By: Nghiinomenwa Erastus
Many deem the funding gap at a start-up level to be not well documented, an update from the Sanlam Bridge Programme indicated that they have received 258 applications.
Despite massive interest in the programme, it managed only to award seed capital, mentorship to five entrepreneurial ideas, concepts, and startups to enable their growth prospects.
Sanlam general manager for brand and people, Evans Simataa announced the winners of its entrepreneurial support programme Thursday.
The programme which was launched earlier this year to replace the Sanlam Innovation- a launchpad for Namibia’s young future business leaders.
Those who have innovative and exciting business ideas but lack the necessary resources to turn their ideas into reality or grow their business.
Simataa explained that entrepreneurs are national assets to be cultivated, motivated, coached, and adequately supported to the greatest possible extent.
As the country aspires to restructure its economy and diversify away from the extractive sector dependence, Simataa said the application showed a diversity of business ventures.
He said the high interest in the Sanlam Bridge which received over 200 applications “shows there is a high appetite for business in Namibia”.
Simataa has also highlighted that if the country wants to truly turn around its economy and diversify it, young people need to be capitalised (monetary and skills).
“We have to invest in our young people,” he stated.
Beyond food banks and proposed grants to bridge the gap in income inequality and reduce poverty, entrepreneurship can offer sustainable solutions.
According to Simataa, entrepreneurship has the ability to improve standards of living, create wealth and jobs, and contribute significantly to poverty reduction.
He is of the view that entrepreneurs, besides contributing to economic development, also help drive change with innovation, introducing new and improved products.
The five ideas, concepts, and start-ups awarded are Stimu Box Sensory Play Creations – is an online store that produces and sells personalised sensory boxes by order.
They offer a variety of items that help children to explore and learn about the world through their senses.
Ndaka Mushrooms-which process fresh oyster mushrooms into dried mushrooms, mushroom soups, mushroom snacks, and pickled mushrooms.
Taxi Connect – a ride-hailing platform to request a taxi, catering for all suburbs and catering for middle income and students.
Petwa Medical Practice – is a clinical research centre that will conduct clinical trials in Namibia, with vaccination hesitation the centre aspires to fill the gap in providing domestic-based clinical evidence.
Greenville Solars – is capitalising on the ability to harvest solar energy by engaging in the distribution of portable solar lights and phone chargers. Enabling those off-grid to be electrified and have a source of energy.
The businesses are all at different stages of their entrepreneurial journey but will all walk away with a cash prize of N$50 000 seed capital from Sanlam.
Additionally, mentorship has been highlighted as an important ingredient for entrepreneurs- the five entrepreneurs will also receive support, mentorship, and coaching from StartUp Namibia.
StartUp Namibia has partnered up with Sanlam in a pro bono case to help facilitate this programme.
The top five businesses are expected to meet set criteria and achieve set goals and milestones to be in the running for the overall Sanlam Bridge winner who will walk away with an additional N$50 000 cash prize to further invest into their business.
“From the onset think regional,” advised StartUp Namibia GIZ Project Manager Anna Vambe.
Vambe explained to the entrepreneurs that they should not limit themselves to the domestic market but think globally always.
She said given the country’s purchasing power, one needs to think beyond and reach markets outside the country- with the AfCFTA theoretically implemented markets open up within Africa.
Vambe noted that the Sanlam Bridge does not only provide young people with the much-needed financial support, but it gives them the necessary support which will help ensure they go the distance with their business.
Commenting on the entrepreneurship atmosphere she said that “even now, in the midst of COVID-19, young people are coming up with innovative business ideas that respond to the needs of everyday Namibians.
The Sanlam Bridge Programme is part of the company’s corporate social responsibility.
It aims to create future business leaders in Namibia, promote business innovation and leadership, and promote employment creation.
By allowing young people the opportunity to develop their own businesses and thereby earn their own income. Email: erastus@thevillager.com.na
