Last week, the Innovation and Incubation Lab hosted a three-day business bootcamp designed to nurture entrepreneurial talent among Mastercard Foundation Scholars. The bootcamp attracted 46 business proposals from the participating Mastercard Foundation Scholars, with each proposal undergoing a rigorous evaluation by a team of expert reviewers drawn from fields including business development, finance, and entrepreneurship.

Following the initial assessment, an impressive 98% of applicants went on to pitch their ideas before a panel of seasoned professionals, offering the Mastercard Foundation Scholars a valuable platform to defend, refine, and validate their business concepts. The intensive three-day bootcamp equipped participants with the skills necessary to translate their ideas into scalable, sustainable ventures.

The bootcamp featured a dynamic curriculum, including the Start and Improve Your Business (SIYB) simulation game, interactive workshops on business ideation, market analysis, branding, and marketing strategies, sessions on business model development and financial modeling, and collaborative learning, practical exercises, and personalized coaching. The training was supported by a team of dedicated business coaches and mentors, including Jackson Mwaniki, Evelyne Wanjiku, Euphrasia Kagai, Timoland Ochola, and Simon Muriungi, who gave participants customized and intensive support as they worked towards the implementation of their concepts.

The training ended in an award ceremony on Thursday, April 24, where 33 Mastercard Foundation Scholars secured funding to launch their businesses. An additional 10 Mastercard Foundation Scholars were selected for further mentorship and refinement, with funding opportunities available upon successful project development.

In her remarks, the Program Director, Ms. Linet Aguko urged them to share their knowledge with others and create sustainable impact in their communities, by starting with what they had in hand.

“Whenever I speak to young people, I always emphasize: everyone has something to give. The knowledge and insights you hold are powerful. Please share them generously. It is my hope that the business ideas you are developing will create meaningful impact, not just in your own lives, but in your communities and in the lives of many others. I look forward to hearing more about the amazing work you’ve been doing and the difference you are making,” she said.

“Many young people out there have promising business and social venture ideas, but may never get the chance to sit where you are today. That’s why it's so important that you take what you’ve learned and share it widely,” she added.

In his remarks, the Vice Chancellor congratulated the winners, noting their commitment towards creating employment and solving one of the continent’s biggest challenges.

“I’m truly glad to see what you’ve all been working on entrepreneurially. Your engagement and interest in creating opportunities for employment is commendable, because employment remains one of Africa’s greatest challenges. Listening to your ideas gives me real hope, but it’s not enough to simply have a great idea. You must also learn how to pitch it effectively. You never know who might be listening, someone could help expand your market or take your idea further. So, as you continue training and growing your ventures, also learn how to confidently sell your product,” he said.

His sentiments were echoed by Dr. Billy Wadongo, the Director of the Innovation and Incubation Center, who congratulated the Mastercard Foundation Scholars on their achievement.

“Your business ideas reflect a commitment to solving real-world challenges across various sectors, including sustainable agriculture solutions, innovations in African fashion, educational technology, the growth of cottage industries, and assistive technologies for persons with disabilities. These ventures represent a promising step toward Africa’s future socio-economic transformation,” he said.

“We are proud of you and the innovation, energy and resilience you’ve shown over the past three days. We look forward to celebrating your achievements as you create a more vibrant and entrepreneurial content,” he said.

The bootcamp forms part of the trainings designed to equip Mastercard Foundation Scholars with skills to build their entrepreneurial skills, as part of the Mastercard Foundation Scholars Program’s strategy to provide Mastercard Foundation Scholars with support services to enable them to form sustainable businesses with a multiplier effect on job creation.