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03 October 2024
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Story Ansie Barnard
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Photo Supplied
From left to right: Londeka Mkhwanazi, Semither Mkhize, Salima van Schalkwyk, Slindokuhle Ndlovu, Asanda Mpinga, Mantombi Molefe, Ntombinkulu Khumalo, Mosebjadi Chauke and Thembinkosi Mkhwanazi.
The Amrut Foundation, in partnership with the University of the Free State (UFS), successfully hosted its Inaugural Innovathon at the UFS Qwaqwa Campus. This competition is designed to identify and support innovative products and services that not only generate profit but also contribute to the public good, with a strong emphasis on ethical business practices. Through this collaboration, students gain national exposure for their businesses and receive support to create sustainable social enterprises.
Five teams of student social entrepreneurs from the Qwaqwa campus were shortlisted to participate in the regional finals. Their selection was based on ventures that adhered to a social entrepreneurship model and demonstrated plans for long-term profitability and sustainability.
During the Innovathon, a panel of judges from the UFS, the Amrut Foundation, and the Small Enterprise Development Agency (SEDA) selected two outstanding teams to represent the UFS at the national finals, which will take place in October. The winning ventures, Biofly-Pro and Root Rescue were each awarded R20,000 to further develop and expand their initiatives.
Hemang Desai, Executive Director of the Amrut Foundation, expressed his enthusiasm for the event: "Amrut is proud to co-host the Free State leg of the inaugural Innovation Challenge with the UFS. Supporting students with entrepreneurial ambitions that align with societal care is one of our key focus areas."
Dr Grey Magaiza, Senior Lecturer and Deputy Director for the Centre for Gender and Africa Studies at the UFS, highlighted the importance of social entrepreneurship: “Social entrepreneurship is a collaborative effort towards creating sustainable and ethical business processes. The two winning projects embody these principles, and we look forward to their continued growth. In line with our Vision 130, social entrepreneurship can serve as a critical lever for university-community engagement.”
Congratulations to Biofly-Pro and Root Rescue on their well-deserved achievements!
Team on the way to SIFE world cup
2007-07-16
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A team of students from the University of the Free State (UFS) has won a national competition in business skills and entrepreneurship, and will be representing South Africa at the Students in Free Enterprise (SIFE) World Cup in New York later this year.
The SIFE World Cup will be held in New York from 10 to 12 October, and will feature student teams from 40 countries.
Antonia Gumede, a UFS student, says the competition involves students developing sustainable business models based in the community, which are evaluated in terms of entrepreneurship, financial literacy, business ethics, market economics and success skills.
Gumede says the UFS entry won first prize in all five categories at this year’s national competition.
The UFS team consisted of seven students and two faculty advisers, and included a diverse group of students studying in fields such as accounting, psychology, social science and actuarial science.
The UFS won the national SIFE competition for three years in a row – 2002, 2003 and 2004. This year (2007), the UFS team emerged as the winner for the fourth time.
The Co-ordinator of Community Service in the Faculty of Economic and Management Sciences, Tessa Ndlovu, attributes the success of the team to the university’s policy of community service learning, which she says motivates students to get involved in academically grounded projects that contribute to the well-being of the community.
“The financial, academic and emotional support from the Faculty of Economic and Management Sciences, as well as the faculty’s contribution to community service learning on the campus, contributes to the success of the team,” added Ndlovu.
The UFS SIFE team has been sweeping the board nationally. They first won the competition in 2002 and went on to represent the country at the SIFE World Cup in Amsterdam (the Netherlands), where they came fourth out of 33 countries.
In the following year (2003), the SIFE UFS team was once again crowned the national champion and went on to represent South Africa internationally, coming second in Mainz, Germany.
SIFE teams spend the academic year conducting projects that specifically meet the communities’ unique needs. These efforts assist aspiring entrepreneurs, struggling business owners, low-income families and children by teaching them how to succeed in a global market economy.
“Teams have the tremendous asset of learning from business experts who serve on their Business Advisory Boards. These people not only provide mentorship and guidance to them in terms of their projects, but also introduce them to other leaders in the community and give them access to needed resources,” said Nldovu.
“It is an unparalleled feeling to know that the contribution we as students make in our communities actually matters,” added Gumede.
Media release
Issued by: Mangaliso Radebe
Assistant Director: Media Liaison
Tel: 051 401 2828
Cell: 078 460 3320
E-mail: radebemt.stg@mail.ufs.ac.za
16 July 2007
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