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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

UFS researchers are producing various flavour and fragrance compounds
2015-05-27

 

The minty-fresh smell after brushing your teeth, the buttery flavour on your popcorn and your vanilla-scented candles - these are mostly flavour and fragrance compounds produced synthetically in a laboratory and the result of many decades of research.

This research, in the end, is what will be important to reproduce these fragrances synthetically for use in the food and cosmetic industries.

Prof Martie Smit, Academic Head of the Department of Microbial, Biochemical and Food Biotechnology at the UFS, and her colleague Dr Dirk Opperman, currently have a team of postgraduate students working on the production of various flavour and fragrance compounds from cheap and abundantly available natural raw materials. 

Prof Smit explains that most of the flavours and fragrances that we smell every day, originally come from natural compounds produced mainly by plants.

“However, because these compounds are often produced in very low concentrations by plants, many of these compounds are today replaced with synthetically-manufactured versions. In recent times, there is an increasing negative view among consumers of such synthetic flavour and fragrance compounds.”

On the other hand, aroma chemicals produced by biotechnological methods, are defined as natural according to European Union and Food and Drug Administration (USA) legal definitions, provided that the raw materials used are of natural origin.  Additionally, the environmental impact and carbon footprint associated with biotech-produced aroma chemicals are often also smaller than those associated with synthetically-produced compounds or those extracted by traditional methods from agricultural sources.

During the last four years, the team investigated processes for rose fragrance, vanilla flavour, mint and spearmint flavours, as well as butter flavour. They are greatly encouraged by the fact that one of these processes is currently being commercialised by a small South African natural aroma chemicals company. Their research is funded by the Department of Science and Technology and the National Research Foundation through the South African Biocatalysis Initiative, the DST-NRF Centre of Excellence in Catalysis and the Technology Innovation Agency, while the UFS has also made a significant investment in this research.

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