Jozi my beginning Innovation Fund draws massive interest

06 May 2016

 

The City of Johannesburg is again dangling a multimillion rand carrot in front of budding entrepreneurs, micro business owners and start-ups across the city, calling on them to come up with innovative ideas that could change their lives and their neighbourhoods.

 

The R50-million Jozi My Beginning Community Innovation Fund is an offshoot of Jozi@Work, a R3-billion mass empowerment and job-creation programme initiated by Johannesburg Executive Mayor Councillor Parks Tau to deal with challenges of unemployment, poverty and inequality.

This week hundreds of entrepreneurs wishing to benefit from Jozi My Beginning packed halls in Dlamini Extension 2 and Naledi, both in Soweto (Region D), and Hillbrow and Jeppestown, both in Region F, for a briefing on how they could take advantage of the opportunities provided by the fund. Now in its second year, the initiative aims to train and fund 60 start-ups to expand their businesses.

Entrepreneurs wishing to benefit from Jozi My Beginning are required to come up with an idea, product or service in areas such as retail, micro manufacturing, agriculture, recycling, education and skills development.

More than 2 300 applications were received in the first instalment of the programme. These were whittled down to 161 and later to 65, from which 17 entrepreneurs were selected for extensive training and development.

“Think, think, think,” was the overall message that Corrie Smit and Andre Burger of service provider Resolution Circle, sent as they were addressing audiences about the programme at the various venues. Entrepreneurs were urged to enter the competition as it could help change their townships and their lives.

The City has already approved plans to build micro malls and hubs, where developing businesses could expand and graduate into the formal economy. Smit and Burger also explained that Jozi My Beginning was for businesses not older than three years. At the Dlamini Extension 2 Hall on Wednesday May 4, an entrepreneur raised concerns about “issues surrounding patents”, saying he feared the City might “steal” his idea and implement it without his knowledge.

The facilitators said entrepreneurs must register their patents before making their ideas known. The closing date for entries is 27 May 2016.