Celebrating student entrepreneurs

The Entrepreneurship Intervarsity competition could be the first step to becoming your own boss, so University of Cape Town (UCT) students with big ideas for their own businesses should take note that there only a few days left to submit entries before the closing date on Tuesday, 30 April.

The national contest is a first for the Entrepreneurship Development in Higher Education (EDHE) programme, which is running the challenge in collaboration with the Allan Gray Orbis Foundation and the SAB Foundation. It is presented by the Department of Higher Education and Training (DHET) and Universities South Africa (USAf).

The aim, according to the organisers, is to identify the top student entrepreneurs at each of South Africaʼs public universities, to recognise and showcase their businesses, and to invite investment into their enterprises. It also provides a chance for aspiring entrepreneurs whose businesses are still in the ideas stage to pitch their concepts.

In the process, they said, universities will have an opportunity to demonstrate their entrepreneurial talent, as well as the ways in which they support and grow the next generation of business leaders.

Entrepreneurial talent

The Allan Gray Orbis Foundation said they got involved with the intention of “accelerating entrepreneurship, cultivating an entrepreneurial mindset among South African youth, and expanding the pool of potential high-impact entrepreneurs”.

“Universities will have an opportunity to demonstrate their entrepreneurial talent, as well as the ways in which they support and grow the next generation of business leaders.”

There are three rounds to the competition, the first of which is an internal round at each participating university. A regional round will follow, during which the entrepreneurs or businesses selected by each institution will compete to enter a national round, which will be the final leg.

The national finals are set to take place on 18 and 19 September this year.

The four categories are Innovative Ideas, Tech Businesses, Social Impact Businesses, and General. Reasons to enter include cash prizes and mentorships, to help develop your business.

There will be one winner and two runners-up for each of the following awards:

• Entrepreneur of the Year (existing business): undergraduate and postgraduate.
• Sustainable and Scalable Venture: idea, undergraduate and postgraduate.
• Social Entrepreneur and Non-profit.
• Idea of the Year.
• Student Entrepreneur Champion (for championing student entrepreneurship development).
• Innovation Award: idea, undergraduate and postgraduate (for the most innovative idea and business that demonstrates the ability to disrupt the industry).

Complete an online entry form and upload a two-minute video pitch of your business idea (category 1) or existing business (categories 2 to 4).