Kampala — Sweden, through Innovations Against Poverty, has invested €912,000 (Shs4.1b) in eight inclusive businesses to encourage innovations for the less privileged people. Speaking at the awards ceremony in Kampala at the weekend, Mr Micheal Mahony, the SNV country director, said the awards seek to uplift people at the base of the pyramid to become innovators.
"We want to assist the less fortunate and we shall be there with you at every step you take," he said.
More than 387 companies and innovators submitted their application but only eight received the ultimate prize. Innovations Against Poverty, is a Swedish International Development Cooperation Agency funded by the SNV.
The partnership seeks to mold sustainable and inclusive business models that are commercially viable and deliver developmental benefits for the low income population, in rural and urban areas.
The project, now in its second year, mainly focuses on energy, agriculture, food and ICT innovations.