Sanlam today announced the 5 business recipients of its 5th edition of the Sanlam Innovation Works. The initiative, undertaken in conjunction with the Namibia Business Innovation Institute (NBII) of the Namibia University of Science and Technology (NUST) aims at inspiring and unlocking the passion in Namibia’s young and aspiring entrepreneurs.
As expressed by Hilaria Graig, Sanlam Marketing and Communication Manager “Sanlam views entrepreneurship as critical and playing a crucial role to the future of the Namibian economy”. To date the project has supported 21 upcoming entrepreneurs with start-up capital, coaching and mentorship needed to get their businesses off the ground. This year the 5 business recipients will each receive N$50,000.00 as seed capital from Sanlam and soft skills training, capacity building and mentorship from NBII to support them on their business journey.
Speaking at the announcement event, Hilaria Graig encouraged the 5 business recipients to remain focused on their goals and take advantage of the opportunities afforded to them. Graig also reiterated Sanlam’s commitment to the project and emphasised the importance of entrepreneurship as an effective weapon in countering unemployment and eradicating poverty. She further thanked NBII for the support they’ve provided to the project since its inception 5 years ago.
This year Sanlam received over 100 applications for the project of which 15 businesses were selected to pitch their business ideas to the team and thereafter the top 5 businesses were selected.
The 5 business selected to participate in the Sanlam Innovation Works for 2019 are:
1. Motlee HR Systems
2. Chi-chi -app
4. NamBush Feeds
Speaking at the same event, NBII Manager Entrepreneurship and incubation Bernice Ndungaua encouraged the business recipients to continue working on their business past the competition and to give it their all.
She also stressed the importance of funding coupled with training saying that “training with funding is really only part of the overall solution”. Ndungaua thanked Sanlam for its continued support towards the project.