January 2019, the then Minister of Higher Education, Minister Naledi Pandor indicated that the Department of Higher Education and Training will support President Cyril Ramaphosa’s bold plan to create 257 000 job per annum by promoting entrepreneurship in the post-school sector.
Events such as the annual Poster and Pitch Competition is a catalyst for the establishment of a hatchery of entrepreneurial ideas which support the vision of increasing youth participation in entrepreneurship. False Bay TVET College is intentional about instilling a culture of entrepreneurship amongst the student population, getting them to think differently about entrepreneurship as a career of choice.
The Youth Entrepreneurship Expo and Poster & Pitch Competition creates such a platform for students and graduates to explore and showcase their business ideas. Each idea is evaluated against its economic potential and transferred from the hatchery to incubator for market penetration.
This year, seventy-five (75) students exhibited their ideas to secure seed capital to start their businesses. Growing on the previous year’s event success, participants included emerging SMME category as well as existing SMME category. The sponsors provided 5 prizes at R10 000 each for the businesses with an economic compelling market potential.
Organised by the Centre for Entrepreneurship Rapid Incubator (CfERI) under the slogan, Start, Launch, Build your Business with us. The event was hosted at the College’s Khayelitsha Campus and brought together the entrepreneurial ecosystem which support aspiring young entrepreneurs with both financial and non-financial support.
Organisations such as SEDA, SEFA, IDC, Chamber of Commerce, Kuba, First National Bank, GCIS, Department of Labor, Services Seta, TSIBA and Future Managers participated in the event. These organizations provided their skills and expertise to evaluate and adjudicate 75 posters presented in the hatchery. The following 5 businesses each won R10 000.
The adjudicating stakeholders had a difficult task deciding the winners.
The top 3 winners from emerging concepts were:
1st Position: Haadin Waggie
Adventures 4U: Manufacture, sell and hire out Kayaks.
2nd Position: Vivian Boyce
Econo Building: To combat the enormous challenge of township being plaque with fires. Design and manufacture recycle building material which is fire retardant.
3rd Position: Siphesihle Ngidi
1994 Flavoured by design to set up a street food restaurant
Our top 2 winners from existing businesses:
1st Position: Tenchwill Solomons
Born Free Construction focusses on providing specialist waterproofing and home renovations services.
2nd Position: William Raophala
Nala Juice Company- producing 100% natural juice