More than 100 entrepreneurs from the Tooro and Rwenzori sub-regions are gearing up to compete for an innovation fund exceeding sh40m, aimed at helping businesses develop new products, embrace technology, and expand their operations. The funding opportunity, organized by the Fort Portal City Chamber of Business and Commerce in partnership with the International Development Law Organization (IDLO) and other development partners, will benefit 10 entrepreneurs selected through a business pitching competition during the Tooro Entrepreneurship Symposium (TESY) 2026.
Three-Day Symposium to Host Pitching Session
The symposium will run from November 16 to 18 in Fort Portal, with the pitching session scheduled for November 17. Muguda Murungi Apuuli, the chamber’s secretary and chief executive officer, said the fund would help entrepreneurs turn innovative ideas into viable businesses and accelerate growth through technology.
“This fund is a game-changer for our local entrepreneurs. It will provide them with the much-needed capital to scale up their innovations and contribute to the economic transformation of the region,” Apuuli said.
The initiative is part of broader efforts to foster entrepreneurship and innovation in Uganda, particularly in the Tooro and Rwenzori regions, which have seen a rise in startups and small businesses in recent years. The competition is expected to attract a diverse range of participants, from agribusiness and tourism to tech startups and manufacturing.
Empowering Local Innovators
The funding will be awarded to the most promising business ideas, with a focus on those that leverage technology to solve local challenges. Participants will have the opportunity to pitch their ideas to a panel of judges, including representatives from IDLO, the chamber, and other development partners.
“We are looking for innovative solutions that can create jobs, improve livelihoods, and drive sustainable development,” Apuuli added. “The pitching competition will not only provide funding but also mentorship and networking opportunities for the entrepreneurs.”
The Tooro Entrepreneurship Symposium is an annual event that brings together entrepreneurs, investors, policymakers, and development partners to discuss and promote entrepreneurship in the region. This year’s edition is expected to draw over 500 participants, including high-profile speakers and exhibitors.
Boosting the Local Economy
The innovation fund is seen as a critical step in boosting the local economy, which has been hit by the COVID-19 pandemic and other challenges. By supporting entrepreneurs, the initiative aims to stimulate job creation and increase the resilience of local businesses.
“We believe that by investing in our entrepreneurs, we are investing in the future of our region,” Apuuli said. “This fund will help them turn their ideas into reality and create a lasting impact.”
Entrepreneurs interested in participating in the competition are encouraged to register for the symposium and prepare their business pitches. The deadline for registration is November 10.
For more information, visit the Fort Portal City Chamber of Business and Commerce website or contact the organizers directly.
