Elevating basic systems into tech solutions

Arsene Muhire, a recent graduate of Carnegie Mellon University Africa (MSIT '23), is an example of how entrepreneurial success is driven by a deep-seated passion for technological solutions. Reflecting on his startup journey, Muhire shared insights on what he’s learned since the founding of HOVA AI and discussed the pivotal roles played by CMU-Africa and Hanga Pitchfest, a platform for tech entrepreneurs.

Muhire's entrepreneurial journey began during his undergraduate years alongside his classmate, Xavier Ncuti, as they developed management systems for various entities, including the university library. During this period, they recognized an opportunity to elevate these basic systems into robust tech solutions. "I observed that our efforts were primarily focused on information management, rather than providing meaningful assistance to entrepreneurs," remarks Muhire. "This lack of robust data posed a significant challenge for retailers in making informed business decisions."

Once he began his graduate studies at CMU-Africa, Muhire, together with Ncuti, delved into the integration of artificial intelligence with data analytics, which led to the transformation of their management system into a tech solution. In 2022, their startup, HOVA AI, was officially registered as a business with the aim of providing small and medium enterprises in Africa's retail industry with innovative financial technology solutions. Their vision encompassed formalizing businesses, enhancing competitiveness, and broadening access to financial services, with the overarching goal of driving economic growth and development across the continent. Their clientele spans different sectors, including retailers in the service industry.

A year later, HOVA AI joined the CMU-Africa Industry Innovation Lab, gaining insights and mentorship from seasoned advisors. "The most memorable aspect stemmed from our engagement with advisors," Muhire emphasizes. "As startup founders, we are primarily technical individuals, lacking expertise in customer service, sales and marketing, or financial management. The training we received in these areas proved invaluable."

When Rwanda’s largest tech startup symposium, Hanga Pitch Fest '23, opened for applications, HOVA AI saw it as an opportunity to gain exposure for their innovative solution. This decision proved transformative when they secured a second place win out of 45 competing startups, along with a prize of USD $20,000 and invaluable networking opportunities.

"This win has catapulted us into the market positioning space," says Muhire. "Our next phase as a business will focus on building partnerships that will enhance our client portfolio, while optimizing our current operations."

HOVA AI is committed to raising awareness and educating small and medium-sized enterprise owners on how to transition from manual bookkeeping to data-driven solutions that promote informed decision-making. Their journey epitomizes the transformative power of entrepreneurship and the boundless potential of tech-driven innovation.