This report presents a comprehensive overview of the Leadership, Entrepreneurship, and Economic Advancement Program (LEAP), a flagship initiative implemented by SIMAD iLab in partnership with SIMAD University, Premier Bank, and Direct Aid. LEAP was designed to empower young Somali entrepreneurs by combining structured entrepreneurship training, incubation support, mentorship, and access to Sharia-compliant, zero-rate microfinance.

Program Overview

The Leadership, Entrepreneurship, and Economic Advancement Program (LEAP) is a flagship initiative implemented by SIMAD iLab in partnership with SIMAD University, Premier Bank, and Direct Aid. The program is designed to respond to the challenges faced by young Somali entrepreneurs, particularly limited access to finance, business skills, and structured support. Through a comprehensive approach that combines entrepreneurship training, incubation services, tailored mentorship, and access to Sharia-compliant, zero-rate microfinance, LEAP aims to nurture sustainable, high-potential youth-led enterprises that contribute to economic growth and job creation in Somalia.

Implementation Journey

This report documents the complete implementation journey of LEAP Cohort 1, covering all major phases from inception to execution. It highlights the formation of strategic partnerships and the signing of Memoranda of Understanding, followed by outreach and awareness campaigns, the call for applications, and structured information sessions. The report further details the bootcamps, pitching events, startup selection process, and the official launch and award ceremony, providing a comprehensive record of how the program was implemented and delivered.

Entrepreneur Selection & Funding

The LEAP Microfinance Program attracted strong interest, receiving a total of 100 applications from aspiring entrepreneurs. After an initial screening process, 57 startups were shortlisted to participate in intensive bootcamps and pitching sessions. Following a rigorous evaluation based on innovation, feasibility, market potential, sustainability, and team capacity, 24 startups were selected and financed. These selected ventures represent some of the most promising youth-led businesses emerging from the SIMAD ecosystem.

Financing & Sector Coverage

In total, USD 275,000 in Sharia-compliant, zero-rate microfinance financing was provided to the selected entrepreneurs. The funding was strategically allocated to support businesses operating in key priority sectors critical to Somalia’s economic development. These include technology solutions, agriculture and food security, services and hospitality, construction and development, fisheries and marine industries, and creative industries. This sectoral diversity reflects LEAP’s commitment to supporting innovation across multiple areas of the economy.

Incubation & Business Support

Beyond financial support, the winning entrepreneurs are enrolled in an intensive 8-week incubation program designed to strengthen their business foundations and accelerate growth. The incubation support includes personalized mentorship, business development assistance, financial management and reporting guidance, and support with market entry and scaling strategies. This integrated approach ensures that entrepreneurs are not only funded but also equipped with the skills, knowledge, and tools needed to build resilient and sustainable businesses.

Impact & Way Forward

The LEAP Microfinance Program demonstrates a sustainable and scalable model for youth empowerment, entrepreneurship development, and inclusive economic growth in Somalia. By combining access to finance with structured incubation and mentorship, the program addresses both financial and capacity gaps faced by young entrepreneurs. Building on the success of LEAP Cohort 1, SIMAD iLab and its partners remain committed to strengthening the program, expanding its reach, and supporting more entrepreneurs in future cohorts.

The full report is available for download HERE