Mutabazi criticized the current ecosystem’s heavy reliance on grants, stating, “Our ecosystem is too focused on grants, making entrepreneurs chase funding instead of building sustainable businesses.” She advocated for a balanced mix of angel investors, venture capital, and government support to foster a more robust entrepreneurial environment.
The duo stressed the importance of local partnerships and trust in driving entrepreneurial progress. Mutabazi shared her experiences with Hive Colab, noting that a coalition of key stakeholders is essential for innovation. “For an ecosystem to thrive, it needs a coalition of key stakeholders who are all on the same page,” she stated.
Ngenzi echoed these sentiments, emphasizing that trust is vital for creating sustainable partnerships. She pointed to lessons learned from South Korea, where government support has been instrumental in nurturing startups. “We learned from Korea’s success that government support—from funding to infrastructure to policy—is foundational for any successful startup ecosystem,” Ngenzi explained.
As Uganda aspires to strengthen its startup landscape, the insights shared by these tech leaders provide a clear roadmap for building a vibrant and sustainable entrepreneurial ecosystem.