In 2014, Chivas Regal, the world’s first luxury whisky, launched The Venture, a global competition to find and support promising entrepreneurs from around the world who want to Win the Right Way.
Currently in its third successful year, Chivas Regal South Africa can now announce the top 10 finalists of its unique elevator pitch series, hosted by the glamorous Top Billing presenter, Lorna Maseko. The winner will walk away with R350 000 and the chance of a lifetime to represent South Africa in the international version of the Venture 3, taking place in the US.
The competing entrepreneurs are a business-savvy group who want to succeed while making a positive impact on the lives of others. They are:
Describing her business as an “African Etsy”, Caley created a simple digital platform where high-revenue artisans can partner with artisans in rural communities and sell their authentic work internationally. The aim of the partnership is to empower communities, giving them the opportunity to keep 60% of the profits.
2Menzi Mahlobo – Ocean in Motion
Once funded, the sustainable Ocean in Motion will offer systems that simulate ocean conditions anywhere, thus seafood can be bred and sourced inland. Through this solution, Menzi’s business will tackle food security, unemployment and rising food costs.
3Mathieu Coquillon – Mama Money
Designed for immigrants from other African countries working in South Africa, the app’s catch phrase is “Send More Money Home”, and allows the users to send money back home for food, education, medicine and other basic needs at greatly reduced rates.
4Lara Mare van Niekerk – Boma Brands cc trading as Rush Bar
Through Boma Brands cc, Rush Bars are marketed to athletes and those who want to consume “natural” products more often. Striving to uplift South Africa’s communities, Rush Bar sources its supplies locally and teaches impoverished communities to grow fruit trees that could form part of Rush Bar’s value chain.
5Luvuyo Rani – Silulo Ulutho Technologies
Luvuyo’s business is about making communication and teaching technology accessible in emerging and rural communities throughout the Eastern and Western Cape, as well as providing employment opportunities.
6James Their – I-drop Water
This environmentally friendly water purification system gives vulnerable communities access to safe, affordable water. With pilots already in three countries, the system can purify almost all harmful bacteria, and allows retailers to earn income for every unit operated from their outlets.
7Risna Opperman – ROSES FOR U
Through ROSES FOR U, Risna will incubate a number of small farms in the Free State that will distil highly sought-after rose essential oil. Hopefully, the farms will go on to supply a number of industries throughout South Africa and maybe even the world.
8Sizwe Nzima – Iyeza Health
Already making a difference, Iyeza Health is a bicycle-based courier company that delivers essential medications and HIV-testing kits to residents – many of them constrained by age, disability, poverty or time – of Cape Town’s less fortunate areas.
Related: How to Crack Social Entrepreneurship
9Matt Wainwright – Standard Microgrid
Standard Microgrid is a solar-powered energy system that distributes energy without access to electricity. Each utility can service 150 homes, and users only have to pay a flat fee for a month’s usage, enabling them to use the funds for further development.
10Ross Kramm – Mama Mimi’s
Ross is the founder of Mama Mimi’s, a bakery franchise that uplifts small rural communities by baking and supplying bread directly where it is consumed. This model creates entrepreneurs who run the micro bakeries, lowers the price of bread as delivery costs are removed, and creates employment.
These aspiring social entrepreneurs have come far on their personal journeys, however their “ventures” have only just begun. On 26 January 2017 at 18:30, you can catch up on their elevator pitches and see which of the five from top 10 were chosen to present their business plans to an esteemed panel of judges and celebrities, including former CEO of multi-billion rand diversified African investment holding company Shanduka and current Executive Chairperson of Sigma Capital Phuti Mahanyele; IT influencer best known as the founder of fintech company Thumbzup Innovation Stafford Masie; and renowned entrepreneur and content architect Kojo Baffoe.
It is these prominent experts who will decide South Africa’s The Venture 2017 winner, investing R350 000 in their idea and allowing him or her to represent the nation at The Venture Year 3 final in the USA. The winner will be announced on Mzansi Magic.
Shelley Reeves, Marketing Manager Scotch Whiskies at Chivas Regal, asserts that the essence of Chivas Regal’s global campaign Win the Right Way aligns the values of Chivas Regal with the human value of aspiring to use enterprise as a force for good through social entrepreneurship. This innovative form of business, she believes, creates renewed focus on key aspects of social development, such as long-term sustainability and efficiency, by blending traditional business objectives with the South African philosophy of Ubuntu.
“Over the last two years, we have shown our belief in and commitment to this philosophy by awarding USD2 million to start-ups globally that ‘do well by doing good’, because we believe purpose and profit can coexist,” she says.
Watch who makes it to the USA in the televised final on 26 January at 18:30 on Mzansi Magic.
Empowering Township Entrepreneurs
Big drive to bring ideas to life in the townships this Global Entrepreneurship Week.
