BDC Managing Director urges entrepreneurs to learn from failure
Our economy and future prosperity depend on many factors, but high among this list is the ability of entrepreneurs to develop ideas into great enterprises.
Botswana Development Corporation has implored entrepreneurs to accept failure and avoid shunning away from business challenges.
The government investment arm with a mandate to finance commercially viable projects made the call this week when announcing the winner of BDC Business Den prize, a project intended to support youth, cultivate entrepreneurship, provide an enabling environment and explore opportunities for scalable businesses, geared towards advancing the economy. “The truth is that among entrepreneurs, failure is welcome as it provides a learning platform,” said BDC Managing Director, Cross Kgosidiile.
He emphasized that invention and innovation do not occur without a strong and powerful motive. According to BDC, the inaugural winners of BDC Business Den prize, Alosa Group of Companies will be kept in the Business Den for eighteen months. BDC will provide constant monitoring and evaluation while playing a mentorship role until the project is mature and can graduate. “Our economy and future prosperity depend on many factors, but high among this list is the ability of entrepreneurs to develop ideas into great enterprises. The Business Den is one such initiative that the Corporation seeks to give back to the community by empowering young business- minded people to take their ideas and businesses to the next level,” said Head- Corporate Affairs and Strategy, Boitswarelo Lebang- Kgetse.
In addition, through BDC’s collaboration with Africa Youth Entrepreneur Summit ( AYES) and Angel Networks Botswana ( ANB), support through mentorship and networking opportunities will also be provided. Alosa Group of Companies comprises Alosa Feeds and Alosa Biomass- Charcoal Briquettes managed by Samuel Ntshiwa in partnership with Tshegofatso Ntshiwa. The duo has designed biomass charcoal briquettes and a carbonizing unit for Alosa Briquettes. Alosa emerged the winner following a pitch session that was hosted by BDC on the 18th of February 2021, where the top 10 finalists, were invited to pitch their ideas to a panel of independent judges.
The top 10 finalists that were invited for the pitch session were African Store Online, Organic Naturals, Debtum Green, Legitimate Projects, ALOSA Group of Companies, Floyd Tech, Klaas Safaris, Rantape Contractors, Collections by BK Proctor and BATSH Grocery Delivery. The finalists were selected from a pool of 244 proposals, which underwent a rigorous evaluation and screening process. Meanwhile, BDC invests in commercially viable projects across all sectors of the economy except large- scale diamond mining.