Ten young entrepreneurs in the Free State with a perfectly polished start-up business pitch could each win a much-needed cash prize in a youth business pitching competition. Creative youths are encouraged to enter the competition targeting those between the ages of 18 and 35 years, across all five districts in the province.
Applications for the competition offering prize money worth R 2.1 million will close on 4 July.
This initiative was launched on 8 June at the Phuthaditjhaba Multi-Purpose Centre in Qwaqwa by Ketso Makume, acting premier of the Free State, and Thabo Meeko, provincial MEC of the Department of Economic, Small Business Development, Tourism and Environmental Affairs (Destea), coinciding with the commemoration of Youth Month.
Each of the five districts will conduct their own youth business start-up pitching competition to determine two winners that will compete provincially for R500 000. First-prize winners in the five districts will receive R200 000, and the runner-up R120 000.
The ten competitors will then compete at the provincial leg for the R500 000 funding prize. Those selected will have their skills polished on pitching techniques by the department and the Small Enterprise Development Agency (Seda). The pitching competition will be conducted through a rigorous adjudication process by a highly experienced panel.
This competition, courtesy of the provincial government, is an attempt to curb the high youth unemployment rate in the province which stands at 49%.
“We encouraged young people to take advantage of this youth business start-up initiative,” said Makume. He added that there is a niche in manufacturing, logistics, tourism, hospitality, and agro-processing as information and communications technology (ICT) in agriculture.
Meeko said the department has already trained about 444 youths on business pitching techniques in all the districts.
“In addition, since the 2021, financial and non-financial support has been provided to about 1 042 youth-owned enterprises across the province,” he said.
Selected candidates will each deliver their pitch during July and August.
To apply for the 2023 youth business pitching competition, click on the following link for the application form:
