at MasterCard Kenya encouraged the rest of the teams not to sit back but rather to continue working on their ideas.
MasterCard Kenya in partnership with MUBS has given Labs and funding to the two teams to incubate their ideas at the Makerere University Business School Entrepreneurship Centre for a period of up to six (6) months.
Mrs. Remmie Namutangula, the administrator of MUBS Incubation and Innovation Hub, thanked the MUBS Entrepreneurship Centre for having the Incubator where entrepreneurs come with unique business ideas and they are incubated. She encouraged people to always approach the Entrepreneurship Centre with their ideas for guidance. “Don’t sit on those ideas”, she said.
She went ahead to thank MasterCard Kenya for their support and working with MUBS.
“Today we have made history not only in MUBS but also in Africa because the 48 Hour Innovation Express Program by MasterCard labs Kenya is the first of its kind to run in Africa”, she said.
She added that MasterCard labs and MUBS would be proud to see all teams making real business and also thanked Professor Waswa Balunywa, the Principal of MUBS for supporting this competition and making it a reality.