Capital Savvy, an investment and financial advisory firm headquartered in Kampala, Uganda has launched a blockchain innovation program (BIP) today in partnership with BSV Blockchain, Satoshi Block Dojo, Blockchain Association of Uganda, Refactory, and The Innovation Village. The program launch which hosted a number of developers and blockchain enthusiasts was held at East Africa’s biggest maker space, MoTIV.
According to CapitalSavvy, the first cohort of the BIP will experience a 10-week program with a robust curriculum developed by the BSV Academy. The program aims to provide the foundation required for developers to build scalable projects and enterprises on the BSV Blockchain.
Additionally, it will include intensive skills training and periodic meet-up sessions in which these innovators will access guidance through start-up obstacles and business acceleration strategies.
Reginald Tumusiime CEO of CapitalSavvy said, “50 entrepreneurs will be selected based on their clear demonstration of proficiency in a programming language such as Java C++, Python, and JavaScript, and should demonstrate entrepreneurial and leadership capabilities.”
He also emphasized that they chose the BSV blockchain platform for the developers joining the program because it is scalable, stable, and secure.
Patrick Prinz, the Managing Director of BSV Blockchain association pointed out that the program has been launched to highlight the different ways blockchain technology can support innovation.
He said, “Using blockchain today enables innovators to create effective and efficient solutions. Technology is all about efficiency, cheaper costs, faster, safer, and more reliable solutions.”
Commenting on Uganda’s current stance on blockchain regulation, Edline Murungi, the Legal counsel at Yellow Card said, “At the moment there is no particular law on blockchain technology, however, there are specific laws that deal with technology in general. In addition, there are laws that govern virtual assets such as the anti-money laundering laws where cryptocurrency service providers are accountable persons.”
She also advised, “If you are a payment service provider, follow the regulator’s terms to avoid losing your license due to unlawful operations.”
At the end of the hackathon, the best entrepreneur will be given the opportunity to represent next year’s cohort at the Dojo in London.
“At the end of the hackathon, the entrepreneur that presents an exciting and innovative solution will be sent to London for another 12-week incubator program. It will include further training on blockchain solutions and start-up obstacles,” Reginald stated.
He added, “This will provide an avenue for further learning, and linkages to potential venture capital partners for the entrepreneur. The rest of the entrepreneurs in the program will be exposed to several projects within the BSV Blockchain ecosystem where they will have an opportunity to be gainfully employed, thereby applying the acquired skills.”
Lyllian Nakasujja from Refactory, David Gonahasa, founder of Tripesa, and CK Japheth, Team Lead at The Innovation Village were some of the other speakers at the BIP launch.
Developers interested in the program are required to apply with a standard fee of $50 via https://bip.capitalsavvy.pro/ by the 19th of September 2022.