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Young Black, Female Owned Businesses On The Fast Track To Success

AccelerateHer programme concludes with lasting impact.

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The inaugural Seed Academy/WDB AccelerateHer programme, a three-month business accelerator for female entrepreneurs, sponsored by Shell Downstream South Africa concluded by notching up a string of successes for young black female owned businesses.

The fully-funded AccelerateHer programme provided 25 black female entrepreneurs with an intensive programme including developmental workshops, high impact business development support and mentoring from industry specialists and experienced entrepreneurs to fast track their development.

Seed Engine CEO, Donna Rachelson notes that the rigorous 90-day programme has seen an impressive number of early successes for participating entrepreneurs with four successfully pitching to new clients, three increasing turnovers and expanding their client base, while one business secured a contract with a world-leading diamond company and a leading glass manufacturer.

Related: 10 Dynamic Black Entrepreneurs

Another participant in the programme received a proposal request from a major African food retailer, two fledgling businesses have since become industry association members and a further two successfully secured the required industry licenses vital to their continued operations.

“The strength of the AccelerateHer programme is that it can be customised for women entrepreneurs at all stages of development from the initial ideation phase, to enterprise development and supplier development,” explains Rachelson. 

In addition, the AccelerateHer programme creates a pipeline for the WDB Seed Fund, an impact fund that provides funding to growth stage businesses with a particular focus on black women and youth owned businesses.

Through the inaugural programme, one business has been selected to be put forward to the Fund. Faith Khanyile, CEO of WDB Investment Holdings says AccelerateHer is a great vehicle for WDB to achieve its objective of advancing female entrepreneurship.

“Through AccelerateHer we are able to create a pipeline not just for the WDB Fund to fund some of these outstanding entrepreneurs but also benefit the economy as a whole,” says Khanyile. 

Rachelson adds that psycho-social problems of female entrepreneurs are well-known and South Africa is no different. She says much more needs to be done to provide holistic financial and non-financial support to enable the growth and development of female entrepreneurs as a matter of urgency.

Related: Attention Black Entrepreneurs: Start-Up Funding From Government Grants & Funds

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“Black women business owners still face immense obstacles and it’s these women that hold the key to unlocking economic growth in the country and more needs to be done to foster female entrepreneurs.” This is just one of the reasons why this specific AccelerateHer was developed according to Rachelson:

“We wanted to look for black, female entrepreneurs aged between 18 and 35 with a business idea aligned to Shell’s value chain. They had to be worthy participants in the ideation phase that would like to see their idea become a registered business within 90 days. The business case had to be a solvable problem with a viable solution and a solid business plan. The flare, quality and aptitude of the founder was also taken into account.” 

Social Investment Manager at Shell South Africa, Ntobeko Mogadime explains that Shell was a proud sponsor of AccelerateHer because of its strong focus on women entrepreneurs as only one in three South African businesses are owned and run by women.

“I’m impressed with the relationships we’ve formed in a relatively short space of time and the passion and dedication exhibited by all involved and we look forward to continuing these relationships to make sure we help more women in the country succeed in starting and sustaining viable businesses,” she says.

Rachelson says that throughout the high-impact 90-day programme all entrepreneurs showed incredible determination, tenacity and dedication. “Nurturing great business ideas to full fruition is just one aspect of the programme. The other vitally important outcome is keeping the spirit of black women entrepreneurs alive and thriving in our communities and providing the ongoing support needed for success which will make a true and lasting impact on South Africa’s economy.”  

Related: Enterprise Development Programmes For Black Entrepreneurs

She says that the programme drew over 900 entries, 400 of which came from other African countries: “Producing tangible results is first and foremost, and the AccelerateHer programme for Shell has generated some excellent results. The ethos of this programme is to take ideas and develop them into viable businesses. AcceleratorHer has very successfully, in only 90 days, developed real business opportunities.” 

