The Dutch envoy to Uganda Henk Jan Bakker has lauded efforts by Bid Network aimed at stimulating entrepreneurial activity in Uganda.
He said this while presiding over a deal making event that was held at his Kampala residence yesterday.
Speaking to Chimp Reports on the sidelines of ceremony, Bakker noted that for the time he has followed Bid Network, the Investment Advisory has not only stopped at promoting local entrepreneurs abroad but also helped secure growth capital for a number of them.
He says that this alone, will go a long way in stimulating the country’s fortunes.
”Uganda needs more entrepreneurs and Bid Network is doing exactly that. One by engaging international investors but also by deal making which is very advantageous,” Bakker said.
Chimpreports under stands that investment capital remains a big challenge to many sprouting entrepreneurs.
According to a 2015 survey conducted by Rebecca Namatovu, a scholar and Global Entrepreneurship Monitor (GEM)- Uganda co-ordinator, 89% of Uganda’s youth entrepreneurs have no access to investment capital whereas only a paltry 6% cite Banks as their source of capital.
In response, Gert Van Veldhuisen, the Chief Executive Officer of Bid Network commended the Dutch embassy for their assistance in helping organise this year’s deal making event.
According to Veldhuisen, eleven business proposals were pitched to a host of investors by various entrepreneurs dealing in waste management, tourism, agriculture, technology and information technology among others.
Apparently, winners are yet to be announced.
He reiterated that plans are already underway to organise an investor trip slated for March next year.
Veldhuisen says that the intention of this meeting is to accelerate Bid Network’s deal making processes.
”At that event, successful candidates shall not only pitch their proposals to multi-disciplinary investors but also interact with them closely,” Veldhuisen said.
However to qualify, one must be having an enterprise worth 100,000 USD, a good management team and scalable model. Other than that, the business must positively impact the community around.
Bid Network is a Netherlands based independent investment advisory that specializes in deal making and securing investment capital for small and medium enterprises throughout East Africa.
Ever since it was founded in 2007, it has helped broker over two hundred deals investment deals worth $34m.