SAB’s flagship enterprise development programme, SAB KickStart will embark on a month-long recruitment campaign this Youth Month, using a new innovative #StartupTruck that will travel across the country on a youth entrepreneurship drive to find South Africa’s promising young entrepreneurs.
The campaign, targeted at entrepreneurs and innovators between the ages of 18 and 35, will call on those with business ideas and existing start-ups to apply for the SAB KickStart Ignite and Boost programmes, respectively.
Entries into the two programmes open on 1 June and close on 15 July 2016. Successful applicants stand the chance of winning a share of R9-million in business development support and incubation.
The #StartupTruck will make its way across 10 identified locations in each province beginning in Tshwane, Gauteng on Friday,6 June 2016 and ending in Phillipi in the Western Cape on Tuesday, 24 June 2016.
SAB KickStart Ignite applicants with innovative business ideas are encouraged to visit the #StartupTruck locations and pitch their ideas to a panel of judges. Those with existing qualifying businesses and entering SAB KickStart Boost are invited to submit their entry forms at the #StartupTruck and attend a free workshop on how to improve their businesses.
At each stopover, the #StartupTruck will partner with the Small Enterprise Development Agency (SEDA), the National Youth Development Agency (NYDA), the Companies and Intellectual Property Commission (CIPC) and start-up development organisations, including The Hookup Dinner and Durban Innovation Hub. Together, all partners will offer business support interventions aimed at assisting with accelerating the growth of start-ups. These interventions include pitching and product ideation; coaching aspiring entrepreneur launch their ideas; master class sessions focusing on business development topics such as start-up compliance and strategic growth planning.
“#StartupTruck is entrepreneurship support on wheels. It is designed to offer and deliver an accessible platform that assists young entrepreneurs to develop their business ideas and grow their small businesses. We are excited about the opportunity, together with our partners, to offer comprehensive support, resources and more importantly, increase access to the unlimited possibilities that entrepreneurship offers,” says Mpho Sadiki, SAB Head of Sustainability.
Over the past 21 years, SAB KickStart has remained focused on investing and supporting young entrepreneurs in building sustainable and economically viable enterprises which are able to make a high impact contribution towards reducing poverty through job creation.
Entrepreneurs interested in entering either SAB KickStart Boost and SAB KickStart Ignite can direct queries to one of the following channels:
- Website: www.sabkickstart.net
- Tel: +27 11 881 8493
- Email: email@example.com
- Twitter: @SABKickStart
- Facebook: SAB KickStart
To Enter SAB KickStart
What We Are Looking For:
Entries must be an idea of a commercially viable product aligned to the Manufacturing or ICT Industry and makes use of one or more of the following materials – 3D printing, leather, wood, metal, laser and vinyl cutting, software design programs including CAD/CAM, and electronics including development of Internet of Things technology with Arduino and Raspberri Pi.
How to Enter:
Aspiring entrepreneurs with ideas must come and pitch their idea live at each of the following locations during the #StartupTruck tour:
- 06 June – Tswane University of Technology Soshanguwe, Aubrey Matlala & College Road
- 07 June – University of Limpopo Turfloop Campus, Science Education Centre Building
- 15 June – University of Johannesburg Soweto Campus, Chris Hani Road Soweto
- 20 June – Central University of Technology, 1 Park Road, Bloemfontein
The competition format will see eligible participants given just two minutes each to pitch their concept or idea to a panel of industry experts. The pitch must convince the panel that their idea or concept is good enough to develop into a viable start-up business.
What is on offer:
Successful pitches will be invited to return for a one-day Bootcamp the following day to assist with the refinement of the business concept/ idea. Following this, a select few will be invited to participate in a 6-month incubation, where they will receive business mentorship, business training, monthly stipend and R1.2million seed grant capital to launch their start-ups.
Candidates should demonstrate a commitment to the process of incubation and a willingness to invest effort into developing their product and starting a business entity with the appropriate infrastructure provided by SAB KickStart Ignite.
During incubation, the selected candidates will have the opportunity of turning their envisioned ideas into commercially viable products through the support of resident engineers and business trainers. They will evolve through technical and business mentorship, peer learning, networking and the use of advanced technology infrastructure.
To Enter SAB KickStart Boost
What We Are Looking For:
The focus of SAB KickStart Boost is on core industries identified at national level by government as having high economic multiplier. The core industries and sectors are Agriculture and Food Processing, Renewable Energy, Mining and Minerals, Construction, Health, ICT, Science and Electronics, Automotive, Transport, Chemicals, Plastics, Pharmaceuticals and Cosmetics, Tourism, Arts and Crafts, Metal Fabrication, Textiles, Clothing and Footwear.
