Last week, five entrepreneurship students of Akilah Institute for Women faced off in a competition that saw the winner walk away with Rwf2 million.

Dubbed Akilah Entrepreneurship Fund (AFF), the competition was aimed at inspiring students, especially those pursuing entrepreneurship courses, to create their own business rather seek jobs.

The students presented their business plans before the judges with each detailing how their model works. The business plans included; how to start coffee processing plant, growing oyster mushroom, wedding decoration, promoting the Rwandan culture through making creative and unique baskets, as well as making jewelry.

Lisa Doherty, the academic director at Akilah Institute for Women, said the concept was hatched after noticing that accessing loans for entrepreneurs was a challenge especially among women.

"However much we offer our students all the skills they need to compete outside, they still fail to even start small businesses due to lack of capital. We wanted this to be one of our strategies to solve such problems, and also to inspire them to acquaint themselves with business plans of their choice,” she says.

Doherty said the money will not only solve their business problems but also motivate them to think bigger on how to handle challenges as their businesses grow.

According to Christella Kwizera, a social entrepreneur and a managing director for Water Access Rwanda, who was on the panel of the judges, the competition will inspire more women to try out their dream businesses.

"I believe this will encourage young women to become their own bosses. Such programmes should be taken as a step for the winner to move forward and expand their business. I think this is the best approach,” she says.

Pascaline Uwineza beat her fellow contestants to the top prize with her business plan of growing oyster mushroom, which she started in April. She attributed her success to hard work and passion.

"For the past three years I had been doing research on the market demand and availability of mushroom in the country, and I had all the information concerning it. I have been growing them at my small farm for both consumption and selling to a few customers,” she says.

Uwineza added that with the money, she will expand her business and also be able to meet the demands of her customers.

Sakina Uwineza and Susane Murekatete, the first and second runners-up, were rewarded Rwf1,500,000 and Rwf1,000,000 respectively.