The initiative was established in 2020 as a post-covid recovery initiative to enable enterprises to connect with business growth opportunities and financings. The aim is to reach out to high-growth promising entrepreneurs and expose them to business growth opportunities and financing to achieve their growth potential. Since 2020 the program has had over 100 entrepreneurs pitch to financiers with over 70% connected to financers.
The PitchFest is a program that presents a financial access pitching experience for promising high-growth enterprises; an initiative pioneered by Imuka Access and partners to provide an avenue for bridging the gap between entrepreneurs and investors. The aim of the program is to reach out to underserved entrepreneurs and expose them to business growth opportunities and financing to achieve their growth potential. It also provides a curated pipeline of bankable(investment-fit) businesses for investors.
PitchFest targets small and growing businesses that are already generating revenue(post revenue) with high growth and impact potential. It also targets involvement of Investors, financiers keen to invest in local high growth small and growing businesses.
In order to streamline the investment process for investors, Imuka provides a variety of third-party services such as document preparation, due-diligence, matchmaking, and validation support are provided prior. This is a valuable process as it reduces risk for investors and provides an easy-to-reach source of investment for entrepreneurs.
CORE OBJECTIVES To identify 200 promising high-growth businesses across the 4 regions of the country.To provide Business Development Support to 100 high-growth small and growing businesses across Uganda by Dec 2022.To connect at least 50 growth businesses to suitable financiers and investors
- Selected local early-stage businesses with high growth potential.
- Financiers-Angel Investors, institutional financiers, and investors keen to invest in local high-growth businesses.
The target beneficiaries are high-growth, high-impact early-stage businesses engaged in the following sectors; Agribusiness(Commercial agriculture, Agro-processing, and Value addition). Green(Green Businesses (Renewable Energy and environmental conservation), IT enabled-services, Tourism opportunities, Health and pharmaceuticals, Education, Real Estate (Construction and affordable housing), Manufacturing
- Entrepreneur identification and selection
- Business Development Support & Investment readiness coaching and training
- Pitching coaching and rehearsals
- Investor mobilization and participation
- Pitching for financial access
- Entrepreneur-Financier connections
Over 200 Entrepreneurs identified and supported in business clinics
Over 100 Entrepreneurs exposed to various financial opportunities
Over 50 Entrepreneur - Investor connections established
PLANNED ACTIVITY SCHEDULES & STRATEGIES
1) PITCHFEST BUSINESS CLINICS/INFORMATION SESSIONS:
The program has scheduled 7 business clinics which will serve as business connect workshops as well as information sessions where identified and selected entrepreneurs running high-growth businesses will be invited to connect, learn and share how they can benefit from the program. Each breakfast will invite 40 high-growth entrepreneurs in addition to selected local stakeholders/partners. Entrepreneurs will be invited to apply to participate. The Pitchfest business clinic will also feature local financial service providers keen to connect and share with the target segment.
Key Objectives of the Business Clinics are:
To provide relevant business management best practices and advisory support to selected enterprises.
To provide information details of the Pitchfest2022 for entrepreneurs seeking to raise funding.
To provide one-on-one business advisory support to local entrepreneurs.
To connect with local growing entrepreneurs to share: experience sharing and learning.
Access business advisory: to provide business advisory support to one on one or group of participants depending on area of interest.
To share the pitchfest business opportunity with the selected entrepreneurs.
2)PITCHFESTS PHYSICAL AND VIRTUAL BUSINESS TRAINING
The applicants will participate in physical and virtual business training based on their choice of convenience. The training will be to prepare them towards attracting finance for their businesses.
3) PITCHFEST REHEARSALS
The pitchfest rehearsals will be conducted both physically and virtual to prepare and guide the selected participants in articulating their businesses in ways that attract financing to their businesses.
4)PITCHFEST MAIN EVENT
This will be the main event featuring invited stakeholders namely investors, development partners, and corporate organizations keen to support and/or invest in local high-growth entrepreneurs attending and listening to the selected entrepreneurs during the main event.
The proposed dates and activities are as below:
Pitchfest Business Clinics & Information Sessions
Business Training Bootcamps & profiling
30th Aug-1st Sept
06th -8th Sept
Virtual -Cohort 1
As a key partner you will enjoy the following benefits:
Feature in promotional materials:
on all related events and activities ie Trainings and Business development classes
Business shows on Radio and Tv feature, website and social media)
Participate in the pitchfest business clinics and the pitchfest event.
Radio mentions of sponsor on partner business radio shows.
Increased brand amongst target entrepreneur audience