THE ICON MAGAZINE

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THE ICON MAGAZINE: Inspiring entrepreneurs through real life success stories.

Kampala, UgandaKampala, UgandaKenyaRwandaBurundiTanzania
Year Founded:
2014
Organization type: 
hybrid
Project Stage:
Growth
Budget: 
$10,000 - $50,000
Project Summary
Elevator Pitch

Concise Summary: Help us pitch this solution! Provide an explanation within 3-4 short sentences.

We are an entrepreneurship platform offering inspiration and experiential learning to individuals and startup businesses through success stories of transformational initiatives. We aim at stimulating the potential of individuals through entrepreneurship success stories

WHAT IF - Inspiration: Write one sentence that describes a way that your project dares to ask, "WHAT IF?"

What if failures/Challenges of successful entrepreneurs helped other individuals to identify their strength?
About Project

Problem: What problem is this project trying to address?

According to the Global Entrepreneurship Monitor (GEM) (2014), 28% of Ugandan adults own or co-own a new business. Over 40,000 young people enter the job market annually for only 9,000 jobs available each year. The number of startups has drastically increased but with little or no knowledge of nurturing infant businesses. Creating an additional business is more common that expanding an existing one.

Solution: What is the proposed solution? Please be specific!

We established an entrepreneurship platform with The Icon Magazine as our premier flagship innovation. The magazine features success stories of transformational initiatives, nuggets of personal development, business ideas and inspiration, in both digital and print, aimed at stimulating the potential of individuals and startup businesses. In addition to the magazine, the platform comprises of an annual entrepreneurship forum event, a demonstration farm, and focused at establishing an experiential vocational skills development center.

Awards

Not Yet
Impact: How does it Work

Example: Walk us through a specific example(s) of how this solution makes a difference; include its primary activities.

We publish the Icon Magazine, hold experiential learning sessions, and host the Annual Icon Entrepreneurs Forum, reaching 900 people annually. This platform empowers entrepreneurs with foundational information for businesses to thrive. The forum bridges the gap between novices and experts, builds entrepreneurship capacity, fosters experiential learning, and stimulates the potential of individuals to transform their lives and communities they live in through starting and growing feasible initiatives.

Impact: What is the impact of the work to date? Also describe the projected future impact for the coming years.

To date, we have produced 7 publications in both digital and print versions, we have over 700 subscribers for this magazine and with over 10,000 likes on Facebook in less than 15 months of our online presence and we expect the number to grow steadily. 3 people have started ventures after reading the Icon Magazine. In the next 5 years, we plan that in addition to the magazine, the Icon Entrepreneurship Platform will progress into a teaching consortium, with demonstration farms, business incubation centre, and a fully-fledged experiential leaning centre giving entrepreneurial seminars and inspirational coaching services for life and business management skills.

Spread Strategies: Moving forward, what are the main strategies for scaling impact?

We are working on partnering with government agencies for both subscription and support for this cause, notably ministry of education and sports in adding practical content to the syllabus and schools to make this magazine a part of students materials especially those studying entrepreneurship as a subject. In the next 5 years, we plan that in addition to the magazine, the Icon Entrepreneurship Platform will progress into a teaching consortium, with demonstration farms, business incubation centre, and a fully-fledged experiential leaning center.
Sustainability
Funding: How is your project financially supported?: 
individual donations or gifts - 80%
earned income (product or services sales, licensing, franchising, consulting, financing, etc.) - 20%

Financial Sustainability Plan: What is this solution’s plan to ensure financial sustainability?

Our financial stability lies in subscriptions from customers, funding proposals from foundations, we also look forward to diversification into experiential events with corporate companies sponsorship, work with line ministries e.g. Ministry of gender and other government bodies especially incubation centres.

Marketplace: Who else is addressing the problem outlined here? How does the proposed project differ from these approaches?

The problems of lack of entrepreneurial information is being tackled differently by various organizations including media (Print, Radio & TV) and these just give a hint but they don’t go into details of how the successful entrepreneurs evolved. The Icon Magazine goes an extra mile and pics out lessons for the readers to leverage on.
Team

Founding Story

This was when I and my colleague Francis Nsanga came up with an idea to inspire entrepreneurs. We were robbed off our time due to procrastination until a year later in 2014 when we managed to develop a business plan and actualized our idea into an entrepreneurship platform, with the Icon Magazine as our flagship innovation. This platform offers inspiration and experiential learning to individuals and start-up businesses through success stories of transformational initiatives. In addition to the magazine, the platform holds the Annual Icon Entrepreneurs Forum, carries out regional quarterly experimental learning sessions with individuals and groups. We are now focused on setting up a business incubation and experiential learning center.

Team

The Team comprised of 15 people. 5 of which is the core team consisting of Francis Nsanga MBA, CKM as the Chief Editor, Joshua Musasizi the Head of Operations, Balikuddembe Justine the Public Relations person, Derrick Ronald Ssejjengo the Head of Marketing and Augustine Tumwesigye the Head of Distribution. The rest of the team members are volunteers and contributors.
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