Four student entrepreneurs from the innobiz DUT Centre for Entrepreneurs emerged triumphant at the recent Youth Innovation Challenge 2024 brought by the Young African Entrepreneurs Institute (YAEI) in collaboration with ABSA, and innobiz DUT in a drive to handpick five emerging entrepreneurs in KwaZulu-Natal.  

The programme has seen both YAEI and Absa crisscrossing the country seeking to select 30 young and enterprising entrepreneurs from across South Africa for their 12 month long Emerging 30 entrepreneurship incubation programme, with five budding entrepreneurs selected from each province.  

The DUT quartet of Nompumelelo Ngcobo, Nkululeko Sibeko, Ortega Msomi, and Mpilwenhle Mthethwa nabbed four of the five spots in the KwaZulu-Natal province from a pool of over 70 student entrepreneurs and budding entrepreneurs from the public.  

The Young African Entrepreneurs Institute and Absa Youth Entrepreneurship Tour 2024 landed in Durban where in collaboration with the innobiz DUT Centre for Entrepreneurship and Innovation over 70 student entrepreneurs and young business owners from the wider public received an opportunity to pitch their businesses to a panel of judges in the Youth Innovation Challenge. 

On an exciting first day, the entrepreneurs were warmly welcomed by Mr. Ntandoyenkosi Mpofana, innobiz DUT Centre Stakeholder, Communications and Marketing Manager, with the innobiz DUT Centre, under the office of the DVC: Research, Innovation and Engagement Professor Fulufhelo Nemavhola, playing host to the programme on the first day of the KZN leg of the Youth Entrepreneurship Tour 2024 held at the ML Sultan campus. 

“DUT has got a statement of intent which talks about our creativity and innovation to drive and promote adaptive graduates that transform society, so such interventions are very conducive to ensuring that all of us produce adaptive graduates,” Mr. Mpofana explained to the entrepreneurs. 

He further encouraged the cohort of entrepreneurs to ensure that they strive to participate actively and meaningfully in such competitions and interventions as the Youth Innovation Challenge with the aim to contribute.  

“Please grab this opportunity to make sure that you invest not only in yourselves as there are so many graduates sitting at home and unemployed, so please grab such opportunities, invest in yourself as entrepreneurship can be seen as vehicle not only to address graduate unemployment but also to solve societal opportunities and gaps not only within the greater society but in your immediate circle,” Mr. Mpofana stated further.  

Competition amongst the entrepreneurs was tight as entrepreneurs put their best foot forward in presenting crisp business pitches to the panel of judges.  

Mr. Linda Hasi, Chief Innovation Officer at YAEI, its partners Young African Entrepreneurs Institute, described the programme as the start of a pipeline that eventually feeds into the 12 months long Emerging 30 programme.  

“In each and every province we select five innovators and from that group of 45 we then have them present or pitch their businesses in Johannesburg and then from there select the 30. The 30 emerging entrepreneurs will then be supported in various forms through our partnership with Absa in terms of advisory services, access to funding and markets,” Mr. Hasi explained the programme.  

He lauded the pitches delivered by the students and community entrepreneurs, and added that the main goal was the commercialisation of innovation to ensure the development of innovative enterprises.  

Mr. Norman Venketiah, Absa Head of SMMEs for KwaZulu-Natal and Mpumalanga, said that they believed in empowering Africa’s tomorrow by weaving together stories of progress, innovation and resilience while being a force for good.  

“One of our key strategic priorities is to ensure that we are indeed that force for good, we are committed to the actions that positive impact our communities, our environments and our future, this commitment exemplifies on our focus on the youth of Africa because their story matters,” Mr. Venketiah said. 

He further stated that the story of young people in South Africa was one of untapped potential, creativity and problem solving and was a story that when empowered could transform not just their lives, but their entire fabric of the wider society.  

With the top five having been announced, the winners from the innobiz DUT expressed delight that their efforts in pitching their businesses to the panel of judges had paid dividends with a spot to present again in Johannesburg in a bid to make the Emerging 30.  

Mr. Nkululeko Sibeko, founder of James Farming (PTY) Ltd, said that he was pleasantly surprised when he was picked amongst the top five in KwaZulu-Natal, although he had been confident in the work that he had done in preparing for his business pitch.  

“I put in all my efforts into my pitch to make it as it was, and I think this has been a very good experience as I have been exposed to like-minded people and who I would love to be in business with in the future,” Mr. Sibeko said.  

 He added that the recognition from the Youth Innovation Challenge said that this opportunity presented the potential of networking with fellow entrepreneurs, both young and experienced, while the exposure also presented an opportunity to attract investors to his business to elevate his business to new levels and contribute to a better South Africa.  

Ms. Nompumelelo Ngcobo, of Oluhlaza Energy, said that although the pitching was challenging given the tight competition for the top five spots, managing to make the top five in the KZN province was a moment of immense pride.  

“There were many people that we were competing with and they were all passionate, we found that a bit challenging, but with God we managed to make it. The training for pitching our business provided by innobiz has shaped me so well because my pitching skills have greatly improved in terms of how to prepare the presentation amongst other factors,” Ms. Ngcobo explained.