Entrepreneurs with business ideas sought

THE CITY of Cape Town’s social development and early childhood development directorate is turning its attention to would-be entrepreneurs in its latest youth development initiative.

“The #YouthStartCT Entrepreneurial Challenge 2016 is an accelerator programme for start-up entrepreneurs who have viable business ideas that will also create jobs,” mayco member for social development and early childhood development Suzette Little said yesterday.

The city was partnering with the Seed Academy to offer business skills development, mentoring, and cash incentives to the top performers in the challenge.

This formed part of a broader strategy to address issues of unemployment, inequality, and poverty.

The Seed Academy, which was running the challenge on behalf of the city, is a training, incubation, and funding ecosystem for entrepreneurs that focuses on dramatically growing and scaling high growth-potential businesses.

In addition, Altech Radio Holdings had come on board as a sponsor and partner in the challenge.

“We talk often about job creation, but an integral part of that process is empowering potential employers who can contribute to our job creation efforts. It’s one thing to create a job opportunity for an individual, but it is far more beneficial to equip an individual who has a hunger and desire to own their own business with the skills to make that dream a reality and put them in a position to create job opportunities for dozens if not hundreds of others,” Little said.

The #YouthStartCT challenge was open to residents of Cape Town aged 18 to 35. After the closing date for applications, the Seed Academy would assess the submissions and select the top 100 entries. This group would participate in a 10-week mentoring and training course, after which the group would be whittled down to the top 50, top 10, and then the top three.

The overall winner at the end of the competition would receive prizes and support in the implementation of their business idea.

The city would also devise a strategy to help further the ideas and plans of each of the top 100 participants.

Details of the challenge are available on the city’s social media platforms. Applications for the challenge close on Friday, April 15. – ANA