Creative Business Cup Botswana winner scouts for investors
Creative Cup Botswana director, Nicolette Chinomona, says many businesses were hit hard by the impacts of the COVID- 19 pandemic, but they also had an opportunity to pivot and explore plenty of business opportunities that are sustainable under the current economic climate. “There is an opportunity to thrive even when unprecedented things happen; the key is not to panic. The most valuable asset that any entrepreneur has is their brain and they need to give that brain time to focus on the development of ideas and solutions to problems that they might be facing,” she said. Speaking following the annual Creative Business Cup battle- out, Chinomona expressed hope that the annual competition, now in its fourth year, would continue to inspire Batswana to develop their entrepreneurial dreams.
The winner of the 2020/ 2021 Creative Business Cup competition, sponsored by Lucara and the Stanbic Accelerator, is Kgomotso Sedimo, whose business Keren Happauch, specialises in producing perfumes and scents inspired by Botswana indigenous plants. The grand prize was an all- expenses paid trip to represent Botswana at the international finals of the Creative Business Cup in Copenhagen in Denmark in December last year. Leading the selection process at this year’s competition were: Obakeng Segwagwe of Botswana Innovation Hub, Buca Matenge, co- founder of the Fatcake Accelerator, and Tefo Modise Setlhare from Debswana.
Director of Stanbic Accelerator, Larona Makgoeng said they were pleased to be part of the Creative Business Cup initiative, in keeping with the goals of developing the entrepreneurship ecosystem in Botswana. “The Creative
Business Cup initiative is aligned to entrepreneurship development, which is the focus of Stanbic Bank Acceler8. We are pleased to work with the team of Creative Business Cup, who have been dedicated to unearthing entrepreneurs who have gone on to do great things and impact society in multiple ways.”
Chinoma explained that as with previous years, the judges looked at three main criteria when assessing the competitors: creativity, business execution and market potential. “This is to make sure that the start- up that is sent to represent Botswana has a product that is innovative and carries some sort of sense of what Botswana has to offer. The judges also look for businesses that have strong business models that can be scaled up in the future, and which appeals to investors because everyone wants to put money in a venture that has the ability to grow. Market potential is also a must and this
gave Keren Happuch the edge over the other competitors as it is thriving not only within the borders of Botswana, but has also ventured into two other southern African countries,” she said.
Chinomona further said the winners benefitted from having the opportunity to present their products to a different market. “Denmark is a member of the European Union, so it has provided a potential launch pad for getting their products into the EU market.”
Sedimo said finding investors and an international market, was key priority during her trip to Denmark. “Investors will help us scale up and also forge meaningful partnerships, networks and relationships, which will aid in the growth of our business. We don’t just want to be a Serowe or Botswana brand - our mission and vision is to take our brand to the entire world, and this experience will help us in getting closer to our mission.”