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.

The report documents the full implementation journey of LEAP Cohort 1, from the signing of strategic partnerships and nationwide outreach to the rigorous selection and pitching process, startup incubation, and the official funding and launch ceremony. Through a highly competitive process that attracted 100 applications, 57 startups were shortlisted for bootcamps and pitching, and 24 outstanding startups were ultimately selected and financed based on innovation, feasibility, market potential, and sustainability.

In total, USD 275,000 in Sharia-compliant microfinance financing was disbursed to the 24 winning entrepreneurs, supporting businesses across key priority sectors including technology, agriculture and food security, services and hospitality, construction, fisheries, and creative industries. Beyond financing, the selected startups are receiving continued incubation support through an intensive 8-week program aimed at strengthening their operational capacity, financial management, and growth readiness.

This report highlights LEAP’s contribution to youth empowerment, job creation, and inclusive economic development, while showcasing a scalable model for entrepreneurship support in Somalia. It reflects SIMAD iLab and its partners’ shared commitment to building a resilient, innovation-driven entrepreneurial ecosystem for Somalia’s future.

The full report is available for download ... Leap Report