If you have a great business idea but don’t know how to take it further, Samsung’s Mixed Talents campaign is running a new competition aimed at young and aspiring entrepreneurs - officially opening to the public on 13 June 2016 and closing on 3 July 2016.
Following on from its previous competition earlier this year, which saw three winners each receiving R50 000 in start-up capital, as well as support from a training and mentorship programme, this competition is going to see ten finalists pitching their ideas to a panel of business experts in much the same manner as the popular ‘Dragons’ Den’ television programme.
This is according to Dr Michelle Potgieter, Director of Corporate Marketing and Communications at Samsung South Africa, who adds, “Earlier this year, Samsung Launching People, in partnership with METIME, unveiled the Ideas Bank - a way to turn your entrepreneurial ideas into a reality, and help address the issue of youth unemployment in South Africa. Samsung created this technological platform for young local entrepreneurs, offering them an opportunity to voice their ideas and link them to expert partners for guidance.”
“Now once again, we invite young entrepreneurs to visit the Mixed Talents Ideas Bank, hosted by METIME, to find out how to take their ideas further and stand the chance of winning an amazing prize that has both monetary and mentorship components.”
Potgieter goes on to explain that the prizes offered for the latest local Mixed Talents competition will include another Trade Safe grant giveaway to three promising young entrepreneurs, who will each receive R 50 000 to help launch their business dream. “In addition, winners will be given access to over R 300 000 worth of invaluable business support tools from our partners, such as serviced office space for each organisation through Work Central and world-class coaching through Winning Edge.”
Potgieter continues, “To enter the competition, new users are invited to visit the Ideas Bank web application and submit their entrepreneurial ideas or aspirations. New users will need to build a professional profile to source the relevant support or information to take their idea or business to the market. Existing users should make sure that they polish and update their profile on the Ideas Bank, also completing new fields that have been added.”
With the ideas loaded, a team of business experts will scrutinize them and select ten finalists. Potgieter says, “The shortlist of finalists will be announced on 13 July and invited to present at a ‘Dragons’ Den’ style grand finale, taking place on 22 July.”
During this event - which borrows its theme from the popular television program in which budding entrepreneurs are able to share their ideas with a team of business experts who are prepared to reward the best idea - a panel of Samsung Mixed Talents experts and partners will choose the three winners.
“One of the distinguishing characteristics of the competition is that promising entrepreneurs are able to get real guidance and support by simply presenting an idea. In contrast, most business incubators stipulate that the entrepreneur needs to have actually established their business. We are extremely excited at the opportunity to offer another three entrepreneurs the chance to turn their idea into a business reality,” concludes Potgieter.