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12 December 2022 | Story Kekeletso Takang | Photo Supplied
Through the New Venture Creation Programme, the UFS Business School aims to equip unemployed youth with the skills needed to identify and assess entrepreneurial opportunities, design a basic business model, and write a business plan.

The University of the Free State Business School (UFSBS) recently hosted a New Venture Creation programme aimed at mitigating unemployment among the youth. Through this programme, the UFSBS aims to equip unemployed youth with the skills needed to identify and assess entrepreneurial opportunities, design a basic business model, and write a business plan. 

The unemployment rate in South Africa was 33,9% in the second quarter of 2022, with youth remaining particularly vulnerable in the labour market. The New Venture Creation programme, funded by the Education, Training and Development Practices Sector Education and Training Authority (ETDPSETA), provides the opportunity for 100 unemployed youth in the Northern Cape and 100 unemployed youth in the North West to be part of the programme. 

In addition to the UFSBS, the ETDPSETA has also partnered with the Office of the Premier in the Northern Cape, the Sol Plaatje Municipality, and the Department of Social Development. These partners assisted with the identification and recruitment of participants in order to ensure the right people were included in the programme.

“For me, the programme was informative and practical,” said Paseka Tlali, one of the top achievers taking part in the New Venture Creation programme. “It allowed me to learn about developing a business plan. Since completion, I have registered a business focusing on media consultancy. Through my business I can educate others on the importance of developing a personal brand.” 

David Gool, another participant from the Northern Cape, said, “I have now become a social media ambassador working with Herbalife as their brand ambassador, thanks to the programme.”

Participants were taken on a practical journey to identify an idea and turn it into a profitable small business. Not only were they taught about new venture creation, but they were also taken on a journey to understand themselves better. The four-month programme saw participants go from attending classes to presenting their business plans to a panel that was also referred to as “The Circle of Elders”. This panel consisted of the ETDPSETA, the UFSBS, the National Youth Development Agency (NYDA) and the Small Enterprise Development Agency (SEDA). They provided each participant with practical feedback and guidance on how to make their planned venture a reality. 

The New Venture Creation programme includes the following study units: Entrepreneurship Journey, Marketing Plan, Operations Plan, Business Model, and Business Plan Framework, among others. 

Graduation ceremonies were held at the completion of the programme in De Aar and Kimberley, sponsored by Standard Bank.

Read up on more programmes offered by the UFS Business School here

News Archive

Little ‘Devil’s Worm’ on Top 10 New Species list
2012-05-29

 

Halicephalobus mephisto (Devil’s Worm)
Photo: Supplied
29 May 2012

A minuscule little worm found and researched with the assistance of researchers at the university has made it onto the list of Top 10 New Species of the world. The list was published by the International Institute for Species Exploration (IISE) at Arizona State University and a committee of scientists from around the world. It lists the top ten new species described in 2011.

An article on the new worm species appeared in the authoritative journal Nature in June 2011.
 
Prof. Esta van Heerden, leader of the university’s research team, says, “In our wildest dreams, we could not have imagined that we would get so much reaction from the worm’s discovery. We had to do so many checks and balances to convince Nature that the worm could survive in the old and warm water. We were very excited when the article was accepted but the media reaction was unbelievable.”
 
The tiny nematode, Halicephalobus mephisto (Devil’s Worm) of about 0,5 mm in length, is the deepest-living terrestrial multi-cellular organism on earth. It was discovered in the Beatrix gold mine near Welkom at a depth of 1,3 km.
 
The IISE says in a statement the species is remarkable for surviving immense underground pressure as well as high temperatures. The borehole water where this species lives has not been in contact with the earth’s atmosphere for the last 4 000 to 6 000 years.  
 
This top-10 list includes a sneezing monkey; a beautiful, but venomous jellyfish; a fungus named after a popular TV cartoon character; a night-blooming orchid; an ancient walking cactus creature; and a tiny wasp. A vibrant poppy, a giant millipede and a blue tarantula also made it onto the list.
 
The international selection committee made its choice from more than 200 nominations. They looked for species that captured the attention because they were unusual or because they had bizarre traits. Some of the new species have interesting names.
 
Prof. Van Heerden says, “We are very thankful for the exposure that the university gets as a result of the inclusion on the list and we enjoy the international cooperation immensely.”

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