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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!
UFS rewards young entrepreneurs
2007-11-14
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The Unit for Entrepreneurship in the Department of Business Management at the University of the Free State (UFS) presented an entrepreneurship competition for primary and high schools in co-operation with Senwes. Learners had to submit a business plan, which was evaluated by lecturers from the department. Rudo Peens, a Grade 5 learner from Sand du Plessis Primary School, was named the winner in the primary school competition and received prize money to the value of R10 000. In his business idea, Cactus characters, he uses cactus designs in various ways, such as for making key rings. The high school finalists each received R1 500 to implement their business plans. The winner of the high school section will be announced early in 2008 and will receive a study bursary to the value of R100 000 from the UFS. Here are, from the left: Mr André Burger (Manager of Senwes, Bloemfontein), Rudo Peens and Mr Jacques Nel (Lecturer at the UFS Department of Business Management).
Photo: Supplied
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