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New accelerator aims to boost youth entrepreneurship in South Africa

An eight-week initiative aimed at accelerating young entrepreneurs’ aspirations and boosting employment has launched in South Africa.

As noted in a press release sent to Ventureburn, the New Ventures Studio was formed via a partnership between youth development NGO Salesian Life Choices and Caban Investments Limited.

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The eight-week programme calls for applications from aspiring entrepreneurs aged from 16 to 35, regardless of whether they have a business or not. A total of 20 applicants will be selected to receive a scholarship worth R35 000 and attend the Cape Town-based programme.

Read more: Barclays Africa launches accelerator for health and fintech startups

At the end of the course, candidates will pitch to be selected for the New Ventures Studio Incubator. CEO of Caban Investment Limited Dave Romero explains that the five successful entrepreneurs selected will receive startup services, office space and one-on-one mentoring worth R100 000.

The remaining 15 applicants will join the Studio’s Alumni Strategic Network.

The MD of Salesian Life Choices, Sofia Neves, explains that the course will comprise of modules in business and personal development. “Attendees will be exposed to entrepreneurial leaders, learn to cultivate ideas, develop commercial skills and produce an investment-ready business plan by the end of the eight weeks,” she adds.

Romero adds that this partnership will help fulfil the organisation’s pledge to support youth entrepreneurship in South Africa:

Together with Salesian Life Choices we hold a diverse set of skills, more than 100 years combined of experience and we will jointly replicate models we have successfully implemented before. We are excited about the positive impact this initiative will have on the youth, South Africa’s economy and the NPO sector.

Applications for the New Ventures Studio close on 11 September 2015. To apply, go to the New Ventures Studio website here.

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