The University of Johannesburg’s (UJ) Vice-Chancellor’s Student Innovative Business Idea Awards, an initiative offering students with promising business ideas an opportunity to transform their plans into business enterprises, has announced the 40 finalists who are in the running to win the R100 000 first prize for presenting the best business idea.
In partnership with the National Youth Development Agency (NYDA), the initiative was officially launched at UJ’s Soweto Campus on 31 July 2013. It focuses on developing fledgling student business start-up ideas and nurturing business and life skills in equal measure among UJ students to grow future-fit entrepreneurship. Annually, the University will be investing more than R300 000 towards the Awards in order to help students ignite the growth of entrepreneurship.
The summited plans were reviewed by a panel of judges that included representatives from the University’s Vice-Chancellor’s office, business partners and industry, after which the best 40 ideas were shortlisted. The student with the best business idea will ultimately receive the R100 000 cash-prize sponsored by the NYDA, and second and third place will each receive R50 000 and R30 000 respectively. Furthermore, seven participants will each receive R20 000. The prize money must be used for business set-up costs.
“This initiative reflects UJ’s commitment to social responsibility and highlights the significant role education plays in leading change in emergent markets which was prioritised in the New Growth Path driven by Economic Development Minister, Ebrahim Patel. This initiative is a strong launch-pad for student businesses which could have brilliant potential but face future hurdles. These hurdles could be anything from the lack of understanding business concepts that include intellectual property or company and product law, access to finance, pitching for funding or technical skills that include software development and marketing. One could say we are de-risking people who already have ideas worth millions,” says Director of the Centre for Small Business Development (CSBD) Moipone Molotsi.
40 Finalists for the Vice-Chancellor’s Student Innovative Business Idea Awards:
1. 21st Century Cleaning Services
2. Arete Technologies
3. Baked Up Confectionery
4. Closet Space Interim
5. De La Devine Bakery
6. Décor Glass and Aluminium
7. Doors Spectrum Entertainment
8. Ebsha IT
9. Ellantre Life Moments Company
10. Energex Bio Fuel
11. Entrepreneur Business Library
12. E-Work Book
13. Eye N See Entertainment
14. Farmers Footprint
15. Herbed SPF
16. Hlongwane Recycle
17. Hsu’s Hospital
18. Imani Business Enterprise- Munyai
19. Industrial Mattress Cleaning
20. Intermix Recycling
21. John Kaleb Business Solution
22. Ke Tholo Constructions
23. Loyal Book Fellow
24. Lula Enrichment Centre
25. Mbowane Investments
26. MK Hair and Nail Beauty Salon
27. Mo Jah African Art and Literature
28. MT Wheel Alignment and Car Wash
29. One Way Gadgets
30. Pat Pertunia’s Unique Hand Bag
31. Phutanati EC
32. RAA Business Talk
33. Reamohetse Student Transport
34. Secure Tag
35. SoliiiD
36. Squiggle Clothing
37. Strong Foundation Communication
38. The I do company
39. V’s Magic Spray
40. Young and Gifted
