The NSSF Hi-Innovator Initiative 2021
Hi-Innovator is an initiative of Uganda’s National Social Security Fund (NSSF) that has established a start-up fund aimed at identifying and supporting Uganda’s small & growing businesses that have potential for great impact, sustainability and can be scaled.
The National Social Security Fund of Uganda (NSSF) is Uganda’s national retirement Fund that has, over the last 7 years, grown from a fund size of USD 800 million to the current USD 3.0 billion.
The Hi-innovator initiative seeks to provide visibility to small and growing businesses so as to help them secure seed funding, receive technical assistance and build partnerships for their growth.
- Access to free professional & technical assistance throughout the process
- Availability of funding to grow your business
- Access & exposure to investors to scale your business
- Employees of NSSF, Outbox, other selected partner entrepreneurship support organizations, and any individual involved in the Hi-Innovator program design, production, promotion, execution, distribution, and any such individual’s immediate family or household, are not eligible to participate in this initiative.
- Your application must be submitted through the Hi innovator website and idea management system. Applications received by email, WhatsApp, or in person will not be accepted.
- The business should at least have launched a product or service to market and received early customer feedback with some revenue (at least UGX 20 Million in the previous two years).
- The business should have been legally and actively operational for at least two years and should not have raised more than UGX 1 billion in either grant, convertible grants, venture capital, or Private Equity at the time of submission.
- You must have a fully registered business with Uganda Registry Services Bureau (URSB), Uganda Revenue Authority (URA), and The National Social Security Fund (NSSF).
- The Hi-Innovator initiative requires founder participation. All founding team members must commit to fully participate in at least 90% of the scheduled learning labs, and mentorship sessions in the initiative. Founding team members not fully committed to the initiative will not be accepted in the initiative, and their removal may render the remaining team ineligible for the program.
- All team members must be fully proficient in written and spoken English.
- You must be a Ugandan national OR a non-national currently living and working in Uganda with up-to-date work permits. Non-Ugandans should be running a business that includes a Ugandan in an ownership and decision-making role to be considered.
- Founding teams of individuals that are above 18 years of age at the time of the application and who are resident in Uganda. The initiative will only accept teams of at least 2 founding individuals. A team of one founding individual will not be considered. This is anchored on the fact that best businesses require teamwork and collaboration to scale and remain sustainable.
How to Apply
Interested applicants for the Hi-innovator initiative are encouraged to register through the link below;
Deadline: 23rd June 2021