Tabalaza pitching is in full swing
The second round of the 3rd Tabalaza Pitching Programme will be in full swing tomorrow in Bloemfontein, at Bophelo House on the 29 October 2019. Sixteen (16) business enterprises will go up against each other showcasing innovative products and services to potential supporters and innovators.
The programme is an idea of the Department of Economic, Small Business Development, Tourism and Environmental Affairs and it is meant to promote entrepreneurship as a platform for SMMEs owned by young people.
The directive of the programme is to bring economic development to local areas such as cities, townships and rural areas and create market places where they trade their products.
This is done through the linkage of entrepreneur’s ambitions and innovations to opportunities by creating a platform for pitching, skilling and providing seed funding to help them be sustainable. Tabalaza is an intervention for government to attract investment for successful businesses and inventors.
The programme targets youth owned enterprises because government declared the high rate of unemployment amongst the youth a national crises. The sixteen businesses that were identified are from Lejweleputswa District (10), and Xhariep District Municipalities (6).
The enterprises will pitch to a panel of judges with the hope of walking away with the first prize of R300 000.00, second prize of R200 000.00 or the 3rd prize of R100 000.00. The business pitches must have business interest in Mining; ICT; Agro-Processing; Manufacturing and Tourism fields.
The criteria that will be used to select winners is articulated as follows: The Business Model, its Market Potential, Innovation and Technology Readiness, BBBEE, Development Impact and Entrepreneurs Edge.
Practical skills, values, knowledge and right attitude are critical to the success of any entrepreneur. The promotion of entrepreneurship skills, supported by mentorship programmes is key in the development and building of sustainable businesses in an effort to grow the economy and to create the much required jobs.
Source: Government of South Africa