Housing Finance Bank recently joined StartHub Africa for the Open Innovation Program demo day where sux start-ups showcased their customized solutions to the growth of sustainable and smart cities.
The six startups were: WENA Hardware, Yunga, ShareCARD, RentBeta, Kawu, and SEMA.
The program is supported by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.
The Open Innovation Program, implemented by StartHub Africa in partnership with is dedicated to supporting technology-driven
solutions in the areas of smart cities.
This initiative aims to refine smart city ideas, establish long-term partnerships between startups and relevant partners, and equip
startups with personalized venture development and business modeling.
Within this context, Housing Finance Bank played a pivotal role in developing the problem statements in relation to smart cities, contributed to the shortlisting of participating startups, and offered training sessions and essential financial advisory services.
Furthermore, the Bank is actively pursuing Memorandums of Understanding (MOUs) with startups sharing mutual areas of interest to solidify its commitment to advancing the smart cities agenda.
John B. Kaweesi, the head of Mortgages and Consumer Banking at Housing Finance Bank emphasized the significance of this collaboration
during the demo day.
“We believe that the Open Innovation Program is a pivotal step in addressing the profound housing deficit, currently estimated at 2.4 million units, and in safeguarding our planet for future generations. Since the Program started, we have witnessed innovative solutions that not only reduce the cost of homeownership but also enhance environmental protection, home security, and digital platforms that unify key
stakeholders within the housing value chain,” Kaweesi said.
He said the bank is proud to be a part of the innovative movement shaping the future of housing and sustainability in Uganda.