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City to reward Soweto’s bright business stars

18 May 2016

 

In its continued drive to cultivate the spirit of entrepreneurship and encourage innovation, the City of Johannesburg has entered into a partnership with The Business Place and Innovation Hub to reward business excellence in Soweto.

 

The City and its partners have come up with a business competition with prizes totalling R575 000.

Johannesburg Executive Mayor Councillor Parks Tau said the City was proud to launch this Soweto Business Stars competition because through it ”we reaffirm our commitment to ensuring that our people play a robust and active role in the development of our city’s economy”.

Mayor Tau said South Africa recognised the crucial function of small businesses in growing the country’s GDP, creating jobs and fostering a world-class culture of innovation and creativity.

“However, we also recognise the many tough challenges they face, both in terms of funding and technical support. The Soweto Business Stars competition makes it a priority to address both. We look forward to seeing the innovation businesses and fresh ideas that emerge from this competition,” he said.

Details of the competition were presented to SMMEs at the Dlamini Hall in Soweto on Tuesday May 17 by The Business Place Branch Manager Gugu Khonjelwayo. The competition has been divided into five categories. In each category, the winner takes home R100 000, with the overall winner pocketing a further R75 000.

The categories as follows:

  • The Rising Star: This is aimed at entrepreneurs with new and market-ready business ideas;

  • Service Superstar: This category is for businesses that have introduced innovation in the services they deliver or the way they meet their customers’ needs;

  • Technovator: This is for businesses using technological or process innovation to achieve business success;

  • Social Revolutionary: The category is designed for community-oriented businesses approaching specific challenges in an original way to ensure the community benefits from its business success; and

  • Zero to Hero: This is meant for businesses that have turned around a low-growth or loss-making business into a profitable venture.

The entrant must:

  • Be at least 18 years old;

  • Have a business operating in Soweto;

  • Have a South African registered company, close corporation, non-profit company, sole proprietorship, co-operative or recognised community organisation;

  • Be able to prove that the business is at least 51% owned by a South citizen living in Soweto;

  • Have a valid tax certificate; and

  • Be able to verify your BBBEE status.

The closing date for entries is Friday June 13 2016.
This is one of the business competitions the City is running to boost entrepreneurship and business ventures in Johannesburg. The others include the #Hack.Jozi Challenge and Jozi My Beginning Community Innovation Fund.



 

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