Government has asked struggling stand-alone enterprises to make partnerships so as to make their business more lucrative.
David Gonahasa, the lead manager for Industry 4.0 bureau at the Ministry of Science, Technology and Innovation, says weak and struggling small and medium enterprises should make partnerships to transform and create jobs.
He said the government has earmarked more than Shs90 billion for the promotion of innovations in the country to support ecosystems, incubation, and other such systems.
Gonahasa made the remarks while officiating at a ceremony where the Youth Start-up Academy Uganda (YSAU) signed an investment deal with Korean venture capital company Ventureport to promote the development of local startups in the country.
The YSAU national coordinator, Rita Ngenzi, said this transformative project also aims to incubate and nurture talents of 1,000 young entrepreneurs with an ultimate goal to foster a thriving startup ecosystem in Uganda, bolster youth employment and business establishment.
Although Ms Ngenzi did not disclose the package in the investment deal, she quickly said they would be getting technical support from the said donors.
