An innovative business idea has seen two young Soweto businessmen become the first winners of the Branson School of Entrepreneurship 2007 Soweto Business Plan Award.
Speaking to the press, the winners said they had simply identified a gap in the market which involved keeping youngsters entertained in a safe and controlled environment.
"We have established seven containers [or centres] that house computers games, Playstations and other entertainment for the youth,” said Maphongwane, explaining how his business plan encourages children to stay off the streets.
"Being an entrepreneur is not only about making money - you can also tackle social problems with an entrepreneurial mind,” said Branson.
The competition was launched in October 2007 and attracted over 50 entrants. The selection and judging process was managed by the Branson School of Entrepreneurship.
"The quality of the business plans was very impressive. Over 60% [of the entrants] were already registered as CC & (Pty) Ltd," said James Wanjohi, Head of the Branson School.
The school was started in 2005 and forms part of CIDA City Campus, South Africa’s free university. The school aims to encourage the growth of innovative business development in South Africa.
“I believe that increasing entrepreneurship in this country is the golden highway to economic freedom, plus it's an exciting and fun way to make a living,” says Branson.
Maphongwane and Mtsolongo also won mentorship and training from the Branson School of Entrepreneurship in areas of legal services, intellectual property and information technology law. The pair will also receive brand design and creative work by Grid Design and state of the art cell phones from Virgin Mobile.
Source: BuaNews and SAGN
