NWU invites local entrepreneurs to grab opportunity
Entrepreneurs (young and old) are invited to take part in what is being described as the “Olympics of entrepreneurship” – the Get In The Ring (GITR) Investment Battle. This year marks South Africa’s second rendition of this highly popular entrepreneurial challenge - proudly hosted by the bHive Enterprise Development Centre (bhive EDC) on the Vaal Triangle Campus of the North-West University.
Take the well-known global example of Facebook founder, Mark Zuckerberg (now 28), who has literally changed the way the world communicate and conduct business. When it comes to entrepreneurial success stories you don’t haveto take to the global stage, just look around you. With the high unemployment rate young South African entrepreneurs are busy creating jobs for themselves and are making their mark both within the continent and across the globe.
With this in mind, entrepreneurs (young and old) are invited to take part in what is being described as the “Olympics of entrepreneurship” – the Get In The Ring (GITR) Investment Battle. This year marks South Africa’s second rendition of this highly popular and much anticipated entrepreneurial challenge and is proudly hosted by the bHive Enterprise Development Centre (bhive EDC) on the Vaal Triangle Campus of the North-West University in Vanderbijlpark, the Innovation Hub in Pretoria and Real Success.net - a leading online entrepreneurship magazine.
On the 27th of August, Vanderbijlpark will host the first-ever City Final during which entrepreneurs will have the opportunity to pitch their business ideas and concepts to a panel of experienced and high-profile business leaders and entrepreneurs.Entrepreneurs from all-over central South Africa are invited to enter into one of three categories:
Lightweight: The focus in this category is on start-up businesses and students venturing into the field of entrepreneurship. These types of start-ups are typically only just on the market with some first customers or could still be in the prototyping phase and developing their first product. The funding these start-ups are looking for is typically Seed or Early-Stage funding. Seed funding allows a start-ups to develop a prototype product and generate sufficient investor interest for successive financing rounds. Early-stage funding allows additional operational flexibility over the medium to long term.
Middleweight: The main reason to join GITR for these start-ups is the funding and network aspect that the GITR initiative can offer. Through their participation these start-ups (with a track record of 1-3 years) become visible for investors and corporations. Besides the investors, also larger corporations could offer great funding or network possibilities. Corporations could also partner up with the start up as a supplier, client or distributer.
Heavyweight: The main reason to join Get In the Ring for these start-ups (with a track record of 3-8 years) is assumed to be the exposure and network opportunities the initiative can offer. With the global outreach of GITR, exposure which is created can help these start-ups to take a next step towards international expansion. When joining Get in the Ring in the heavyweight category, start-ups set themselves in a league that attracts media attention and offers them good network possibilities.
Local City Finals will be held in several major centres – such as Johannesburg, Pretoria, Vanderbijlpark, Cape Town, Durban and Bloemfontein to identify the top 100 participants. The top 100 participants will then be invited to the South African semi-finals in October.
In November the entrepreneurial challenge will see the Southern Regionals take place in Malawi, Namibia, Zimbabwe, Angola, Madagascar and the Democratic Republic of Congo (DRC). The top 3 participants of the Southern Regionals will join their South African counterparts in November for the final stage of Get In The Ring: Southern Africa. The winners of this event will join entrepreneurs from around the world during the Get In The Ring: The Investment Battle in January 2016. This much-anticipated event will be hosted in Columbia in the USA.