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Local Is Lekker Winning With Chivas And The Venture

Local Top 5 Selected for $1M Social Entrepreneurship Fund.

Chivas

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It is with great excitement to announce Chivas Regal’s The Venture campaign local top five.

The Venture is Chivas Regal’s global search to find and support the most promising aspiring social entrepreneurs who want to succeed whilst making a positive impact on the lives of others.

With over $1 Million in funding and resources, The Venture will enable social entrepreneurs from around the world realise their potential and gain exposure for their business.

We-recommend-tickWe recommend: Government Funding and Grants for Small Businesses

The local social enterprises that have beaten hundreds of applicants are; I’m Not Plastic (INP), Mama Mimi’s, Safe and Sound, Connectmed and CrashDetech.

Sibusiso Shangase, Head of Marketing, Chivas Regal, says: “Year two of The Venture has shown us that South Africa is home to innovative people who are ready to change the communities they live in and beyond. The number of entries received doubled from year one, making the selection process challenging”.

The Chivas Regal judging panel included the following business personalities – Group Chairman of GEM Group Lebo Gunguluza, Executive Creative Director at Joe Public, Xolisa Dyeshana; CEO and President of Ditshego Media, Tebogo Ditshego and Director of the Centre for Entrepreneurship at Wits Business School, Chimene Chetty and media personality and founder of Fix Scholarship, Fikile “Fix” Moeti.

The judging process was moderated by Consilium Consulting Group, South Africa.

Following the success of last year’s competition which saw over 1000 start-ups apply, Chivas Regal is launched the second year of its search to support the most exciting social entrepreneurs around the world.

Last year’s competition awarded businesses tackling diverse social and environmental issues. The local winner in the inaugural launch of the campaign was Lumkani Fire Detection which went on to make top five in the global leg of the competition.

Launched in October 2014, the first year of The Venture saw 16 counties participate. This year’s competition welcomed entries from over 25 countries including Poland, Panama and Peru. Only the most promising start-up from each country will be selected to become a global finalist and have a chance to win a share of $1m in funding.

We-recommend-tickWe recommend: 10 Tips for Finding Seed Funding

All finalists will also take part in The Venture’s Accelerator Week where they will receive training and business advice, as well as mentoring from some of the biggest and most influential names in business. What’s more, each finalist will receive global exposure for their start-up.

Only one of the five local finalists will go to Silicon Valley for the Accelerator Week. The winner will be announced at an exclusive gala event on 14 January 2016 in Sandton, at The Inanda Polo Club.

The finalists in full:

1. I’m Not Plastic (INP):

I'm-not-Plastic-Logo

INP is a ‘plants to plastics’ concept resulting in a single waste stream for both food waste and bioplastic products.

We are truly “Renewable by Nature”. Rigid food packaging is not recycled in SA and is therefore a major contributor towards pollution.

This combined with 10.2 tonnes of food waste per annum sent directly to landfill is not only a logistical nightmare that adds to the carbon footprint, but also creates methane at landfill, a gas contributing more to climate change than CO2.

Follow their Twitter page here.

2. Mama Mimi’s:

mama-mimis-logo

A collaboration between a baker and a businessman, one with a great product the other with a massive vision.

Together creating opportunities and changing lives. Using wood fired bakeries to create baked goods e.g. bread, muffins etc. whilst maintaining a sustainable and very scalable community business. These businesses could create 42 000 jobs in South Africa alone.

There is opportunity for entrepreneurs to become Mama Mimi’s Bakers in their respective neighbourhoods, and there is also a need for agents to service those bakeries in terms of the supply of Mama Mimi’s bread mix on a regular basis. In addition, corporate companies can support the development of neighbourhood bakeries through various means.

3. Safe and Sound:

Safe-and-Sound-company-logo

The business purpose is to connect deaf people with normal hearing people and lifesaving sounds prevalent in our surroundings. We produce a wrist wearable device that picks up human and emergency sounds.

These sounds are then communicated to the user through vibration, LED and lighting. The device also has the capability of alerting the user when the set perimeter in our surroundings has been breached; this then opens up the device to be used for child, car and pet monitoring.

