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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!
Vusi Thembekwayo enthrals Kovsies
2016-08-18
Vusi Thembekwayo delivered an impressive
lecture at UFS
Kovsies students and aspiring entrepreneurs who attended Vusi Thembekwayo’s Like a Boss: Show me the Money lecture will certainly agree that he is indeed the “Rockstar of public speaking”.
Through his sublime oratory skills, blended with flagrant humour, the seasoned serial entrepreneur captivated the capacity audience at the University of the Free State’s EBW Auditorium.
The lecture’s main purpose was for the 31-year-old - who has already achieved immense success in business - to offer valuable business advice and financial literacy. And he did just that.
Thembekwayo explained how innovation has always been driven by necessity. He also mentioned why he believes black people were struggling to build or grow sustainable businesses in the country.
“There is no black capital in SA. There are no schools to teach black people how to start businesses,” Thembekwayo said.
He said black people often opted out of their societal problems in spite of being conscious of them. This was a reference to the visible trend of black people who pursue success for their own personal enrichment.
For the country to solve these problems, amongst many others, Thembekwayo stressed that a labour absorptive economy, which also creates entrepreneurial opportunities, is essential.
Mechanical engineer and World Economic Forum (WEF) Innovator of the Year Award recipient, Nneile Nkholise and Dr Johan van Zyl, from the UFS Centre for Development Support were guest speakers at the event.