YIDA founder shares on how young entrepreneurs can attract investors, secure funding

The inaugural Very Young Entrepreneur Education and Acceleration summit is currently in session at the prestigious Hilton Hotel in Johannesburg, where young and aspiring entrepreneurs are gathering to learn and network. One of the standout speakers at the event is Vanessa Ishimwe, the Founder of the Youth Initiative for Development in Africa (YIDA). In an exclusive interview with CNBC Africa's correspondent, Lubabalo Mashiqana, Ishimwe shared her personal journey and offered valuable advice on how young entrepreneurs can attract investors and secure funding for their businesses in Rwanda. Reflecting on her own experience, Ishimwe acknowledged the challenges of starting a business at a young age with limited experience. She emphasized the importance of perseverance and determination in the face of adversity. 'Studying a business at a young age with less experience is really tough. It's demanding and it's challenging. When you give yourself to the challenge, you give yourself up to the challenge and you don't quit. It's okay. My self-personality was hard, but with time I managed to run over through. And here I am,' Ishimwe remarked. When asked about the difficulties she encountered in finding investors for her business, Ishimwe candidly shared that it took her approximately two years to secure an investment. She highlighted the skepticism that young entrepreneurs often face due to their lack of proven track record. 'With less experience, nobody is going to trust that your business is going to yield something. So it was really hard, but then somewhere, somehow with much sensitization from different organizations to investors, they decided to invest in me, which is okay,' Ishimwe explained. Offering guidance to fellow young people embarking on entrepreneurial endeavors, Ishimwe emphasized the importance of resilience and continuous learning. 'My only advice that I keep telling everybody is, Stud now. Stud, fail fast, stud fast, and don't give up. Yes, it's going to be challenging. You're not going to get funds on sport, but yes, stud, and go ahead with it,' she advised. In response to a question about government and organizational programs in Uganda aimed at supporting early-stage businesses, Ishimwe acknowledged the existence of such initiatives but noted the challenge of awareness among young people. 'There are many programs that are run in my country by the government and by other organizations, and the challenge is many young people don't get the knowledge of those. They are ignorant about those opportunities, so it's rare for someone to get them,' she observed. Looking ahead, Ishimwe expressed her belief in the transformative power of entrepreneurship in East Africa, particularly if it is integrated into educational curricula and community initiatives. 'Well, I believe moving forward, if entrepreneurship is taken seriously in schools, in communities, then it should be something that is able to change East Africa as a region,' she stated. When asked about the readiness of Uganda and the broader East African region for an entrepreneurial surge, Ishimwe exuded confidence in the potential of her home country. 'Definitely, very ready. Uganda is the most enterprising country in the continent, so it is ready. But of course, with more training that need to give to the youth more sustaination and more bringing up awareness to the young people, how to run the businesses, how to be ready for the entrepreneurship and investments,' she affirmed. As Vanessa Ishimwe continues to inspire and empower young entrepreneurs in Africa, her journey serves as a testament to the resilience and determination required to navigate the turbulent waters of business ownership. Through her advocacy for education, awareness, and support for aspiring business leaders, Ishimwe is making a significant impact on the entrepreneurial landscape in Rwanda and beyond.