4. Connectmed:

Connectmed-logo

Connectmed is a video based telemedicine platform that allows patients to connect over video. The platform is optimised to work well in low bandwidth areas.

5. CrashDetech:

Crash-Detech logo

With an average of 47 road fatalities per day, South Africa is one of the world’s most dangerous countries in which to drive. Time is the driving factor in case of emergencies and delays in receiving appropriate medical attention often turns out to be fatal.

CrashDetech is a smartphone application that runs silently in the background of your phone.

It automatically detects serious vehicle crashes and reduces emergency response times by pinpointing the crash location. It also ensures appropriate medical attention by providing vital patient information. We’ll know when you need us.

For more information visit www.theventure.com

We-recommend-tickWe recommend: How to Write a Funding Proposal

Chivas are looking for exceptional start-ups that use business innovatively to transform communities and solve global challenges. Whatever it is, if it's brilliant and can create real, positive change then Chivas want to hear from you.

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The Alfa Romeo Stelvio – More Than An SUV

The All-New Alfa Romeo Stelvio draws inspiration from the legendary mountain pass linking Italy to Switzerland, with 48 hairpins in quick succession.

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The All-New Alfa Romeo Stelvio draws inspiration from the legendary mountain pass linking Italy to Switzerland, with 48 hairpins in quick succession. The Stelvio pass is widely seen as one of the most beautiful and engaging roads on the planet.

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Enhance Your Entrepreneurial Flair With An Online Postgraduate Diploma From The University Of Pretoria

The Department of Business Management at the University of Pretoria, a leader in business management education, will be offering an Online Postgraduate Diploma in Entrepreneurship for the 2018 academic year with some seminars to enrich your action learning experience.

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The Department of Business Management at the University of Pretoria, a leader in business management education, will be offering an Online Postgraduate Diploma in Entrepreneurship for the 2018 academic year with some seminars to enrich your action learning experience.

The programme content focuses on the start-up processes, creativity and opportunity recognition, business planning and marketing as well as financial management. Furthermore, the programme emphasises entrepreneurial growth and small business policy development with relevance to the enabling environment.

Who should enrol?

The programme is designed for pre-, nascent and start-up entrepreneurs who want to attain an advanced degree in entrepreneurship. It is also intended for individuals who work in an entrepreneurial environment and are involved with small business policy development. Although many students in the programme have academic credentials in entrepreneurship or business management, the programme is also appropriate if your education and/or experience may be in other disciplines (e.g. engineering or medicine).

Admission requirements

A relevant bachelor’s degree.

Related: This Enterprises UP Expert Explains Why Start-Ups Really Fail

Additional programme information

The duration of the course is one year. The language of tuition is English and the course will be presented in two blocks by means of the blended learning method (70% online and 30% contact sessions). Students need continuous access to the internet to complete the course.

Course Contents

Overview of modules for Block A

  • Ideation-to-market: Starting up
  • International Business Venturing
  • Venturing Strategy Building (Part 1)

Overview of modules for Block B

  • Entrepreneurial Marketing
  • Entrepreneurial Supply Chain Management
  • Entrepreneurial Finance
  • Venturing Strategy Building (Part 2)

Click here for more information.

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Win A Business Makeover With Retail Capital To The Value Of R250 000

Retail Capital is giving SMEs an opportunity to win a makeover to build their brand with an investment of R250,000.

Retail Capital

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Retail Capital is giving SMEs an opportunity to win a makeover to build their brand with an investment of R250,000. During the summer campaign, SMEs are encouraged to share the vision of how they would like to see their business grow, and led by a team of experts, Retail Capital will work with the winning SME to help make their vision come true.

While South Africa’s economy is not faring well, Retail Capital CEO Karl Westvig remains optimistic about the country’s retail and hospitality sectors. “We are seeing some green shoots, with an increase in turnover in these sectors – starting from the end of September. Economic conditions remain very tough, but businesses seem to be trading well into October and we’re hoping this continues into the festive season trading.”

