SAB KickStart Ignite, the South African Breweries’ (SAB) entrepreneurship programme which supports the development of young innovators, has announced 18 finalists in the 2016 competition who are makers and creators of viable business concepts, ideas or products.
Competing for their share of the R1.2 million grant funding, the SAB KickStart Ignite winners will be announced on 23 March 2017.
SAB KickStart Ignite is aimed at people between the ages of 18 and 35 years who have a commercially viable product or idea aligned to the Manufacturing or ICT industry which makes use of one or more of the following materials: 3D printing, leather, wood, metal, laser and vinyl cutting, software design programs including CAD/CAM, and electronics including development of Internet of Things technology with Arduino and Raspberri Pi.
The 2016 SAB KickStart Ignite finalists were selected last year and have been in incubation for six months. During the incubation stage, these candidates have had the opportunity of turning their ideas into commercially viable products and services, through the support of resident engineers and business trainers. They have progressed through technical and business mentorship, peer learning, networking and the use of advanced technology infrastructure.
SAB KickStart was developed in May 1995 as a poverty alleviation programme which later supported the development of youth entrepreneurship.
Some of the SAB KickStart’s successes over 20 years include supporting, at a total investment of over R100-million, 24 558 entrepreneurs and the creation of 3 458 youth-owned businesses, which have each created an average of 6.7 jobs.
“The comprehensive support afforded to participants by SAB KickStart has ensured the survival of many start-ups which ordinarily have short lifespans. According to an independent impact study done in 2013, at least 84% of all businesses which participated in SAB KickStart were still in operation after three years,” said SAB Corporate Affairs Director, Nirishi Trikamjee.
“SAB KickStart Ignite is assisting in the government objective of economic growth by backing these entrepreneurs and their innovative ideas with potential to create jobs. At this early stage of development, many banks won’t take the risk but we believe our programme creates future business leaders.”Share this article on Social Networks