The University of Johannesburg (UJ) has introduced an innovative mentorship programme designed to support aspiring entrepreneurs in developing start-ups and spinout companies.

This initiative is modelled on the Massachusetts Institute of Technology (MIT)’s Venture Mentoring Service (VMS), a programme whose mission is founded on the belief that ventures are more likely to succeed when entrepreneurs receive guidance from experienced mentors in a structured and trusted environment.

On Tuesday, 27 August 2024, Jerome Meier from the MIT VMS visited UJ to work with the initial group of volunteer mentors, equipping them with the VMS model’s principles. The current cohort of mentors includes successful entrepreneurs, business owners, and seasoned executives, all committed to nurturing the next generation of innovators.

Volunteer mentors were invited to participate in the UJ VMS programme by the Vice-Chancellor and Principal, Professor Letlhokwa Mpedi who highlighted that “in a country where the rate of unemployed graduates is very high, solutions to this challenge require various approaches including university-industry/business partnerships. The UJ VMS Programme will assist in driving the United Nations Sustainable Development Goals (SDGs) such as SDG 8 – Decent Work and Economic Growth. Furthermore, this programme aligns with UJ’s strategic objective to achieve excellence in research and innovation, which extends to excellence in commercialisation of Intellectual Property (IP) as well as entrepreneurship support,” added Prof Mpedi.

Mentor insights: Why industry leaders are committed to empowering UJ entrepreneurs

When asked about their motivation for joining the VMS programme, the mentors expressed their enthusiasm for contributing to this transformative initiative:

Professor Shirley Motaung, Founder and CEO of Global Health Biotech Pty (Ltd) shared, “I’m excited about the VMS Programme because it empowers aspiring entrepreneurs to turn their innovative ideas into sustainable ventures. The mentorship provided by experienced professionals is invaluable in shaping the future of both for-profit and non-profit enterprises. This program is a catalyst for growth, not just for the entrepreneurs, but for the entire ecosystem, fostering a spirit of innovation and collaboration that aligns perfectly with my passion for entrepreneurship and making a positive impact.”

Lekau Sehoana, Group Executive of Amanzi Brands and popularly known as the Founder of Drip Sneakers, added, “I accepted the invitation to serve as a mentor because of my passion for entrepreneurship, and one of the reasons is that if I had mentorship myself while starting my business, I would have been very far. Having the experience now, it would be fair for me to share this with other aspiring entrepreneurs. It also gives me an opportunity to and also network with other mentors. They say we have to lift as we rise, so it is important that we have to give back and open the doors for other entrepreneurs.”

Former CEO of General Electric Southern Africa, and author of Take Charge, Nyimpini Mabunda, remarked, “Firstly, we have a responsibility to pay it forward, to help the next generation. Secondly, as mentors, we also learn because of the generational gap, so when we speak to young entrepreneurs with ideas, we cross-pollinate, and this creates richness because this is not a one-way traffic. Thirdly, the institutions involved are reputable, and you want to associate your brand with a UJ or MIT. Therefore this is about working with people through people.”

Thabisile Phumo, an Executive in a mining company, commented, “I am attracted to this programme because I think there is an opportunity for us as South Africans to unlock the potential of young entrepreneurs, particularly in the future that we are planning to endeavour into as a country. Therefore, for us to be able to take advantage of the Fifth Industrial Revolution, to be on the cutting edge of technology we need to catalyse and incubate young people that have the ideas to take us there.”

Currently, the UJ VMS Programme is in its pilot phase, working with a small group of UJ student entrepreneurs. Following this phase, the programme will open to a broader pool of entrepreneurs within and outside UJ.

Those interested in becoming a volunteer mentor or participating as an entrepreneur should email vms@uj.ac.za.