TEN budding young entrepreneurs have made it through to the incubation stage of the third edition of the Value Creation Challenge (VCC), following a record 533 applicants this year, organisers have said.
The challenge is run by start-up and entrepreneurship hub, the Eight2Five Innovation Hub powered by Old Mutual, in collaboration with the British Council, The British embassy and EFT Corporation.
Old Mutual Zimbabwe’s head of group marketing, public affairs, and sustainability Lillian Mbayiwa commended female entrepreneurs for taking part in the Value Creation Challenge this year.
“One notable achievement of this year’s VCC3 programme is the significant increase in female participation, which has risen to 22% compared to the previous year’s 8%,” Mbayiwa said in a statement.
“This increase in female participants indicates the growing interest and involvement of women in entrepreneurship, as well as the success of initiatives that promote gender diversity and inclusivity in the start-up ecosystem.”
The top 10 finalists for the VCC3 programme represent a diverse range of innovative ideas and ventures.
“Clean Up Zimbabwe, one of the finalists, aims to address environmental challenges through sustainable waste management practices, while Dawa Health (Zimbabwe) Ltd focuses on leveraging on technology to improve healthcare delivery.
“Farmbuzz Agriculture Solutions seeks to revolutionise farming practices using intelligent farming techniques, and Lifeline Publishing House aims to promote literacy and education through innovative publishing methods.
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“Mumoch Enterprises endeavours to create employment opportunities through its manufacturing and distribution of eco-friendly products. Nyasha Textiles Studio is dedicated to promoting locally made textiles and empowering local artisans, while Save More Tomorrow (SMarT) Wealth aims to provide financial literacy and wealth creation solutions.
“Tax Pal Zimbabwe (Pvt) Ltd offers simplified tax management solutions to small businesses, Zar Tech specialises in providing tech solutions, and Zimbabwe Flying Labs focuses on utilising drones for social goods,” read part of the statement.
Over the next three months, the finalists will undergo intensive training and mentoring programmes facilitated by a diverse pool of mentors and facilitators from various industries.
This carefully selected group of experts will provide guidance and support in critical areas such as opportunity development, growth strategy, marketing and PR, pitching, testing and prototyping, as well as financing and profitability.
The incubation period aims to equip participants with the necessary skills and knowledge to thrive and be resilient in the competitive business landscape.
From previous editions to date, the Value Creation Challenge has already engaged over 1 000 participants and distributed approximately US$70 000 worth of funds to support promising start-ups.
“By empowering entrepreneurs through programmes like the Value Creation Challenge, Old Mutual aims to foster a thriving entrepreneurial ecosystem that contributes to the sustainable development of Zimbabwe,” Old Mutual Zimbabwe group chief executive Samuel Matsekete said.
“Success stories come from nurturing innovation and guiding young people towards success by offering the right mentors who will help them navigate entrepreneurship challenges.”
