17 Nov 2022 by sefa

OVER R2M IN PRIZES AWARDED TO VIBRANT SMALL ENTERPRISES

In the spirit of celebrating the 15th annual Global Entrepreneurship Week 2022, which was launched by the Global Entrepreneurship Network president, Jonathan Ortmans at the Inaugural National Presidential SMME and Co-Operatives Awards hosted by the Department of Small Business Development on 13 November 2022, five budding small enterprises walked away with prizes worth over R2million. These prizes are a culmination of 14 provincial boot camps for Seda's "Pitch for Funding" programme that has been running since June 2022 throughout the lengths and breadths of South Africa and attracted over 1000 small enterprises who pitched their business ideas. The provincial bootcamps resulted in 34 finalists competing in the finals held in Gauteng from which nine prevailed to head to the bigger stage, the Inaugural National SMME and Co-Operatives Summit held from 14 to 16 November 2022.

OVER R2M IN PRIZES AWARDED TO VIBRANT SMALL ENTERPRISES

After a round of competitive pitches from nine finalists, the judges decided on the following five winners: Molo Health from Limpopo took 5th position and was awarded R150k. Borotho Bakery from Gauteng took 4th position and was awarded R250k, Hydra Power from KwaZulu Natal took 3rd position and was awarded R300k, All Day Jam from Free State took 2nd position and received R500k and Namhla Collection from Eastern Cape took 1st position and was awarded the grand prize of R1million.

Seda initiated this programme with the aim of closing the gap between entrepreneurs' needs and investors' expectations. The ongoing challenge of access to finance by small businesses compels Seda to intervene in narrowing the gap and facilitating deal-making between entrepreneurs and investors.

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