On Friday, Akilah Institution students engaged in a competition aimed at promoting their entrepreneurship skills, and winners were awarded capital for their projects.
The students presented business plans in front of a panel of judges and fellow students, explaining why they chose the business, the services they will offer, where they will operate, and how much they expect to sell. They also had to convince the judges why they deserved to win the money.
Stanley Mukasa, the business management and entrepreneurship programme manager, said such competitions are conducted every year in order to award students who have great ideas which could benefit Rwandans.
The business ideas ranged from redesigning old shoes with denim, Ubwiza Art — which was about abstract pictures, Ineza Passion Fruits Farm, Auto-wax Company — which will clean cars and motorcycles with a lesser amount of water, and Pineapple Ushers — a juice making concept.
Before announcing the winners, judges encouraged all participants not to give up on their ideas because they were all winners, rather, they were asked to develop them for Rwanda’s Vision 2020 goals.
The winner of the competition, Nicole Umuziranenge of Pineapple Ushers, walked away with a cheque of Rwf2 million which she said she’d use for branding, buying uniforms for the ushers, and other requirements needed to start the project.
The hospitality management student said that she opted for that business because it is not taken seriously, and she wants to build the economy and employ the youth.
Adidja Byukusenge of Ineza Passion Fruits Farm emerged second and won Rwf1.5 million. The young business hopeful wants to supply passion fruits to different hotels, and when her business stabilises, she will make passion fruit juice for sale as well.
One challenge she says she is likely to face is change in season, but she hopes to work with Rwanda Agriculture Board (RAB) to help with irrigation.
Eline Josiane Uwizera, a student of information systems, came in third with her Auto wax Company project.
Uwizera is to use the Rwf1 million she won to buy materials and pay rent for office space for the first couple of months. Her advice to the youth is to be creative and passionate about what they do because that is how they will build a better Rwanda and reduce the rate of unemployment.
"These competitions motivate students to come up with solutions to their problems and also contribute to job creation and growth in key sectors in Rwanda,” Mukasa said.
Fiona Cecile Umulisa, one of the judges, explained that the criteria when choosing the winners was based on business opportunity (need, solution, target segment), value proposition or uniqueness, market strategy plan, revenue model needs, cost structure, feasibility ,and impact presentation.
She called upon the youth who want to start up businesses to have a project idea first, and clear mission to help them meet their goals.
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