PROGRAMS

Social Enterprise For Africa

Our flagship program aims to train, mentor and source seed capital for socially conscious entrepreneurs. Its is the backbone of our work. We have developed a specialize curriculum for socially minded African entrepreneurs of various educational backgrounds and with little to no access to capital. The course work, classroom activities and workshops help them navigate the core of the business development process.

What We Offer.

  • Business planning & development
  • Peer and expert coaching
  • Financial modeling
  • One on one Mentorship
  • Investment readiness preparation
  • Investor matching

Poverty and unemployment rates are on the rise in Uganda, despite decades of traditional aid pouring into the country. More than a quarter of African countries have more poverty now than ever before. Additionally, 90% of Ugandan youth entering the job market are currently unemployed. However, Uganda has been deemed the entrepreneur capital of the world though most businesses fail in the first three years.

Einstein Rising created the Social Enterprise for Africa (SE4A) program in reaction to this gap between the number of businesses created in the country and the extremely high failure rates. The social business accelerator program includes coursework and mentorship to support social entrepreneurs free of charge. Local entrepreneurs utilize local resources to move their communities out of poverty as they build wealth and an inclusive economic system in the free market. The concept of the triple bottom line – planet, people, profit – drives each business. Einstein Rising has developed a team that provides an infrastructure of support from start to finish and makes financial investments of $2,500- $10,000 into the strongest businesses. In return, Einstein Rising receives a 10% return on gross profits annually which provides funding for development programs and outreach.

The existing program seeks to grow the number and impact of social entrepreneurs in Uganda by the end of 2020 and will conduct the following activities that are designed to meet the program’s objectives:

  • Recruit 150 new social entrepreneurs to complete the program by the end of 2020. Hire more staff to accommodate the increase in program participants.
  • Provide a three-month business accelerator curriculum to four different cohorts on quarterly basis.
  • Allow participants to pitch Einstein Rising and East African investors for an opportunity to receive startup capital.
  • Provide follow up with each business to assess number of jobs created and measure quality of life, income and profit, and impact on the environment.
  • Provide continued mentoring, support, and follow up.

Small to Medium Sized Entreprises (SME’s) fueling economic growth

Small businesses are not offered funding from banks and other formal lenders due to size and risk of insufficient growth. When entrepreneurs do secure a loan, they often face extremely high interest rates. One solution is microfinance – or micro lending – which has attempted to mitigate the large unemployment rates by loaning money to small businesses.

The problem with this solution is the loans may only improve a single household and not an entire community. Micro lenders also lack business development resources and mentorship programs to create truly scalable businesses.

Small to medium sized enterprises (SME’s) play a major role in most economies, particularly in developing countries. According to World Bank, “formal SMEs contribute up to 60% of total employment and up to 40% of national income (GDP) in emerging economies” with numbers increasing significantly when informal SMEs are considered. Researchers predict 600 million jobs will be needed in the next 15 years, particularly in Sub-Saharan Africa. However, SMEs lack access to capital which increases failure rates and stagnation, making jobs unavailable for the thousands of people currently unemployed.

Einstein Rising recognized there was a gap that was not being filled. SMEs weren’t receiving the business support and resources needed to build sustainable and viable businesses. To solve this problem, Einstein Rising found an innovative alternate solution and created a social enterprise program for entrepreneurs to provide business development tools and startup capital to facilitate economic growth and wealth creation. These inclusive methods empower individuals to assess their community’s problems and needs and find local solutions using their own strategies. This led to Einstein Rising’s largest program, Social Entrepreneurs for Africa (SE4A).

Social Entrepreneurship

The social enterprise entrepreneur business model focuses on the commercial selling of goods and services with profits being invested back into the business, individual, and the community. A social enterprise business measures success based on people (the social impact), planet (environmental impact), and profit (traditional bottom line). The triple bottom-line approach improves efficiency of free market activity and ensures the business owner, society, and the environment benefit from the business. This new method of support to Africa includes facilitation of free market activity, cultural awareness, knowledge transfer, and accessibility.

 

This move towards wealth creation has a trickle-down effect in decreasing poverty throughout entire communities via job creation and the positive effects of businesses on customers and their individual communities.

