Today, Vodacom and Innovator Trust are unveiling the Youth Entrepreneurship Programme (YEP), aimed at equipping local unemployed youth with the requisite set of skills to become cutting-edge entrepreneurs.
The tailor-made youth entrepreneurial programme aims to drive innovations and create job opportunities that could bring significant changes to the local economy.
To kick it off, Vodacom and Innovator Trust are offering 10 unemployed youth, based in Gauteng, who graduated from the Vodacom Academy Programme a spot in the programme. During the period of six months, the qualifying youth will receive business training from experienced facilitators and gain insight into business acumen.
“South Africa’s youth unemployment statistics are shooting through the roof, with the unemployment rate for under 25s at 67.4%, showing that two out of three South Africans aged 18 to 28 are unemployed,” says Takalani Netshitenzhe, Chief Officer: Corporate Affairs at Vodacom.
“As a company with strong local roots and in partnership with Innovator Trust, YEP is part of our response to bolster our government’s efforts to curb the rising unemployment rate among young people in SA, given that entrepreneurship plays an influential role in driving economic growth and employment creation.”
YEP will relate to the overall business development support required for 10 Vodacom Academy graduates by supporting them with developing their business idea, business model, business plan and other business development areas. In turn the graduates will increase their potential of becoming an entrepreneur, thus also increasing their prospect of qualifying for a Full Business Incubation Programme.
The programme will include courses such as Pitching and Presentation Skills, Business Development, Marketing, Creating a Business Plan, Due Diligence and Compliance including CIPRO Requirements, Basics of Labour Law, New Companies Act/BEE, HR Management, and Financial Management, to mention a few.
“While there is no doubt that entrepreneurs, especially in the ICT industry, are highly skilled individuals, who understand their product or service, they often lack business fundamentals that are needed to grow an existing SMME business,” says Tashline Jooste, CEO of The Innovator Trust.
“This is why it is important for Vodacom and Innovator Trust to partner in launching this programme. This is not only the opportunity for us to change the face of the Industry, but to also point these young up and coming entrepreneurs in the right direction, so they can to make a success of their businesses.”