The City of Joburg is calling on all Soweto-based entrepreneurs to enter its new competition and receive cash prizes to be invested into their business and business support.
Are you an entrepreneur running a small business in Soweto? Do you have an innovative and original business idea? You could win a share of R575 000 for your business in funding and business development support through the new Soweto Business Stars competition.
The competition is an initiative by the City of Joburg, in partnership with The Business Place. It is open to entrepreneurs over the age of 18 who are either operating a small business in Soweto, or who plan to launch a new business there soon. Applicants must be current Soweto residents.
20 finalists from the competition will be chosen to compete for the grand prize of R175 000, to be invested in their business. In addition the top 5 finalist receive 9 months incubation support from The Innovation Hub, all 20 finalists will benefit from an intense business support programme, which includes training, mentorship and peer-to-peer support.
To enter the competition, you can download and complete an entry form at www.sowetobusinessstars.org.za. Entry forms are also available at:
- Soweto Empowerment Zone (Jozi Hub) – Soweto
- Soweto Hotel & Conference Centre – Soweto
- KwaLichaba Chesa Nyama – Orlando West, Soweto
- Disoufeng Lounge – Soweto.
Entries close on Friday, 13 June 2016.
“The City of Joburg celebrates local entrepreneurship and innovation,” says Mayor Parks Tau.
“We launched this competition to find, and also support, promising business owners and entrepreneurs. We are looking for participants who have turned ‘business as usual’ on its head; who are operating – or have ideas to operate – their business in a really innovative way. Innovation is key to unlocking potential, efficiency and better service delivery, and so that’s what we’re looking for.”
Entrepreneurs interested in entering the competition can choose from one of five entry categories:
- Rising Star: aimed at entrepreneurs with new market-ready business ideas.
- Service Superstar: a business that has introduced innovation in terms of the service it delivers or the way it meets its customers’ needs.
- Technovator: a business using some form of technological or process innovation to achieve business success
- Social Revolutionary: this category is for community-oriented businesses that are approaching specific challenges in Soweto in an original way to ensure that the community benefits from its business operations.
- Zero to Hero: a business that has been creative in turning around a low-growth or loss-making business into a profitable venture.
Related: New Ways SMEs Can Find Funding
The winners, one from each category, will be chosen and awarded with cash prizes of R100 000 each. The overall winner will receive and additional R75 000.00
“What’s attractive about the Soweto Business Stars competition is that it offers both financial and business support,” says Shaun Govender, CEO of The Business Place. “One of the biggest challenges faced by entrepreneurs is a lack of funding and business know-how. Initiatives like this provide a leg-up, placing small businesses on the first rung to growth and success.”
For more information on the competition, including entry criteria, and the business support programme, visit www.sowetobusinessstars.org.za, email: firstname.lastname@example.org or call 082 846 5582.