Eligible businesses should also align to the following criteria:
- Operational for a minimum of 12 months and not more than 5 years
- Post revenue stage (sales made and concept proven)
- Generating less than R5 million in turnover per annum
- Employ a maximum of 15 employees (temporary or fulltime or a combination)
- At least 51% black owned and managed
- High growth potential that is scalable, with a sustainable competitive advantage.
How to Enter:
Entries into the competition close midnight on the 15 July 2015, and SAB will invite successful candidates to a selection interview in their province.
- Apply online or download the application form on www.sabkickstart.net
- Collect a form at any SAB site (located on the website)
- Come and collect a form at any of the #StartupTruck locations during June.
What is on offer:
The programme offers successful participants a combination of support including intensive business skills training, tailored business development support, mentorship and R5 million shared low interest seed capital loan.
Global Guide For Entrepreneurs, Innovators Launches In Johannesburg
Startup Guide partners with SAP Next-Gen, Tshimologong Precinct to bring global guidebook to Johannesburg innovation ecosystem; calls for nominations.
Calling all entrepreneurs, accelerators, innovators, co-working spaces and experts in the City of Gold: Startup Guide, the leading global guide for start-ups in high-growth innovation hubs in Europe, the US and Middle East, is open to nominations in Johannesburg.
Founded in 2014, Startup Guide is a creative content and publishing company that produces guidebooks and tools to help entrepreneurs to connect to communities and resources in the leading start-up cities around the world. Its global footprint covers some of the most innovative and thriving start-up ecosystems in the US, Europe and the Middle East, including those of London, New York, Berlin, Tel Aviv, and Stockholm. After launching in Cape Town earlier in the year, Startup Guide now moves to Johannesburg.
According to Sissel Hansen, Founder and CEO of Startup Guide, South Africa’s largest city is emerging as a key innovation hub for start-ups.
“Johannesburg has recently emerged as a growing ecosystem for start-ups and entrepreneurs in Africa, particularly in the tech industry. We’re thrilled to have the opportunity to create a comprehensive guide of resources for aspiring founders wanting to do business in South Africa’s largest city.”
Startup Guide Johannesburg was launched at Wits University’s Tshimologong Precinct, one of Johannesburg’s newest high-tech addresses in the vibrant inner-city district of Braamfontein. Tshimologong, which means “new beginnings” in Setswana, focuses on the incubation of digital entrepreneurs, commercialisation of research and the development of high-level digital skills for students, working professionals and unemployed youth. Lesley Williams, CEO of Tshimologong Precinct, says: “South Africa is fast-becoming a go-to source for innovation, especially in the tech sector. We believe the introduction of a dedicated resource for the startup ecosystem in Johannesburg will unlock significant opportunities for innovation hubs such as ours to more easily connect with entrepreneurs, experts and other roleplayers, ultimately providing a more supportive environment for growth.”
Startup Guide has partnered with SAP Next-Gen, a purpose driven innovation university and community for the SAP ecosystem enabling companies, partners and universities to connect and innovate with purpose linked to the UN Sustainable Goals for Development. Ann Rosenberg, Senior Vice President and Head of Global SAP Next-Gen says:
“We strive to connect digital innovators in an open innovation community to drive the future success and growth of industries through the use of technology. As we have witnessed in other high-innovation cities around the world, the introduction of knowledge resources – supported by opportunities for collaboration and partnership in an open ecosystem – enhances the overall success of entire start-up communities. Johannesburg’s world-famous energy and business acumen will greatly benefit from the launch of Startup Guide Johannesburg and the support of industry partners, including SAP Next-Gen and the Tshimologong Precinct.”
Cathy Smith, Managing Director of SAP Africa, adds that the partnership with Startup Guide aligns well with the company’s commitment to the UN Sustainable Development Goals. “As an organisation we are committed to achieving the high ambitions set out by the SDGs. However, it is virtually impossible to do so alone: the concept of partnership with likeminded purpose-driven organisations and initiatives is vital not only to realising the SDGs but to foster a greater and more inclusive innovation ecosystem in Johannesburg and across the African continent.”
Nominations for the Johannesburg edition of Startup Guide are now open. If you know a start-up, entrepreneur, programme, space, accelerator, or experts and would like to see them featured in the book, please visit https://startupguide.com/shop/startup-guide-johannesburg and submit your nomination.
Aspirations For SMMEs In South Africa
Research released earlier this year, revealed that there are only 250 000 formal SMMEs in South Africa.
Entrepreneurs who have started up a business over the past 10 years have done so in an environment that has been largely negative, with slow economic growth and an unstable political landscape. “So, all in all, a very difficult setting to launch, grow or even maintain a business,” says Bizmod MD, Anne-Marie Pretorius.
Pretorius says that many entrepreneurs who operate in South Africa can be forgiven for often wondering if the slog is worth it. Yet they continue – despite economic uncertainty, strikes, retrenchments and downscaling. “It is this tenacity that sets entrepreneurs apart, and I often wonder how much more successful they would be in an easier and more supportive environment.”
