Young entrepreneurs share R1.5m in fabulous prizes

03 December 2015

 

Several high school learners brimming with innovative business ideas shared more than R1.5-million in prizes during the second annual Step Up 2 a Start-Up (SU2SU) Competition in Woodmead, Johannesburg, on Tuesday December 1.

 

Attracting more than 15 000 entries this year alone, the competition challenged learners to identify a problem in their community and develop a solution using creative and critical thinking to solve it.

Teams from nine high schools across the country attended a two-day entrepreneurship workshop ahead of the competition, which culminated in the prize-giving ceremony. The prizes – including cash and bursaries – were sponsored by the City of Johannesburg, Absa, MTN, National Youth Development Agency, 3M, Putco and the Innovation Hub.

The SU2SU Entrepreneur of the Year award was jointly won by Anna Matiba and Precious Masetla of Ribane-Laka High School in Mamelodi, Pretoria. The duo were given the nod for using recycled material to make “funky” name tags. The prize consists of a holiday courtesy of Tsogo Sun, cash, courses for their educators at Rocket School, maths and science school kits from Eskom, Lego education kits, a free stand at the 2016 Buy Local Summit and school equipment from Intel.

“We are absolutely thrilled and so excited that our idea was recognised for its potential,” said Matiba.

Delivering the keynote address, Small Business Development Minister Lindiwe Zulu said incubating budding entrepreneurs was key to achieving economic empowerment for all.

“Young people of South Africa need to find their 1976 [moment] – their fight is to achieve economic empowerment. With small and medium businesses contributing 47% to the country’s GDP, this sector not only benefits the economy it is also a massive creator of employment,” Minister Zulu said.

Ravi Naidoo, the City of Johannesburg’s Executive Director of Economic Development, said partnering with the SU2SU programme provided valuable opportunities to support youth entrepreneurship.

“Over the past year the City has assisted more than 4 200 entrepreneurs to further their businesses through incubation and networking campaigns and has also aided a further 4 000 to register their businesses.

“Providing young entrepreneurs with opportunities to incubate and develop their ideas at hubs such as Resolution Circle and the Wits ICT Hub opens up a wide and invaluable learning experience,” Naidoo said.

Martin Sweet, Managing Director of organising company Primestars, said the SU2SU Competition not only looked at the potential to lead a change-oriented solution but it was also aimed at growing the existing small business sector, especially for the youth.

“The SU2SU Competition aims to awaken the entrepreneurial spirit in South Africa’s youth and it is doing just that. By encouraging critical and creative business thinking in our youth through education we are producing learners who are solution-oriented and becoming job creators instead of job seekers,” said Sweet.