Techbuzz hub, a co-working and business incubation centre, is launching a startup facility program aimed at giving entrepreneurs a headstart in their early stages. Some of the issues the program is looking to tackle include; the high rates of startup failure as well as the scarcity of funding.
“Startups Facility Program is a comprehensive six (6) months facilitated program recommended for starters, budding entrepreneurs, startups, innovators, and managers,” says the statement sent to us.
Organisers of the program say that “participants will be facilitated with mentorship and training to structure, grow and create an investable startup business.” It’ll involve both online and physical modules.
“The Hub has arranged a program that lasts six months of online and physical capacity building divided into two-threes. Two months online training and mentoring, Two months Free office space utilization and Two more months of half office space fees contribution after which we believe one’s Startup, concept or idea has obtained a structure capable of attracting capital and more likely if it deals with products, Is able to have started generating revenues,” the statement added.
The program is mainly targeting people looking to start side businesses, entrepreneurs, innovators and fresh graduates. In order for one to be admitted into the program, they’re required to part with UGx. 300,000. Although this is a good concept and looking to address.
While this is not a bad idea and concept, the main question is about the mentors the program is looking to use as it doesn’t mention them anywhere. It would give one confidence to apply if at all they knew exactly what to expect.
Secondly, Techbuzz has been around for slightly over a year and it seems they’re biting more than they can chew. From internships, a co-working space, fortnyht series to now the mentorship program, the hub – a startup in itself – seems to be losing/lacking focus.
Kenneth Twesigye, who last year used his Tony Elumemlu Entrepreneurship Programme grant to inject in the hub, and currently heading it can’t boast previous experience in running a hub.
While as we still have a lot of issues to be tackled as a growing startup ecosystem, I think one should focus on a thing at a time. Others will take up what shall be left. Otherwise, good luck.
Note: Earlier on we reported that Techbuzz was less than a year old. That wasn’t true. The hub was started in August 2016.