The 10 teams that competed in the recent innovation face-off at Makerere University Business (MUBS) School stunned a four-judge panel with the revolutionary projects they presented.
In the competition, participants were given 48 hours to develop a new and unique product for MUBS- MasterCard Labs Business that would appeal to millennials.
The teams that took on the challenge were picked from across the country, converging at MUBS Bugolobi Annex on July 14to create a prototype of their idea, a business plan, and a video demo.
MasterCard has run new product challenges throughout the world during the past four years; however, the Innovation Express at MUBS was the first to be held in the country.
The MUBS- MasterCard Labs Business Plan Competition was created to help students and innovative individuals grow their business ideas.
The winning teams were Teheca, which provides elderly care services and Giraal Africa, an online fashion business.
The teams were awarded $2,500 (about 9 million shillings) respectively.
In addition they were awarded with mobile phones, on top of an incubation offer at the MUBS Entrepreneurship Incubation and Innovation Hub for a period of up to six (6) months.
Other competing teams included: Campus Foodz, Ffena Tukole, Health Gifting Point, Digital Waste Managers, Smart Business Centre, Permaculture Mobile Application, NutriConnect and Digital Notice Board.
Ivon Jerry a marketer at MasterCard Kenya encouraged the rest of the teams not to sit back but rather to continue working on their ideas.
Rehma Namutangula, the Focal person for the Entrepreneurship Incubation and Innovation Hub, thanked the MUBS Entrepreneurship Centre for facilitating the Business Incubator where entrepreneurs come with unique business ideas and they are incubated.
She encouraged people to always approach the Entrepreneurship Centre with their ideas for guidance. She also thanked MasterCard Kenya for their support and partnership with MUBS.
“Today we have made history not only in MUBS but also in Africa because the 48 Hour Innovation Express Program by MasterCard labs Kenya is the first of its kind to run in Africa,” she said.