Sanlam increases capital for start-ups

Sanlam Namibia has announced that as from this year, winners of the annual Sanlam Innovation Works Competition will receive N$50 000 each to boost their businesses. Previously the beneficiaries received N$20 000 each.

The Competition provides a public platform to offer start-up funding for projects at early-stage developments that address key issues in innovation. In the ever-changing industry, Sanlam Namibia believes that innovation can have an impact on all members of society. The winners will receive mentorship, training and advisory services from the Namibia Business Innovation Institute (NBII), and Sanlam Namibia.
The winners are Foster Digital Education Group, Lomoshi Trading, Omuriro Firefighters, Stec Leather and Worldview Investments.
These start-ups were selected from over 80 entrants for having the most viable business plans. Addressing the group, Ilke Platt-Akwenye, the Manager for Marketing and Communications of Sanlam Namibia, said: “It is important to ‘teach you how to fish’ and to support you along the way with mentorship and training in order to make your businesses more sustainable, than just to hand you the fish.”
The chosen start-ups focus on a range of innovative ideas from soilless farming to the manufacturing of eco-sustainable toilets.
Dorothea Mischo, reassured the entrepreneurs that they will receive all the assistance they need to ensure their success. “You will be mentored for an 8-month period, but please remember that our doors are open to you even after this time has lapsed.”
The entrepreneurs with the project that proves to be the most viable will be awarded an additional N$25 000 at an awards ceremony taking place in November.

Date: 
Friday, March 24, 2017
for Month: 
March, 2017

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