The Bank of Kigali (BK) Foundation; and Inkomoko Entrepreneur Development have once again teamed up to launch the 7th BK Urumuri Initiative, a competition designed to grow and scale businesses and innovation across Rwanda.
The competition will award and support 25 outstanding innovative green businesses business ideas for this year’s edition which focuses on green growth.
Winners will not only receive a 6-month mentorship from Inkomoko, including training, consulting, and business advice, but they will also have the opportunity to grow their businesses, create jobs, and secure an interest-free loan from the Bank of Kigali.
Apply and Win
The deadline to apply for the BK Urumuri Initiative is 19th May 2023.
The 25 winners will participate in Inkomoko’s accelerator program from June to November.
To be eligible, businesses must be based in Rwanda, have annual revenue under Rwf500M, be registered for at least 1 year, and demonstrate financial profitability or a plan to reach profitability within the next year.
The applicant’s business should as well as show a track record of innovating in environmentally friendly production and practices.
Entrepreneurs are eagerly encouraged to join the BK Urumuri Initiative 2023 and compete for expert consulting and zero-interest loans by applying online at www.inkomoko.com or contacting +250 788 358 639 for more details.
Ingrid Karangwayire, the Executive Secretary of BK Foundation said the foundation has a commitment to respond to climate change impacts in communities while ensuring that a greener and equitable future forms the foundation of this year’s program.
“We want to promote sustainable businesses and innovations focusing on the circular economy, waste management, and other environmentally and socially conscious businesses to create a greener and more resilient economy,” Karangwayire said.
Aretha Mutumwinka Rwagasore, the Inkomoko Rwanda Managing Director added:
“We are excited to partner with the BK Foundation to identify and support ambitious enterprises that are leading the way toward a greener economy. Together, we can help them grow and create a lasting positive impact on our environment.”
Rwanda is one of the countries in Africa that has set its focus on green growth and the City of Kigali was selected as a lead in implementing the Green City initiative.