As part of Global Entrepreneurship Week, Experian teamed up with Rhiza Babuyile and Township Fleva – two organisations responsible for supporting township communities – to assist entrepreneurs in transforming their innovative ideas into thriving businesses.
The annual event ‘Tshogo’, which took place in Tembisa yesterday (Thursday, 15 November), is the culmination of roadshows in Gauteng’s populated townships, such as Diepsloot and Orange Farm. These involved up-and-coming start-ups pitching their business ideas to a panel of experienced judges, including Simon Rudman, Social Innovation Lead at Experian SA.
Twenty winners received funding to the combined value of R280 000 to kickstart their business venture, while our others received marketing packages to equip them – and their ventures – further.
“Throughout the competition we were greatly inspired by each and every one of the entrants. There is definitely no scarcity of bright ideas,” says Rudman. “By keeping our entrepreneurs top of mind and providing continuing support, we can grow the township economy for the greater good of the country.”
Experian is pleased to support Rhiza Babuyile, by providing the JoZi Business Hub participants with career counselling as well as credit and financial education aimed at empowering and equipping entrepreneurs with the financial know-how to manage and grow their business and to make smart credit decisions.
“We believe data has the power to transform lives and societies for the better and our corporate social responsibility programmes pioneer how we use our business skills, products and services to promote financial education, financial inclusion and support small business entrepreneurs.
“These engagements also provide a great opportunity for us to include the entrepreneurs in our solution development process. Their feedback is invaluable in helping to shape products which will hopefully contribute to their success”, adds Rudman.
Global Entrepreneurship Week is a celebration of innovators and job creators who launch start-ups that bring ideas to live and drive economic growth. The JoZI Business Hub’s Tshogo roadshow could not be a better example of this in action.
Call For Applications: Young Entrepreneurs Global Exposure Trips
Closing Date: 30 November 2018
Investec CSI’s Young Entrepreneurs Programme provides South African entrepreneurs from various sectors with global exposure.
Every year Investec, in partnership with En-novate, sends a group of young entrepreneurs from various sectors to specifically selected countries in order to gain global exposure. Each itinerary provides them with opportunities to network and engage with venture capitalists, funders and captains of their specific industry. The aim is for them to gain learning and exposure to innovation, technology and process advancements. The programme also offers networking with subject and sector experts.
Applications for the Global Exposure trips are now open to ALL entrepreneurs – regardless of sector – who meet the criteria. Closing date is Friday 30 November 2018.
The programme itinerary and each trip is customised according to the profiles of the candidates, stage of business and specific sector.
By way of example, Investec recently sent 14 entrepreneurs from South Africa to Berlin to meet people doing Out of the Ordinary things in textiles: https://www.investec.com/en_za/focus/young-entrepreneurs/sa-entrepreneurs-return-inspired.html
Business Lessons From Women For Women: If You Have To Fail, Fail Forwards
Lessons from three young black South African women on how they have turned an idea into a profitable business.
Just 70 years ago, black women in SA were largely regarded as legal minors with no power to open bank accounts, lease property or conduct legal transactions without their husbands’ permission. Some remnants of this legacy remain, but, increasingly, traditional roles are being subverted and women are building businesses. However, women entrepreneurs still remain part of a small minority of thriving business success stories.
The Mastercard Index of Women Entrepreneurs found women in early-stage entrepreneurship decreased by 15.7% in 2018 and only 18.8% of all business owners in SA are women. Suffice to say there’s more to be done, and a lot of it starts with support. When Lebogang Ndlovu, owner of Amare Beauty Hub, announced her intention to start a small business shortly after matric, her parents weren’t happy. She forged ahead despite the lack of support and tenaciously founded three different ventures, which all, unfortunately, failed. She then decided to attend consumer financial training offered by Santam through Mzansi Financial Education. From this training, she learned to ‘fail forwards’ and started her current company – a highly successful Soweto-based spa. She credits the support and mentorship she received as imperative to this success.
That says Tersia Mdunge, Santam’s Corporate Social Investment Manager, is what Santam’s Consumer Financial Education (CFE) is all about, “To grow entrepreneurship, South Africa needs to provide enabling conditions, opportunity and support. As the cornerstone of our economy, it’s pivotal we do so. At Santam, our Consumer Financial Education and Mentorship programme helps young, black entrepreneurs from previously disadvantaged backgrounds to turn their ideas into tangible businesses. We’ve assisted 1 595 individuals so far, and we’re absolutely committed to continuing to do so.”
Although Africa has the highest growth rate of female-run businesses globally, according to the World Bank, South Africa lags behind countries like Ghana.
Here, three women entrepreneurs from Johannesburg share their entrepreneurial journeys and the difference mentorship made:
1. Lebogang Ndlovu, owner: Amare Beauty Hub
Although young, Ndlovu knew she wanted to be an entrepreneur after matric. It was tough convincing her parents to get on-board. “I come from a typical black family background where the norm is to be employed and not create employment.”