The inaugural AccelerateHer also concluded with the announcement of its top achievers. Geneva Kuypers of Geneva Projects & Supplies was awarded R 50 000 towards her aspiring business sponsored by WDB Investment Holdings.

The winner was joined by runners-up Lelo Rammitloa of Got Paper and Siphumelele Shabalala owner of Krypton Industrial Services who each received R 25 000 in funding from Shell to elevate their businesses towards sustainable growth.

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Bonang Matheba Announced As 2018 AWIEF Awards MC

AWIEF has announced multi –award winning radio host, TV presenter and style icon, Bonang Matheba as the 2018 AWIEF Awards MC and host.

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Bonang Matheba, affectionately referred to by fans as Queen B, has firmly positioned herself as Africa’s most sought after entertainment personality and SA’s number one social media darling.

With just three weeks from recognising, honouring and celebrating women entrepreneurs and business-owners in Africa for their innovation, excellence and contribution towards economic growth and social development, AWIEF has also announced songstress, BUCIE as the music entertainer for the night.

40 Finalists out of more than 1350 nominations were revealed for the AWIEF Awards last month. Winners will be announced at The Westin Hotel in a five-star gala dinner on 9th November 2018.

Tickets to the awards evening are selling fast. To secure your seat, please click here.

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Things Schools Need To Stop Doing To Grow Entrepreneurs

Here are 8 things that would make a significant impact on generating enterprising behaviour.

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It is no secret that the current structure of the education system was designed in an entirely different age to achieve economic outcomes that are no longer viable due, in large, to the rapid innovation and adoption of technology.

But if we are to hope to help President Ramaphosa implement his vision for entrepreneurship as stated in the SONA 2018 address as, “The establishment through the CEOs Initiative of a small business fund – which currently stands at R1.5-billion – is an outstanding example of the role that the private sector can play. Government is finalising a small business and innovation fund targeted at start-ups,” we need to change how and what schools are teaching for this to be realised on a large scale.

Here are 8 things that would make a significant impact on generating enterprising behaviour:

1. Stop teaching kids using one or two teaching methods

Typically, teachers have defaulted to talking, reading and some visual aids to impact knowledge to learners and those children that don’t learn using these primary methods are at a disadvantaged and are often labelled as challenged. There are at least 6 different ways in which people learn, and entrepreneurs often fall into the lesser known ones. By blending methodologies that include interpersonal, kinaesthetic and intrapersonal with the more traditional ones, entrepreneurs will learn more effectively.

2. Stop Rewarding Conformity

Maybe it comes from a fear of anarchy or lawlessness, but the stringent rules that exist in schools punish children for exhibiting individualism and reward children for staying in line. Quite literally. This unwavering adherence to the rules without question, breeds thinkers of the same calibre and releases into the world children that cannot function without set structures that they must conform to when they actually need to be creatively problem solving in order to make a mark for themselves.

Related: Spark Schools: Adapting At The Speed Of Scale

3. Stop Measuring Memory

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How well a child can retain the dates, figures, theories or equations does not indicate the measure of a child’s intelligence. It only indicates how well their memory works and how adept the learner is at recalling what they have read or been taught. Remembering, according to Bloom’s Taxonomy, is a lower order thinking skill. Instead, let’s measure critical thinking, interrogation of ideas, application of thinking across contexts.

4. Stop Being a Teacher

When the world relied on a central person as the curator of knowledge, the world needed teachers. They were idolised and hailed as a custodian of growth and development due to the fact that they knew more about their subject than anyone else in society.

Today, the internet is the purveyor of information, a teacher if you will, and children no longer need to be taught the information but what to do with it. So long as children can read, the job of person at the front of the class is to educate not to teach.

5. Stop Running a Factory

From the uniforms to the desks to the bell that signals the start and end of lessons and the allotted amount of time dedicated to eating and going to the bathroom, schools are churning out citizens primed for factory work. The production line mentality has been conditioned into our children so much so that with the entry of technological automation and the removal of the human element in these mundane, routine tasks, we make them immediately redundant to the world.

