Youth are a Reflection of a Country’s Future, Says Korean Envoy
The Republic of Korea’s ambassador to Uganda, Park Sung-Soo, emphasized the importance of investing in youth while speaking at the closing ceremony of the Youth Startup Academy Uganda. He remarked, “If you want to see the future of a country, look at its youth.” This statement underscores the potential of young people in shaping the economic future and highlights the necessity of fostering entrepreneurship among them.
The ceremony concluded a two-year pilot phase where over 1,000 young entrepreneurs were empowered. Mr. Sung-Soo highlighted the role of startups in introducing innovative ideas and creating jobs, while scale-ups are key in driving further job creation and attracting investments. The synergy between startups and scale-ups creates a dual engine for economic growth, propelling development and fostering broader economic success.
The Youth Startup Academy Uganda aligns with Uganda’s National Development Plan IV, which emphasizes inclusive growth and sustainable industrialization. This alignment signifies a transformative step in empowering young innovators and promoting their contributions to national development.
The program, an adaptation of an initiative from Korea, is tailored to meet the needs of Ugandan entrepreneurs. It provides them with a platform to showcase their innovations on a global stage and gain invaluable knowledge to prepare them for global competition.
Barbara B. Mutabazi, the chief executive officer of Hive Colab, expressed optimism about Uganda’s rising potential in the global tech industry. She noted that Uganda was chosen as the first African country to launch this innovative program, indicating the country’s burgeoning prowess in tech innovation among its youth.
Collin Babirukamu, the director general of e-government services at the National Information and Technology Authority – Uganda (NITA-U), commended the impact of youth innovations. He stated that the 1,000 entrepreneurs who participated in the program are leading the charge in creating impactful ventures. In the current year alone, these startups have generated over 263 jobs, supported by $200,000 in funding for 24 individuals and 13 startups.
This initiative not only serves to empower the youth but also contributes significantly to Uganda’s economic strategies and global competitiveness in innovation. By fostering an environment conducive to entrepreneurial growth, Uganda is investing in its future leaders and innovators, ensuring continued economic progress and development.
