Nile Breweries Limited (NBL), on Thursday launched an entrepreneurship promotion program, dubbed “100+ Accelerator Cohort 2022” aimed at promoting start-ups that have embedded sustainable development strategies in their operations.
Accordingly, the program will provide funding of up to Shs360m to each winning applicant whose business is designed to create a more sustainable environment.
Speaking at the program launch, NBL Legal and Corporate Affairs director, Onapito Ekomoloit said that the program is in line with the company’s dream to create a future with more cheers.
“First launched in 2018, the 100+ Accelerator works to accelerate the world’s shift toward sustainable solutions and to do business the right way, not the easy way,” Ekomoloit said.
He added, “It seeks to solve supply chain challenges across water stewardship, circular economy, sustainable agriculture, climate action, inclusive growth, and biodiversity,” he said during the press briefing at the company headquarters in Luzira, Kampala.”
Over the last two years, he said the program has accelerated 70 companies in over 20 countries, adding this year, they are particularly encouraging participation of Ugandan entrepreneurs.
Former winners currently operating in Uganda under sustainable agriculture solutions include Oko Finance and BanQu.
Ekomoloit explained that the 100+ Accelerator offers size and scale to passionate entrepreneurs to help bring their solutions to market faster.
He said once selected, based on the applicability of their solutions, participants will receive mentorship, training to implement a pilot project with some of the most well-loved brands in the world with the purpose
The 100+ Accelerator identified six challenge statements designed to encourage innovation.
These challenges are intended to support promising ideas and high potential technologies that align with partner goals as well as the UN Sustainable Development Goals (UN SDGs) across six areas: circular economy, smart agriculture, water stewardship, climate action, biodiversity, and inclusive growth (equity, diversity and inclusion).
Last year, the Coca Cola Company, Colgate-Palmolive Company and Unilever joined AB InBev to fund and pilot sustainable innovation in supply chains under the 100+ Accelerator’s ambitious, collaborative, and global program that runs on an annual basis.
“No one company or organization can solve today’s sustainability challenges alone. The 100+ Accelerator establishes partnerships with scientists, innovators, entrepreneurs and companies around the world to identify and scale new sustainability solutions,” Onapito elaborated.
The 100+ Accelerator program was launched in 2018 by AB InBev to help the company reach its 2025 Sustainability goals and support achievement of the UN SDGs. It is an innovation platform designed to exponentially fuel the growth of sustainability startups.
Six challenges to approach this year include; circular economy, smart agriculture, water stewardship, climate action, biodiversity, inclusive Growth (equity, diversity and inclusion)