Vodacom and Innovator Trust Launch Youth Entrepreneurship Programme

Posted on November 9th, 2017
Biz News

Today's Top Entrepreneurship And Business Stories (9 November)

Vodacom and Innovator Trust yesterday unveiled the Youth Entrepreneurship Programme (YEP), aimed at equipping local unemployed youth with the requisite set of skills to become cutting-edge entrepreneurs. The tailor-made youth entrepreneurial programme aims to drive innovations and create job opportunities that could bring significant changes to the local economy.

To kick it off, Vodacom and Innovator Trust are offering 10 unemployed youth, based in Gauteng, who graduated from the Vodacom Academy Programme a spot in the programme. During the period of six months, the qualifying youth will receive business training from experienced facilitators and gain insight into business acumen.

Takalani Netshitenzhe, Chief Officer: Corporate Affairs at Vodacom commented: “South Africa’s youth unemployment statistics are shooting through the roof, with the unemployment rate for under 25s at 67.4%, showing that two out of three South Africans aged 18 to 28 are unemployed. As a company with strong local roots and in partnership with Innovator Trust, YEP is part of our response to bolster our government’s efforts to curb the rising unemployment rate among young people in SA, given that entrepreneurship plays an influential role in driving economic growth and employment creation.”

YEP will relate to the overall business development support required for 10 Vodacom Academy graduates by supporting them with developing their business idea, business model, business plan and other business development areas. In turn the graduates will increase their potential of becoming an entrepreneur, thus also increasing their prospect of qualifying for a Full Business Incubation Programme.

The programme will include courses such as Pitching and Presentation Skills, Business Development, Marketing, Creating a Business Plan, Due Diligence and Compliance including CIPRO Requirements, Basics of Labour Law, New Companies Act/BEE, HR Management, and Financial Management, to mention a few.

Tashline Jooste, CEO of The Innovator Trust commented: “While there is no doubt that entrepreneurs, especially in the ICT industry, are highly skilled individuals, who understand their product or service, they often lack business fundamentals that are needed to grow an existing SMME business. This is why it is important for Vodacom and Innovator Trust to partner in launching this programme. This is not only the opportunity for us to change the face of the Industry, but to also point these young up and coming entrepreneurs in the right direction, so they can to make a success of their businesses.”

Entries Open For The FNB Business Innovation Awards

A’s entrepreneurs will once again be under the spotlight after FNB announced the official opening of entries for the coveted FNB Business Innovation Awards (BIA) supported by Endeavor South Africa (EndeavorSA).

The 4th instalment of the BIAs will take place in 2018 and businesses that can exhibit innovation and highest potential to scale are invited to submit entries. The businesses must be founder-led, demonstrate potential for high-growth and have the ability to add substantial economic value through the creation of sustainable employment opportunities.

Successful entries will go through Endeavor SA’s rigorous selection process where the qualifying entrepreneurs will be interviewed by a seasoned selection panel before they are shortlisted as FNB Business Innovation Awards Finalists for 2018. The selection process also entails that the finalists get an opportunity to present their businesses to the judging panel.

“More than ever before, South Africa needs entrepreneurs who can help to change the country’s economic fortunes for the better. The BIA platform presents the perfect opportunity for entrepreneurs to obtain the support they need in order to scale and contribute to job creation and economic growth,” says Mike Vacy-Lyle, CEO of FNB Business.

The overall winner will be dubbed the FNB Business Innovator for2018; the winner of the 2018 leg of the awards will receive an all-expenses paid trip to attend the prestigious Endeavor International Selection Panel (ISP) which takes place in Buenos Aires, Argentina from the 5th to 7th September 2018.

Craig Raw, founder of BrandsEye and the winner of the 2017 FNB Business Innovation Award says the accolade opens up international markets and provides the exposure which is necessary to successfully for building a scalable business.

“This platform gives entrepreneurs the ability to think globally as business need not be bolted down to a local market when the view is growth focused, exposure to and how successful businesses around the world operate adds a new dynamic to local business,” adds Raw.

As we are approaching Entrepreneurship Week (13 – 19 November), entrepreneurs are invited to submit their entries. Entries are open and will close on the 30th of December 2017. To apply, visit www.fnbbusinessinnovationawards.co.za and follow the prompts on the website.

