The Value Creation Challenge (VCC), an initiative powered by Old Mutual and the Eight2Five Innovation Hub, has revealed the ten outstanding finalists who will progress to the next phase of the program. Designed to equip innovative start-ups and small business owners across the country for success, the VCC offers business development support, coaching, funding, and acceleration opportunities.
Following a rigorous screening process, a demanding boot camp, and a challenging pitch session, these ten finalists will now enter the highly anticipated acceleration round, where they will vie for a spot in the top three and the grand prize.
The top ten include Clean ZIM, Dawa Health Zimbabwe Ltd, Farmbuzz Agriculture Solution, Lifetime Publishing House, Mumoch Enterprise, Nyasha Textile Studios, Save More Tomorrow (SMarT) Wealth, Taxpal Zimbabwe and Zimbabwe Flying Labs
The benefits of the Value Creation Challenge extend beyond the winners, thanks to an invaluable alumni program facilitated by esteemed partners such as the British Council, the British Embassy, and EFT. With an impressive journey thus far, the VCC received a staggering 533 applications in April, narrowed down to the top 50 in May, and further refined to the top 25 start-ups who underwent an intensive boot camp last week.
Notably, this year showcased a notable increase in female-led start-ups, with 44% of the top 25 comprising female founders.
The boot camp delved into essential business aspects, including intellectual property, finance, compliance, marketing, and governance. Start-ups had the opportunity to gain in-depth knowledge on building sustainable businesses and put their newfound insights into action during the pitch event held on Friday, June 9, 2023, at the Eight2Five Innovation Hub.
The event provided networking opportunities and fostered the sharing of experiences among fellow start-ups, paving the way for potential collaborations and partnerships.
As part of the program, one-on-one mentorship sessions will be provided, where mentors will assess each start-up’s unique challenges and opportunities, crafting customized roadmaps for success.
Participants will also benefit from access to practical workshops and free workspace at the Eight2Five Innovation Hub in Harare.
Additionally, the top three start-ups that demonstrate significant progress by the end of the incubation program will be rewarded with cash prizes, propelling their growth and opening doors for potential partnerships. Beyond the monetary rewards, the true value lies in the skills and relationships fostered throughout the journey.
The Value Creation Challenge has played a pivotal role in nurturing purpose-driven start-ups in emerging technology, fintech, sustainability, and creative industries, enabling them to establish sustainable businesses. Its alumni program continues to provide ongoing opportunities for start-ups to achieve their goals and scale up.
The funding and support offered by the VCC have been instrumental in the success of companies like The Noble Savage and Nhanga Trust.
Ultimately, the Value Creation Challenge acts as a catalyst for growth, fueling progress and extending opportunities. It creates an enabling environment for start-ups to unleash their creative potential, acquire new skills, and forge critical partnerships. Perhaps this VCC will ignite the spark of the next groundbreaking idea that revolutionizes the Zimbabwean economy. The future shines brightly for start-ups, with the Value Creation Challenge leading the way.