6. Stop Labelling Every Disruptive Child as ADHD/ADD

As an educator myself and now an entrepreneur, I recognise the exhausting and relentless burden that our school-based teachers bare. They are weighed down with administration and parental expectations all whilst trying to navigate an education system that is increasingly deficient. Any child that does not learn in the usual manners and requires more attention or additional stimulation by non-traditional teaching methods.

If, as a country, we are dedicated to changing the current economic outlook not just for ourselves but for those that will inherit this legacy then the systems that shape our thinking must be changed too. Entrepreneurial thinking and action is discouraged and punished in our current education system and only once children leave behind the 12 years spent at school can they begin to unlearn this way of mental conditioning and become active citizens.

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Chivas Venture Calling On South African Start-ups To Win A Share Of $1 million

South African applications for the Chivas Venture 2019 Now Open!

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Today Chivas Regal announced the launch of the Chivas Venture 2019 – a global competition that gives away $1 million in no-strings funding every year to the hottest social start-ups from around the world.

The Chivas Venture provides a global platform for innovative enterprises that are using business to solve an array of social and environmental issues – and today marks the opening of the South African applications. 

Since the competition’s launch in 2014, Chivas Venture-supported enterprises have enriched the lives of more than 1 million people in over 40 countries, across six continents.

Just as Chivas blends together whiskies to create award-winning Scotch, the Chivas Venture champions entrepreneurs who blend profit and purpose. Chivas’ belief in blending ambition with generosity, and in using success to enrich the lives of others, was instilled in the 19th century by founding brothers James and John Chivas. Today that philosophy is kept alive not only through award-winning Scotch, but also through initiatives including the Chivas Venture.

Richard Black, Global Marketing Director for Chivas, said:

“At Chivas we believe that blended is better – in life, business and Scotch – and the 100 finalists we have supported to date have proved this, finding the right blend of profit and purpose in their ventures. Since taking part, finalists have reported saving 8 million trees from deforestation, providing 24 million litres of safe drinking water to those in need, and funding 75,000 days of education for women and girls – and that’s just a few examples. The Chivas Venture is continuing to have a global impact and we are proud to be investing another $1 million for 2019.”   

Related: Venture Capital 101: The Ultimate Guide To The Term Sheet

Applicants in each participating country will compete in local heats, with the South African winner flying to the United Kingdom to take part in an exclusive Accelerator Programme. Hosted by The Conduit – a new London establishment that serves as a home for a diverse community of people who are passionate about social change – the intensive training programme will give the global finalists the chance to hone their business and pitching skills.  

Following the Accelerator Programme, the allocation of the first $100,000 of the fund will be put into the hands of the public with three weeks of online voting. The Chivas Venture 2019 will then culminate in a series of high-stake pitches at the Global Final in Europe, where the finalists will battle it out for the remainder of the $1 million fund.

Radley Connor, Marketing Manager for Chivas Regal SA says, “The Chivas Venture is an amazing platform for South African social entrepreneurs to attract investment and gain global exposure. The competition rewards and celebrates individuals whose purpose is to make a positive difference to society. If you have a great idea, that meets the requirements, we encourage you to enter.”

In 2017, innovative South African water company I-Drop water placed third in the global finals, walking away with close to R1 million in funding. Since winning, founder James Steere has received interest from investors globally.

Clement Mokoenene is the 2018 South African winner and the creator of the Vehicle Harvest Energy System (VEHS). His business is able to generate electricity at a much lower, affordable cost than coal-fired power stations which South Africa currently relies on. The system works by installing an overlay on the existing road to extract the pressure and transferring it to the side of the road, similar to a wind turbine. Mokoenene says a 1km highway stretch could generate enough energy to supply the entire South Africa.

To apply for the Chivas Venture 2019 and find out more about why blending profit and purpose is better, visit the Chivas Venture website.

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