Uganda

Kampala

MEMBERS:
International Trade Centre, United Nations Project Netherlands Trust Fund IV

The Government of Uganda has put in place a conducive environment, allowing for the establishment of innovation hubs designed to facilitate the creation of an ICT innovation ecosystem and a marketplace for Ugandan digital products. We believe that our youth will be able to deploy sustainable solutions, creating employment for Ugandans.

Vincent Waiswa Bagiire
Permanent Secretary, Ministry of ICT and National Guidance

Ecosystem by the numbers

TOTAL EARLY STAGE FUNDING
<$50 m
GLOBAL AVG.
$431 m
ECOSYSTEM VALUE
<$100 m
GLOBAL AVG.
$10.5 bn
MEDIAN SEED ROUND
$100 k
GLOBAL AVG.
$494 k
MEDIAN SERIES A ROUND
$1.1 m
GLOBAL AVG.
$2.7 m
SOFT. ENGINEER SALARY
$10 k
GLOBAL AVG.
$42.1 k

Sub-sector Strengths

Fintech

From 2016 to 2018 Uganda’s Fintech industry had an average annual growth rate of 35%, with almost half of the nation’s approximately 80 Fintech startups operating in the payments sector. DusuPay, a leading B2B payment gateway operating in 115 countries, integrates with mobile payment platforms in many African countries to promote intra-African trade. Xante and Eversend are other examples of successful Fintechs that have raised pre-seed funding rounds ($100,000 in 2018 and $120,000 in 2019, respectively).

Reasons to move your startup to Kampala

Market

As the population skews toward tech-savvy Millennials with rising incomes, there's a large pool of unmet needs, particularly in financial services.

Active Tech Hubs

Uganda's leading tech hubs are organised under Startup Uganda. The country has over 16 tech incubation hubs, including The Innovation Village, Outbox Hub, Hive Colab, Design Hub, Makerere Innovation and Incubation, The Tribe, among others.

Government Initiatives

The government has funded around 4,450 projects through a youth venture capital fund that supports young individuals and groups.

COVID-19 Policy

Uganda’s Revenue Authority granted a 2-month extension on corporate tax filing deadlines until May 1, 2020 for taxpayers with accounting periods ending in September. Uganda's pension fund, the National Social Security Fund (NSSF), has granted an amnesty to businesses, allowing them to defer payment of benefits to a later time.

Startup Community

Startup Genome
Members

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