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02 July 2019
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Story Eloise Calitz
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Photo Keagan Nkwaira
Audience members listening attentively to the presentations at the Entrepreneurship Inter-varsity on the Bloemfontein Campus.
The UFS continuously creates opportunities for students to develop and explore platforms where they can showcase their talents and share their innovative concepts. In the light of this, it is important for the institution to become a preferred academic knowledge partner that can conceptualise, develop, and successfully commercialise research activities, and through this foster an innovative and entrepreneurial culture that aligns to its Integrated Transformation Plan.
This is why opportunities such as the Entrepreneurship Intervarsity Competition are so important, since it encourages students to demonstrate their entrepreneurial talent, and through this connect with investors and industry leaders to start up a business.
The competition
Student entrepreneurs across the 26 public universities in South Africa were invited to submit their innovative ideas as part of a competition supported by Entrepreneurship Development in Higher Education (EDHE), in collaboration with the Allan Gray Orbis Foundation. The opportunities created through this initiative are twofold:
1. For student entrepreneurs to present their innovative ideas and businesses.
2. For universities to demonstrate their entrepreneurial talent and the ways in which they support and grow the next generation of business leaders.
The competition takes place in five stages. The process started with each student submitting their short videos and applications on the official competition site. Each institution also had the opportunity to select student entrepreneurs to take part in the competition. Fifteen students pitched their ideas during internal rounds at the UFS on 30 May 2019. Of these students, four were selected to represent the UFS at the regional rounds of the Entrepreneurship Intervarsity, where the finalists will be chosen.
The students were judged in four categories:
• Category 1: Innovative Ideas
• Category 2: Tech Businesses (existing businesses, formal or informal, undergrad or postgrad)
• Category 3: Social Impact Businesses (existing businesses, formal or informal, undergrad or postgrad)
• Category 4: General (existing businesses, formal or informal, undergrad or postgrad)
The following UFS entrants were selected to take part in the regional finals:
• Christopher Rothman for his liquid yeast culture that can be used in the fermentation of beer.
• Driaan-Lou Kemp for his patented water-saving device.
• Grace Mthembu for her electricity-saving system.
• Martin Clarke for his idea to use drone technology for the mining industry
Deputy Governor of SA Reserve Bank inspires students
2016-08-19
Dr Lyndon du Plessis, Head of Department of Public
Administration and Management, Francois Groepe,
Deputy Governor of the South African Reserve Bank,
Prof Philippe Burger, Head of the
Department of Economics and B.Com Hons student,
Mosoeu Mabote.
Photo: Siobhan Canavan
Students from the Faculty of Economic and Management Sciences had the opportunity to learn from the best in the field when the Deputy Governor of the South African Reserve Bank, Francois Groepe, presented a seminar on the changing roles of central banks.
According to Groepe, we are currently living in challenging times as central banks are called on to do more.
“Central banks have limits, and these limits are not always understood,” he said on 11 August 2016 in the Equitas Auditorium on the Bloemfontein Campus.
How central banks contribute to inflation
There are two main generally-expected roles from central banks: the obvious one of providing bank notes and coins, and the other, maintaining price stability.
According to Groepe, the aim of keeping prices stable is to ensure easier planning for the future, and to assist the poor.
“The poor are the ones more vulnerable to higher inflation because they hardly have enough to get by,” he said.
A negative impact on monetary policies could affect the economy negatively. This is as a result of higher inflation caused by the increase in food prices.
Furthermore, the 12% government debt renders a negative yield in the economy.
The stability of finances in South Africa
Financial stability is not an end in itself, but, like price stability, is generally regarded as an important precondition for sustainable economic growth, development, and employment creation.