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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

Einstein's gravitational waves as creative as Bach's music, says UFS physicist
2016-02-19

Description: Gravitational waves  Tags: Gravitational waves

Profile of the gravitational waves of the colliding black holes.

Prof Pieter Meintjes, Affiliated Researcher in the Department of Physics at the University of the Free State, welcomed the work done by the Laser Interferometer Gravitational-Wave Observatory (LIGO) science team.
 
For the first time, researchers from two of the American Ligo centres, in Washington and Louisiana respectively, observed gravitational waves directly, 100 years after Albert Einstein said they existed. "My study field in astrophysics involves relativistic systems. Therefore, Einstein's view of gravity is crucial to me. I consider the theory as the highest form of human creativity - just like the music of JS Bach. Over the past 100 years, the theory has been tested through various experiments and in different ways.
 
“The discovery of gravitational waves was the last hurdle to overcome in making this absolutely unfaltering. I am therefore thrilled by the discovery. It is absolutely astounding to imagine that the equations used to make the predictions about the gravitational-wave emissions when two gravitational whirlpools collide - as discovered on 14 September 2015 by LIGO - are basically Einstein's original equations that were published way back in 1916 - in other words, 100 years ago.
 
“The LIGO detectors have been operational since the early 1990s, but they had to undergo several stages of upgrades before being sensitive enough to make detections. LIGO is currently in its final stage, and is expected to function at optimal sensitivity only within a year or two. To be able to conduct the measurements at this stage is therefore a fantastic achievement, since much more funding will certainly be deposited in the project,” Prof Meintjes says.

Description: Prof Pieter Meintjes Tags: Prof Pieter Meintjes

Prof Pieter Meintjes
Photo: Charl Devenish

The search for gravitational waves by means of the Square Kilometre Array (SKA) is one of the focus points in research by both Prof Meintjes and PhD student, Jacques Maritz. This involves the study of radio signals from pulsars that might show signs of effects by gravitational waves. They are looking for signs of gravitational waves. The gravitational waves discovered and studied in this manner would naturally vary much more slowly than the signal discovered from the two colliding gravitational waves.
 
The discovery will definitely provide renewed impetus to the Square Kilometre Array (SKA) Project to use the dispersion of pulsar signals, and to search for the impact of gravitational waves on signals as they travel through the universe. According to Prof Meintjes, the SKA will definitely contribute fundamentally to the Frontier research, which will provide a good deal of publicity for the UFS and South Africa, if significant contributions are made by local researchers in this field.

Video clip explaining gravitational waves

 

  • The Department of Physics will present a general, non-technical talk concerning the recent detection of gravitational waves by the 2 Laser Interferometer Gravitational Wave Observatories (LIGO):

Wednesday 24 February 2016
11:00-12:00
New lecture auditorium, Department of Physics

 

 

 

 

 

 

 

 

 

 

 

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