 

They are supported throughout the entire process to ensure their ideas are turned into prestigious businesses. In creating an infrastructure based on business advisement and development, Einstein Rising helps entrepreneurs access the necessary tools in order to not only create their socially and environmentally inclusive companies but also to create lasting and profitable businesses for years to come.

 

The burden of high interest and high rejection rates of business proposals is removed and opportunity to start and grow a business is realized, paving the way for an inclusive and thriving economy. This requires a shift in people’s mindsets in Uganda from being financially dependent on traditional aid to being financially independent individuals who utilize locally available resources to improve not only their lives but the lives of others in the community and the environment.

 

Social Entrepreneurs for Africa (SE4A), is based upon the principles of free market and inclusive economics, which focuses on local needs, not regulated mandates issued by often distant or uninvolved parties. Einstein Rising believes this is critical for economic development in Africa. In effect, Einstein Rising is ushering in a new era of inclusive institutions throughout Africa, beginning in Uganda. The program is based on the core belief that social good, profit, and participation in a free market economy do not need to be separate entities. All the income generating mechanisms in this program are tools toward the end goal of complete financial independence for each entrepreneur. Each entrepreneur receiving investments will be giving back to the next generation of incoming leaders, change makers, and wealth creators.

Community Outreach Program

This is one of the corporate social responsibility programs under Einstein Rising through which the organization gives back to the community by the planting of trees, cleaning up slum areas while sensitizing the community about the environment.

Objectives

To encourage tree planting and street or slum cleaning at both homestead and community levels while advocating them as a solution to the rapid climate changes like global warming.

To install the culture of planting trees for food security, health and better livelihood where fruits bore are eaten or sold thus sustainability.

To revamp and encourage good attitudes towards clean environment, agriculture and farming as they are the backbone of this Uganda’s economy.

Social Enterprise Capital Raising (SECR)

This takes place at the completion of the 3-month program when participants can participate in Pitch Day. In addition, the program staff and board of directors evaluate the new business and determine if it is ready to launch. The entrepreneurs who graduate from the accelerator program often need to raise funds to facilitate growth from the start-up phase to the expansion phase. Each participant is given five minutes to pitch the business and its projections. Einstein Rising provides staged funding from $2,500 to $10,000 USD to the most impressive entrepreneurs. However, the graduates with higher capital requirements are referred to the program’s funding partners which include impact investors and banks.

Currently, there are 40 East African investors who partner with Einstein Rising. The portfolio of investors continues to grow. The investments will vary depending on the needs of the company and investor. The terms of the investment will also vary depending on the company’s financial projections. Einstein Rising will see a return on its investment by earning 10% of gross revenue from each investment. After 10 years the businesses’ financial obligation contract with Einstein Rising will expire.

For outside investors, investment opportunities are generally structured through equity or convertible notes. Equity is the simplest form; however, convertible notes create a safeguard for both the investor and the entrepreneur during the launch phase. Investments made to Einstein Rising entrepreneurs will incur a one-time management fee to subsidizes Einstein Rising’s expenses to maintain oversight of the growing company. This ongoing accountability also safeguards investments.

 

Want to become an investor? Send us an email to set up a meeting with our senior staff to learn more.

Skills For Change Program

This is one of the pilot corporate social responsibility program under Einstein Rising with the core intentions of giving back to the community by offering practical training skills like making soap, books, charcoal, stoves, shoes, candles among others to the unemployed youth, women, and men, street kids thus nurturing them into potential entrepreneurs.

Objectives

To train the different groups of people in different communities’ practical skills so that they are empowered to become entrepreneurs for self-reliance and sustainability.

To give back to society by offering them a free platform to acquire much capital to start but can change their lives once the skill is replicated.

About Us

Einstein Rising’s business development curriculum trains the next
generation of social entrepreneurs. They are wealth creators with
profitable ideas to tackle human and environmental issues, driving
permanent change.

CONTACT INFO

Brian Mangeni (Uganda)
Tel: +256 (0) 782 222878
Alexis Chavez (U.S.A)
Tel: +1 917 327 4252
For General Inquiries
info@einsteinrising.org