According to recent statistics from Statistics South Africa (Stats SA), South Africa’s retail sales rose by 5.5% year-on-year in August 2017, following a downwardly revised 1.6% gain in the previous month and above market expectations of 2.3%. It is the biggest gain in retail trade since August of 2012.

Related: How To Raise Working Capital Finance

“I do believe that these sectors will see an improvement during the summer season. But, key to this will be for small business owners to ensure that they have the right amount of stock, adequate cash flow, as well as other systems in place to meet the ever-changing needs of customers,” says Westvig.

For many small businesses, however, continually adapting to market changes requires cash injections that they don’t often have.

The prize includes the following:

  • Business plan/consulting
  • Marketing strategy
  • Design and branding
  • Website and social Media and,
  • R50k capital to gear your business.

Westvig explains that the summer campaign tagline ‘Your Vision. Our Belief’ really speaks to why Retail Capital first opened its doors. “Our goal is to see the potential of small businesses and to work with them in making these become a reality.”

He adds that the idea is not to simply help one business during the campaign either. Westvig points out that one of the biggest challenges that small businesses face in the sluggish economy is enough foot traffic through their doors. “Generally, the main hurdle in creating brand awareness and projecting credibility of their establishments boils down to establishing a strong online presence.”

“One of the first ways that South Africans identify a business or service provider that they want to work with is over social media – even in a country where the digital divide has traditionally separated the technological haves from the have-nots,” he says.

He explains that companies that don’t have a social media presence are running the risk of being overlooked entirely. “They may attract customers in their own community with signage or word of mouth, but to grow a business, they need to expand their reach – and that’s where social media comes in.”

But, the reality is that resource and time constraints mean that for many SMEs, social media is not prioritised. “Unfortunately for the average small business owner, they don’t have the time or expertise to get connected.”

Understanding the importance of having an online presence, Retail Capital has also committed to developing the digital presence of all campaign entrants. This would include setting up each entrant’s digital presence on platforms such as Google, Facebook, Twitter, Tripadvisor, Zomato and any others that may be relevant to their specific market or industry.

“As a partner to many SMEs in South Africa, we are continually looking at new and innovative ways to help provide them with the much-needed support in order for them to realise their visions. SMEs need to be supported with initiatives like targeted education and training, supportive legislation, and funding opportunities that collectively help them grow our national economy,” says Westvig.

Related: 6 Great Tips For A Successful Shark Tank Pitch

Who we are and what we do:

“More than R1.25 billion has been extended to a range of businesses including food trucks, hair salons, restaurants, spas and franchised retail stores. Many of these businesses have not been able to raise funding in any other way, other than to go to unscrupulous lenders,”says Karl Westvig, the CEO Retail Capital, a company that provides working capital with the help of innovative lending technology.

“We have also estimated that for every R160 000 we lend, we create a new job. This means that 625 jobs have been created purely by enabling small businesses to get the funding they need for working capital requirements or expansion opportunities.”

Retail Capital’s system, which enables it to advance funding to small businesses, based on real time information on credit card transactions, is providing a new funding alternative to entrepreneurs who have previously been turned away by banks. Because it is able to get actual sales information, it can approve funding immediately, and allow for flexible repayment options based on sales cycles of the particular businesses it is funding.

“This creates significant opportunity for small business owners to focus on their business and grow volumes or look for expansion opportunities rather than spend their time frantically trying to repay debt or keep the business alive after debt repayments have eaten away at any cash reserves they might have had.”

Retail Capital funding is repaid by it taking a percentage of a business’s recorded credit or debit card sales, with repayments fluctuating in line with their business cycle. This has the effect of ensuring that it isn’t overburdened with debt.

“In the past six years since starting the business, small businesses have had the benefit of R1 billion in funding they would have been unable to get through traditional channels,”says Westvig.

Against the backdrop of recessionary conditions in South Africa, Retail Capital’s client information reveals growth in informal sector turnover across a number of industries.

“We believe that growth in the informal sector is outstripping that of the formal sector,”says Westvig.

As a large proportion of the businesses it funds are women- and black-owned, there is evidence that entrepreneurs who have previously been excluded from access to finance are now enjoying success now that their access to finance problem has been solved.

Win A Business Makeover with Retail Capital

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