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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

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Lithium-ion batteries research set to improve ordinary lives
2016-02-11

Description: Dr Lehlohonolo Koao  Tags: Dr Lehlohonolo Koao

Dr Koao is making a much-needed contribution in improving lives of ordinary people through his research on lithium-ion batteries.

The future of relevant and top-notch scientific research at the Qwaqwa Campus is in good hands. Dr Lehlohonolo Koao is one of the five members of the Vice-Chancellor’s Prestige Scholars Programme (PSP) on the Qwaqwa Campus.

The need to improve the efficiency of heating mechanisms in his immediate community in Qwaqwa, and the support he receives from the PSP, have become catalysts for his current research project on lithium-ion batteries. According to Dr Koao, the study will focus on producing batteries that last longer, store more energy, are cheaper to manufacture, and are environmentally friendly when being disposed of. These are key factors in solar energy.

‘’The majority of households in my neighbourhood have benefited from the government’s project of providing households with solar panels to help with lighting, cooking, and heating without worrying about the ever-increasing electricity costs,’’ said Dr Koao.

‘’Since my arrival in the area, I have realized that the heat absorption rate of the batteries used by solar panels is not enough. As a result, these batteries also lack enough power to sustain the supply throughout the day, especially on a cloudy day,’’ he said.

His research project focuses on improving the efficiency of lithium-ion batteries that are now commonly used in portable electronics, such as cell phones and laptops. This kind of battery is rapidly replacing the usual lead-acid batteries. Dr Koao’s determination to contribute towards a safer and more efficient heating absorption system has made him move away completely from his PhD study on lighting material.

‘’My previous study was on reducing the power usage on domestic and industrial lights as they use more electricity. This study, on the other hand, will enhance power retention in the batteries for improved daily life since cell phones, solar panels, and laptops, to mention only a few, are now a way of life,’’ he added.

Dr Koao is a Senior Lecturer in the Department of Physics, where he specializes in solid state materials.

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