After getting her parents on-side, she used the allowance they provided to start a home executive concierge service. That, unfortunately, failed, and she tried two other ventures, which also didn’t last. It was then that she decided to attend Santam’s training. She did thorough research before jumping into yet another business. She realised that, “It does not matter how many times you fail, learn from your mistakes and move along.”
Ndlovu finally found her passion in beauty. She currently runs Amare Beauty Hub in Soweto; a fully-fledged beauty and health spa that focuses on “beauty on a budget”. With her business partner, she’s already considering expanding the business into micro-franchises to empower other women who are interesting in the beauty industry.
2. Nthabeleng Nhlapho, owner: Afro Kids Salon
Before 2016, running her own business was just a dream for Nhlapho, even though she always knew that she was an entrepreneur at heart, because of her family background.
“Getting into business has always been an idea I have toyed with, and after many years of procrastination, I finally decided to take that leap of faith. My dad’s side of the family is quite entrepreneurial as a number of my brothers have started and are sustaining their own businesses. So, in a sense, I think I was born to be an entrepreneur.”
After doing research, Nhlapho saw a gap in the market for an ethnic hair salon for kids. Having a daughter with ethnic hair herself, Nhlapho says, “It became apparent that many mothers like me are uncomfortable with having to take their young daughters to adult hair salons where the environment is not conducive for little budding minds, and stylists do not have the patience with children.”
Nhlapho’s Afro Kids salon is based in Sandton. She opened her door in September 2016 soon after she attended Santam’s training sessions. She gives credit to the mentorship she received and to support from friends and family for her success.
3. Phumzile Nala, owner: Pumzi’s Pretty Petals
Phumzile Nala’s grandmother inspired her love for flowers. “My grandmother loved flowers and used to do flower arrangements at friends’ and family events, which is where I was introduced to flower arrangements.”
Nala attended the Santam CFE workshops in Vilakazi Street in April this year. Her mentor, Martine Solomon, says, “Phumzile started the training with the hope that she would go into public speaking and training and development, however, that changed when she realised her passion for flowers. Phumzile was very helpful during her time in the programme, assisted with the roll-out of the CFE programme as well as CFE training and development.”
Now, Nala is a proud owner of a beautiful flower shop in Roodepoort called Pumzi’s Pretty Petals. In just six months, the business is showing steady growth. Nala’s other mentor, businessman Donnie Koetzee, played an instrumental role in this growth, helping Nala buy stock and get through start-up hurdles. Nala says, “At the beginning, I went through a lot of teething problems and had to take credit in order to keep the shop open.”
Even though Nala cannot compete with big retailers in terms of pricing, she gives her clients a far more personalised and meaningful experience. “We take time to teach our clients about our different offerings, and that is something they will not find in bigger stores.”
Nala found her unique value proposition, which is something that all entrepreneurs need to identify in order to compete. She also gives credit to social media as she makes use of it to advertise her flowers. Her dream is to open four stores in the four major cities of South Africa.
This programme is a direct response from the Department of Treasury for financial services companies like Santam to educate their clients and prospective clients on financial knowledge.
“We went above and beyond what is required of us and turned this into a successful initiative that empowers many to fulfil their dreams. Our programme has been dedicated to empowering our people to becoming financial savvy consumers and entrepreneurs. We have also made it our mandate to focus on risk management and understanding business insurance. Many small businesses do not consider the risks that come with running a business and how they would bounce back if they would be faced by a law-suite for instance;” concluded Mdunge.
For those who would like attend Santam’s Consumer Financial Education, please look out for an invitation on Santam’s website, the requirements are that as a consumer you need earn less than R250 000 and as a business owner, your business need to have a threshold less than R10 million.
Women Entrepreneur Successes5 days ago
Watch List: 50 Top SA Business Women To Watch
Snapshots5 days ago
25 Of The Most Successful Business Ideas In South Africa
Support for Women Entrepreneurs2 weeks ago
11 Quotes On Hard Work, Risk-Taking And Getting Started From Beauty Billionaire Estee Lauder
Entrepreneur Profiles1 week ago
The House That Moladi Built – How Challenging Traditional Building Empowers Local Entrepreneurs
Leading4 days ago
How To, In Practice, Distinguish Between Executive, Non-Executive And Independent Directors And Their Functions
Lessons Learnt2 days ago
How Lorenzo Escobal Bootstrapped His Way To Competing With Titans And Attracting Top-Tier Clients
Entrepreneur Profiles4 days ago
In Touch Media’s Margie Carr Shares How She Made An Out-Of-Home Media Agency A Solid Competitor
Company Posts5 days ago
Smoothie Franchise Opportunity: Puré Frooty Is A One-Of-A-Kind Smoothie Franchise Business