FABLab Namibia and Team Namibia boost entrepreneurial spirit

Local start-ups and established Small and Medium Enterprises were recently granted the opportunity to expand their horizons by participating in a business matchmaking event in the capital where they could pitch their products to potential investors with the aim of sourcing much-needed funds and other support services to stimulate business growth.

The initiative, known as ‘ADDventure,’ was organised by FABLab Namibia, a prototyping laboratory at NUST, and Team Namibia, an organisation that promotes local products, both champions of supporting top quality home-grown products .

The Director of FABLab Namibia, Kirstin Wiedow, said the event brings together talented individuals representing institutions in the financial, private equity, business coaching and marketing space to assist local businesses to grow.

Marita van Rooyen, owner of a start-up known as Suncycles, presented a solar-powered electric bicycle, the first of its kind, in Namibia.The bicycle is not only environmentally friendly, but it could possibly alleviate the transport congestion that motorists face in Namibia.

Bill Strauss’ creation of the Desert Cooker, a project he began working on 10 years ago, impressed many people with promises to deliver multiple outdoor cooking experiences for the local and international markets.

Other products and services on offer included handcrafted shoes, online shopping, organic detergents and luxury handbags. The business persons pitched their ideas to the panel of investors which included representatives from the Ministry of Industrialisation, Trade and SME Development, FNB Namibia, Stimulus Investments and Agra.

Oliver Horsthemke from FNB Namibia emphasised the importance of collaboration, and said that by creating partnerships with FABLAB Namibia and Team Namibia, a more positive impact, especially through innovation, could be made to grow the economy and ultimately the entrepreneurial space.

Pledges were made towards participants to assist them to gain market entry, access to loans at affordable repayment rates and provide training on the financial implications of every financial decision they make.

Date: 
Friday, December 11, 2015
for Month: 
December, 2015

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