The Akilah Entrepreneurship Fund
Ist Place Winners
This past summer, Akilah Institute announced the first round of winners for the Akilah Entrepreneurship Fund thanks to the generosity of the UK firm Alquity Investments. Third-year Akilah students participated in a “Shark Tank” style competition for the opportunity to receive start-up funding for innovative business ideas. The winners were judged on the clarity, scalability, feasibility, and impact potential of their proposed ventures. All business are now registered with the Rwanda Development Board (RDB) and the award winners have consulted with Inkomoko Business Development Company on their business plans. It has been exciting to follow the winners as they dive into the due diligence and market research to lay the groundwork for their businesses.
1st place: Peace Restaurant by Anyikamiye Esther & Uwishoreye Julianne awarded: 2,000,000 RWF ($2500)
Forever Peace Restaurant is looking forward to opening their doors and offering a one of a kind African Cuisine dining experience to local Rwandans. They have identified a prime location close to a local university where rent is reasonable. It will be the perfect lunch spot for students and staff at the university. Next steps are to nail down their operational plan, buy equipment, and then Bon Appetite!
2nd: K-U Social Ltd by Francine Kawera & Uwamahoro Jane, awarded: 1,500,000 RWF ($2000)
K-U Social is about creating opportunities for orphaned children to learn a tradecraft and become self-sustaining. K-U’s holistic model involves training identified orphans as artisans and linking them with markets to sell their craft goods. Currently, K-U has identified the school for orphans and K-U is working to establish a partnership with them for the future.
3rd: Good Life Bakery by Ashimwe Chrystelle Eliano, awarded: 700,000 RWF ($1000)
Good Life Bakery will set up shop in Kigali to bake and sell different baked goods and cakes for special occasions. Whether it is a graduation or a wedding, Chrystelle is a skilled baker with a unique perspective. Even though Chrystelle received the smallest amount from the competition, there is huge opportunity for her to learn the importance and value of small beginnings.
4th: Ikaze Shop by Ancille Mukamuganga, awarded: 300,000 RWF ($400)
Many people in Rwanda have to travel long distances by foot or bus, but there is no place for them to buy food or supplies along the way. Ancille’s Ikaze shop will sell food products to travelers along Intore Avenue road in the Gasabo District in Rwanda, a very busy commuter area.
Stay tuned for more updates. Thank you Alquity Investments & Inkomoko for making all this possible!