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Tuesday, November 29, 2022
HomeNewsOld Mutual Launches Value Creation Innovation Challenge

Old Mutual Launches Value Creation Innovation Challenge

Old Mutual Zimbabwe in partnership with British Council and B2C launched the Value Creation challenge in Harare this week.

The Value Creation challenge is a nationwide competition aimed at supporting ideas that provide innovative and sustainable solutions to socio-economic challenges.

The group CEO for Old Mutual Zimbabwe, Mr Jonas Mushosho, said his organisation is fully committed to supporting the development and growth of the Zimbabwean economy. They believe that value creation is the reason why organisations exist.

“The Value Creation Challenge is more than just a competition, in our view this is the founding block of future big business which will lead to wholesome economic growth for the nation,” he said.

Old Mutual, he said, believes that value creation is the reason why organisations exist.

“It is also probably the single driving force for economic growth and prosperity. As a customer centric organization we are very much aware that the reason we have customers and shareholders is that they believe in our ability to create value,” he said.

The value creation challenge marks the first major event being carried out by Eight2Five, an entity that Old Mutual and its partners have set up to drive innovation in existing industry and creating new enterprises.

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It will run innovation challenges, incubate new ideas, accelerate & grow new businesses, provide co-working spaces, among other things.

Mr Mushosho said Old Mutual has positioned itself in a market where the consumer has so many choices.

“We see customer centricity as a journey, not a destination and realised that consumers are changing, as is technology as is the competition. So companies need to keep refreshing their customer proposition to stay relevant and competitive,” he said.

Speaking at the same occasion, Roland Davies, British Council Country Director, said that arts was central to what his organisation does in the world and in Zimbabwe there was strong potential in terms of creativity.

“We see the opportunity and the need for the arts to support a growing economy. And particularly amongst young people, the creative economy, that includes traditional and contemporary art forms such as web design, publishing, gaming, animation, offers the possibility of people being able to earn a living,” Mr Davies said.

The Value Creation Challenge is open to Zimbabwean citizens between the ages 18 to 35 years. Applicants can submit their applications from 1st August 2019 till 13 September 2019 on the dedicated value challenge website.

The project entries will be evaluated fairly by a team of specialists in the business, innovation, incubation and start-up space.

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The top ten winners of the challenge will receive business support, mentoring, and rent free office space for a period of six months.  In addition, the top three winners selected by a panel of jury members will receive seed capital for their ideas.

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