By Brenda Odhiambo

Last Wednesday, the Innovation and Incubation Centre and the Mastercard Foundation Scholars Program at USIU-Africa officially launched the Mastercard Foundation Scholars Entrepreneurship Fund (SEF) 2.0, an initiative aimed at equipping Mastercard Foundation Scholars with financial support, mentorship, and training to transform their business ideas into viable enterprises. The event, held at the university’s Innovation and Incubation Centre, brought together various stakeholders, including the budding entrepreneurs for an engaging session focused on entrepreneurship and sustainable business growth.

SEF 2.0 is an evolution of the initial Mastercard Foundation Scholars Entrepreneurship Fund (SEF), designed to provide Mastercard Foundation Scholars at USIU-Africa with financial grants and capacity-building resources. Under SEF 2.0, eligible Mastercard Foundation Scholars can receive up to $5,000 to support business-related expenses. The initiative extends beyond funding by offering comprehensive support, including training sessions, mentorship, mental health resources, and access to networking opportunities.

Dr. Billy Wadongo, Director of the Innovation and Incubation Centre, kicked off the session with an insightful presentation on how the Centre has been instrumental in supporting students as they navigate their entrepreneurial journeys. He highlighted Design Your Future Integrated Innovation Pipeline Program (USIU-Africa DYF-IPP) that integrates Startup Wars Platform, Innovation Nights, Design Thinking Workshops, Mastermind Sessions, Sin-outs Company building services, Business Development Services Training, and EDGE Leadership Programs into a unified innovation pipeline curriculum to nurture future-ready entrepreneurial leaders. In attendance were Eannes Ongus, Director of Advancement and Partnerships, Dianne Dusaidi, Lead, Entrepreneurship and Transitions at the Mastercard Foundation, and Madzo Mwadzoya, Lead, Transitions in the Mastercard Foundation Scholars Program at USIU-Africa.

One of the key highlights of the launch was a pitching session, where both Mastercard Foundation Scholars and other students showcased their business ventures, which spanned various fields from health, finance, social apps, branding, inclusivity, among others. The engaging session was a chance for the aspiring entrepreneurs to present their ideas, receiving valuable feedback from Dianne, as well as from their peers. The interactive nature of the session provided an opportunity for participants to gain fresh perspectives on how they could further refine their business models, address gaps, and gain insights into scaling their ventures successfully.

In her closing remarks, Dianne emphasized the importance of entrepreneurship as one of the ways that young people could contribute to the socio-economic development of their countries.

“Entrepreneurship is a powerful tool for economic transformation, and through SEF 2.0, we are empowering Mastercard Foundation Scholars to turn their ideas into impactful businesses that address real-world challenges. This initiative is critical to building a pool of visionary and resilient entrepreneurs who can innovate, adapt, and drive change across the continent,” she said.

Her sentiments were reiterated by Eannes, who highlighted the link between USIU-Africa’s commitment to entrepreneurship and its broader mission to equip students with practical, market-ready skills.

“Entrepreneurship is not just about business. It’s about leadership, problem-solving, and resilience. SEF 2.0 is an opportunity for our students to develop solutions that make a difference, and USIU-Africa is committed to providing them with the resources, mentorship, and networks they need to succeed,” he noted.