INKUNZ’ISEMATHOLENI YOUTH IN BUSINESS COMPETITION AS A PUBLIC ENTITY OF THE PROVINCIAL GOVERNMENT OF KWAZULU-NATAL, THE ITHALA DEVELOPMENT FINANCE CORPORATION IS DEDICATED TO FOSTERING SOCIO-ECONOMIC DEVELOPMENT AND EMPOWERMENT IN KWAZULU-NATAL. Integral to the organisation’s mandate is its promotion of entrepreneurial development and the creation of employment opportunities for the Province’s youth, creating an enabling environment for them to become meaningful contributors to the Provincial economy and the creators of new employment. One such development platform is Ithala’s INKUNZ’ISEMATHOLENI YOUTH IN BUSINESS COMPETITION. THE PRIZE Ithala will provide the winning entrant with: All necessary business-related advisory support; Assistance with the development of a detailed feasibility study; and Assistance with the development of a comprehensive business plan. Funding of the project. In addition, Ithala will engage with other stakeholders, encouraging further investment in the winning business operation. The theme of the Ithala INKUNZ’ISEMATHOLENI YOUTH IN BUSINESS COMPETITION is: ‘African Solutions to African Problems.’ Business ideas should ideally, therefore, be geared towards addressing environmental and knowledge economy-based socio-economic diffi culties associated with such aspects as: Poverty - advancing nutrition and the like; Health - impacting on disease and broad healthcare; Water - contributing to water purifi cation and improved water management systems; Energy - providing for renewable and/or self-sustaining energy solutions; Sanitation - creating sanitation systems which are both cost-effective and easily accessible; and Security - developing security improvements and interventions to reduce crime. ENTRY CRITERIA To qualify for evaluation, competition entrants are required to meet the following criteria: Prospective enterprise ideas must be: At least 26% Black-owned from previously disadvantaged backgrounds; KwaZulu-Natal-based; Cost-effective and implementable; Viable and potentially sustainable; Capable of promoting employment creation; and Designed to capably address the socio-economic issues and related issues detailed under the heading:Competition Focus. In addition, competition entrants who are selected as fi nalists are required to make themselves available to be interviewed about their business ideas. Interviews are regarded as a critical part of the preliminary judging process. Entrants must be between the ages of 18 and 35 years. HOW TO ENTER To enter the Ithala INKUNZ’ISEMATHOLENI YOUTH IN BUSINESS COMPETITION, entrants should either download an Entry Form from the Ithala website or collect an Entry Form from any branch or business centre of Ithala. The Entry Form, together with all relevant supporting documentation, should be completed in full and deposited in the special competition entry boxes located in each of Ithala’s branches and business centres. Alternatively, entrants may scan and email Entry Forms, together with all relevant supporting documentation to [email protected] by the close of business on Tuesday, 02 September 2014. Entrants should provide a detailed concept document highlighting: Approach to addressing the socio-economic issue identified; How the business would operate; Technology required; and Cost implications. COMPETITION TIMING AND NOTIFICATION INFORMATION The INKUNZ’ISEMATHOLENI YOUTH IN BUSINESS COMPETITION opens to the public on Wednesday, 02 July and closes on Tuesday, 02 September 2014. The competition evaluation, selection of fi nalists and overall judging process will be undertaken between Monday, 08 September and Tuesday, 30 September 2014. Competition entry forms will be available on 04 July 2014 online. Competition results will be made known and the winner notifi ed by Ithala during October this year
Posted on: Sat, 19 Jul 2014 08:46:17 +0000