Below, Pretorius shares her ideal pro-entrepreneur outlook for the future:
- Greater policy certainty on all key government policies from land reform to regulations surrounding labour broking.
- Being able to do away with bad policy faster. An example of where this did not happen was in the changes of visa requirements; leading to an unnecessary dent in our tourism industry, an industry that should be targeted for growth.
- Lower compliance requirements for companies with a turnover under R50 million. The cost of compliance for smaller enterprises is significantly higher in comparison to their income and the cash they have available. Smaller companies need simpler frameworks where compliance is required. A portal similar to SARS e-filing, which makes compliance across various pieces of legislation clear and simple, would be ideal.
- The Labour Relations Act is a key piece of legislation that has done a lot to protect the rights of the employee. It has attempted to balance the power relationship between employee and employer. Some innovation is however required in labour practices, allowing for mutually beneficial flexible working relationships that keep pace with the changing work environment.
- Buy small, buy South African! A framework whereby large corporations and government would have to allocate a certain minimum percentage to buying from smaller local companies. There are encouraging signs that this is happening more, however this is still not an ingrained practice. In addition, consumers should be more informed on what items are South African produced, in order for them to be encouraged to purchase locally.
- Easier access to funds enabling entrepreneurs to grow their businesses. There are currently a few options available, but all of the options require significant governance and red tape. Whilst this is understandable from the lenders perspective, it does hamper the agility and growth of companies.
- Make good financial governance aspirational, attractive and easily accessible.
- The process for tenders to be corruption free and fair, enabling more companies to add value.
- Pay SMME’s on 30 days or less. Enormous pressure exists on smaller companies when not paid on time. They simply do not have the cash flow to carry a debtor’s book of 90 days and this inevitably hampers their growth.
- Tax SMME’s at a lower tax rate. Profit tax should be lowered in order to drive entrepreneurship.
- Creating a platform that makes it simpler to employ young individuals with potential and create support programmes for SMMEs to upskill them. There is a significant financial and time investment required to train a young person, which can make SMME’s sometimes wary to do so.
“If we are able to make only some of these ideals a reality, there is no doubt that we would see economic growth, entrepreneurial growth, and more employment opportunities,” concludes Pretorius.
Related: A – Z Easy Small Business Ideas
South African Students Win R50 000 In The Universities Business Challenge
Students from Mangosuthu University of Technology beat 500 students from 13 different universities across South Africa.
The Overlings from Mangosuthu University of Technology are the 2018 winners of Cognity Advisory’s Universities Business Challenge (UBC), sponsored by General Electric (GE). The winning team of four students are walking away with R50,000 to turn their business idea into reality.
Launched in July this year, the UBC has seen 500 students from 13 different universities across South Africa participate in a business simulation competition designed to develop entrepreneurship skills.
When the competition launched, all teams were challenged to form virtual companies and to virtually manufacture and sell bicycles.
The final 10 teams were from the University of Limpopo, Mangosuthu University of Technology, Vaal University of Technology, University of KwaZulu-Natal and North-West University.
During the two-day final, the teams played six rounds of simulations. Each simulation gave the teams a chance to re-evaluate their progress and better certain areas that needed improving. The winning team realised during one of their simulations that in order to maximise profits they would need to introduce two new products and market it differently from their initial product. They paid special attention to their customer’s needs.
The aim of the UBC was designed to tackle South Africa’s high level of youth unemployment. Statistics South Africa (Stats SA) that South Africa’s official unemployment rate increased by 0.3 of a percentage point to 27.5% in the third quarter of 2018.
Nkosinathi Sokhulu from the winning team said, “Even though we didn’t have a great presentation we made the most profit. This experience taught us a lot about ourselves and business. Most of the decisions that we made came from serious debates. We learnt that market research is crucial when starting a business. We learnt that marketing starts and ends with the customer.”
“Based on this market research information we realised that it was important for us to introduce two new products and this, in addition to the main product we were selling, helped us to maximise profits. We saw an opportunity to add more products and it paid off” said Mbali Tshozi.
Tope Toogun, development advisor and CEO of Cognity Advisory said, “All the teams showed tremendous promise and I was very impressed by their levels of engagement with one another and their tenacity.”
“We really want to ensure that students are equipped with the necessary skills to not only start a business but to run it effectively. While we have selected one winner, our hope is that each team has benefitted by having learned the skills needed in the workplace.”
“The competition is designed to develop the ‘soft skills’ that are important for those wanting to set up their own business or simply be successful at work. With rising unemployment and ongoing talent shortages, having these skills is crucial for those wanting to get a job.”
The UBC, now in its second year in South Africa, will continue into its third year in 2019 and will run as the Africa Enterprise Challenge (AEC).
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