The North-West University (NWU) hosted the Young African Entrepreneurs Institute (YAEI) and Absa Youth Entrepreneurship Northwest Tour (YET), from 6 to 7 August, welcoming young impactful entrepreneurs to the Potchefstroom Campus.
The YET aims to extend entrepreneurship development support across South Africa. The tour visits each province, providing a platform where young entrepreneurs can showcase their ventures.
Day one of the tour kicked off with a youth innovation challenge pitch where participants had the opportunity to present their innovative ideas and solutions, kindling their entrepreneurial spirit and creativity.
This challenge aimed to develop entrepreneurial youth that can drive measurable socio-economic impact, addressing pressing issues in energy, environment, finance, social development and technology.
The competition was open to all students, graduates and entrepreneurs between the ages of 18 to 35 years who are passionate about developing solutions that could make a tangible impact and show market potential with a clear path to implementation.
Participants were required to be at least at the concept or minimal viable product stage of their ideas, which were evaluated based on their originality, viability market identification, and sustainability.
In the end, Faith Matilo (Bright Spark), Ntando Neck (Babu Space), Kgothatso Mashigo (We Learn ZA), Claudia Mosupa (Heatricity), and Martin Maupa (Cerrar Solutions), were announced the winners. They received cash prizes and will become part of the national Emerging 30 Innovators that will have the opportunity to attend a fully sponsored 12-month enterprise and development incubation programme.
On the second day the young innovators were given a masterclass on financial inclusion, which included advice on how to obtain funding. This was followed by a penal discussion about developing sustainable businesses and creating entrepreneurial pathways.
During his welcoming address, Prof Bismark Tyobeka, NWU principal and vice-chancellor, set the tone for the day, underscoring the importance of promoting innovation and entrepreneurship among young people.
“Institutions of higher learning are crucial in fostering an atmosphere that encourages innovation, creativity, and an entrepreneurial spirit. Partnering with stakeholders like the government, non-governmental and non-profit organisations, and industry partners, we are able to create an environment that is conducive to entrepreneurship and help these young giants create ground-breaking inventions.”
Prof Tyobeka emphasised that the recently launched NWU Enterprises will offer networking opportunities, mentorship programmes and functional incubators to assist and build resources for young entrepreneurs on their path to success.
“As we continue to provide young people with entrepreneurial opportunities, we must recognise that this is an intentional journey involving creativity, invention, and resilience, rather than merely a destination,” said YAEI CEO Risuna Maluleke.
“The journey needs guidance and support, and the YAEI programme is a well-structured ecosystem designed to motivate young people to solve problems and turn their ideas into reality to create opportunities for themselves,” he added.
Bitsa Lenkopane, MEC for Economic Development, Conservation, Environment and Tourism at the Northwest provincial legislature, said government fully supports this initiative. “This partnership is crucial for identifying and funding economic growth programmes that serve public interests.”
More about the Young African Entrepreneurs Institute
The Young African Entrepreneurs Institute (YAEI) is a youth-led registered non-profit company that was established with a mission to develop entrepreneurial youth who will drive measurable socio-economic impact by actively participating in the economy. The institute delivers on its mandate through well-structured programmes that have a combination of practical skills, organised knowledge and proactive support for the youth.
They have partnered with various institutions nationwide, including Absa, Nedbank and the Small Enterprise Finance Agency.
The winners of the YAEI Youth Entrepreneurship Tour for the Northwest province posing with delegates from the YAEI and Absa.
Prof Bismark Tyobeka welcomes attendees during the last day of the Youth Entrepreneurship Tour.
Sabelo Ntshangase, provincial manager for the Small Enterprise Development Agency, Dr Lerato Mdaka, senior lecturer from the NWU’s Faculty of Economic and Management Sciences, and Ronald Nkhumise senior specialist in enterprise development from Absa, were the panellists.
The NWU community welcomes Bitsa Lenkopane, MEC for Economic Development, Conservation, Environment and Tourism at the Northwest provincial legislature.
The CEO of YAEI, Risuna Maluleke