Sunday Times Top 100 Companies 2017 Winners Announced

Governor of the South African Reserve Bank, Lesetja Kganyago has been celebrated as the Business Leader of the Year at the Sunday Times Top 100 Companies Awards, which took place at The Empire venue in Parktown.

The Finbond Group was announced as the Top Company of the Year, while Dr Patrice Motsepe was honoured with the prestigious Lifetime Achievement Award.

The Sunday Times Top 100 Companies celebrates JSE-listed companies that have performed consistently well in delivering the highest shareholder returns over the past five years.

The Sunday Times Business Leader of the Year Award is considered the ultimate accolade as recipients are decided by CEO’s of the Sunday Times Top 100 Companies from the previous year. Kganyago joins an elite list of prominent business leaders including Pravin Gordhan, Johan van Zyl, Michael JordaanPhuthuma Nhleko, Johann Rupert, Brian Joffe, Graham Mackay, Maria Ramos, Adrian Gore, Whitey Basson and Dr Christo Wiese.

South African mining magnate and philanthropist, Dr Patrice Motsepe, received the Sunday Times Top 100 Companies Lifetime Achiever Award, as decided by the Sunday Times and two independent panellists. Dr Motsepe is the founder and executive chairman of African Rainbow Minerals, non-executive chairman of Harmony Gold, and deputy chairman of Sanlam.

Finbond Group (JSEFGL) received the 2017 Sunday Times Top Company Award for the performance it delivered to shareholders over the past 5 years. Finbond shares opened at 8 cents in 2012, and closed at 215 cents at the end of August 2017, with an annual compound growth of 110.34%. This means that R10,000 invested in 2012, would have delivered R411,699 in 2017. Adaptit Holdings (JSEADI) and Fortress Income Fund (JSEFFB) placed second and third respectively.

The Sunday Times Royal Companies are those which have placed in the top twenty positions of the Sunday Times Top 100 Companies for three consecutive years. In 2017, the companies that have maintained consistency include Fortress Income Fund Limited; Naspers Limited; Mondi PLC; Afrimat Limited; Trustco Group Holdings Limited; PSG Group.

Full results of the Sunday Times Top 100 Companies will appear in the 12 November 2017 edition of the Sunday Times newspaper. (via Bizcommunity)

Tshimologong Launches Global Entrepreneurship Week Programme

As the world gets ready to celebrate Global Entrepreneurship Week (GEW) from 13 to 17 November 2017, the Tshimologong Precinct at Wits University, has joined the movement and will form part of the 170 countries celebrating innovation, entrepreneurship, and creativity. With a chosen theme of Industry 4.0, Tshimologong will focus on Entrepreneurship in the New Digital Landscape.

Lesley Williams, CEO, Tshimologong says that Industry 4.0 is already changing the way we communicate, consume and produce: “The impact on society is immense as business, governments and civil society have to change the way they think and operate. Entrepreneurs need to understand the integrated ecosystem of the Internet of Things IoT) and how Artificial Intelligence (AI) is disrupting the enterprise and the new opportunities and spring board for innovation this offers.”

Global Entrepreneurship Week is the world’s largest celebration of the innovators and job creators who launch start-ups that bring ideas to life, drive economic growth and expand human welfare. Williams says that during this week each November, GEW inspires people everywhere through local, national and global activities designed to help them take the next step in their entrepreneurial journey: “These activities, from large-scale competitions and events to intimate networking gatherings, connect participants to potential collaborators, mentors and even investors, introducing them to new possibilities and exciting opportunities.”

With the theme of Entrepreneurship in the New Digital Landscape, Tshimologong activities will serve as an introduction to Industry 4.0 and present ways in which entrepreneurs can participate in this new digital landscape. Williams says there will be an emphasis on how to leverage technology to innovate and run sustainable businesses.

Planned events include Navigating the Digital Innovation Landscape, IoT workshops, Data Science and Lean Business Methodology master classes, AI/VR/AR sessions including a pitching competition at the App Factory. Participants stand a chance to win Tshimologong membership which includes access to:

  • Co-working facilities,
  • Meeting rooms and venue space
  • Technology and business development programmes,
  • Legal advisory and book keeping services,
  • Member only events,
  • Tshimologong partner networking events