By Vincent Juma and Silas Otieno

On March 28, the Innovation and Incubation Centre hosted an informative session aimed at equipping Mastercard Foundation Scholars, the foundation’s alumni and the Resolution Project Fellows, with strategies to sustain and scale-up their ventures beyond initial funding. The event held at the auditorium, provided a platform for sharing experiences, mentorship, and discussing sustainable business growth, entrepreneurial challenges and opportunities.

The session began with enriching discussions facilitated by Mastercard Foundation Scholars and the alumni who shared their entrepreneurial journeys, highlighting their achievements and significant lessons. The topics ranged from financial management to strategies for sustaining businesses beyond grants to maximizing the program resources such as mentorship, training, and seed funding. In the spirit of entrepreneurship, the Resolution Project Fellows championed for the creation of an Entrepreneurship Club that will promote peer mentorship, networking, and collaboration.

Representing the Innovation & Incubation Centre, Dr. Wadongo provided an overview and its role in supporting students in their entrepreneurial journeys. As he elaborated on the Mastercard Foundation Scholars Entrepreneurship Fund (SEF) 2.0, Dr. Wadongo described it as a financial grant designed to support Mastercard Foundation Scholars with scalable business ideas and capacity-building resources. The initiative extends past funding, offering dynamic support, including training sessions, mentorship, mental health support, and access to networking opportunities to ensure long-term success.

Additionally, he urged them to secure alternative funding sources and build strategic partnerships that will help them transition from donor-dependent models to self-sustaining ventures. He reiterated that true entrepreneurship is not about relying on funding; it is creating value that attracts investors as well creating a brand that matters to those it intends to serve.

Furthermore, Dr. Wambogo pointed out the importance of embracing a problem-solving approach arguing that research is essential and they should seek guidance to ensure their ideas address real community problems. “Focus on solutions, commit to them, and understand their dynamics. When we build meaningful ventures, money takes care of itself," he said.

In his remarks, the Program Officer, Transitions, Mr. Vincent Juma, encouraged the attendees to make use of the Innovation and Incubation Centre. “The Innovation and Incubation Centre is here for you, use it. This is a space to test your ideas, refine them, and turn them into impactful ventures. Take advantage of the mentorship, resources and networks available. Remember, the success of your ideas depends on your willingness to engage, and always remaining a student,” he concluded.