Sanlam supports upcoming businesses
17 March 2017 | Business
The initiative by Sanlam Namibia, the Namibia University of Science and Technology and Namibia Business Innovation Institute (NBII) provides a platform for start-up businesses with viable business proposals to access funding for projects that address key issues in innovation.
A joint statement issued by the three partners on Wednesday said the five finalists were selected from over 80 entries received.
These start-ups are World Investments (Kaveto Tjaitjara), Forster Digital Education Group (Fimanekeni Mbodo and Abraham Ingo), Lomoshi Trading (Louis Eiman-Shipanga), Omuriro Firefighters (Peter Til), and Stec Leather (Nengo Angula).
The winners were announced on Monday.
The five finalists will receive mentorship and training from NBII and Sanlam Namibia in order to fast-track the establishment of their businesses.
The final winner will be awarded an additional N$25 000 at the awards ceremony in November.
Speaking to Nampa on Wednesday, Tjaitjara, co-founder of World Investments, said their business focuses on the manufacturing of toilets that are easy to install and dispose of human waste in an eco-friendly manner that conserves energy and water.
He said they came up with the idea after visiting relatives in rural areas and finding out that they relieved themselves in the bush.
“We have built a prototype, but at the moment we are building a big model that we will be able to showcase,” Tjaitjara said.
He said with the funds they received, it will take them two weeks to complete.
The Sanlam Innovation Works Competition started in 2015, when ten entrepreneurs received N$20 000 each.