By Neo Kolane
The Global Entrepreneurship Network in partnership with Vodacom Lesotho Foundation has opened a platform for 800 young Basotho entrepreneurs, to expose them to international markets.
This was revealed at the launch of the Entrepreneurship World Cup (EWC) in Maseru this week.
The EWC is a global incubation contest open to aspiring young entrepreneurs across the world to pitch their business start-up ideas online on the global stage for a share of M17 million in prizes plus additional investment opportunities and a kind support.
The Vodacom Foundation is the corporate social investment arm of Vodacom South Africa.
During the launch, the executive head of legal regulatory and external affairs at Vodacom Lesotho, Tṧepo Ntaopane, said many youths who wanted to start their business find difficulties in getting loans from the banks, hence a need for Vodacom Lesotho Foundation establish a programme that will focus on entrepreneurship development.
When addressing the EWC, Ntaopane said this process is going to create networks which will make entrepreneurs be able to link up with potential markets apart from Lesotho and learn what other markets are available worldwide.
“The aim is that we want to create an ecosystem that grows and that will be advantageous to upcoming entrepreneurs.
“We found it critical to partner with the Global Entrepreneurship Network, so that we can create a platform that will give us visibility in order that Lesotho can compete in the world stage,” he said.
Seeng Lerotholi of Business Doctors, which is one of the sponsors of EWC, said EWC is open and is accepting applications until August 15 2022.
Lerotholi mentioned that contestants will unleash their ideas, hone their pitching skills and engage with a global network of mentors.
“The value proposition of EWC is all about the entire experience; training, resources, connections, mentorship, life-changing prizes, together with business opportunities and investment,” she noted.
She revealed that the eligibility criteria are that there is no entry fee and that any start-up business is welcome to apply for entry.
“Applicant(s) must be legally registered or planning to register in Lesotho. The applicant(s) business must not be over seven years at the time of finals,” Lerotholi said.
Vodacom Lesotho is the national host, offering prizes worth M1, 000, 000 in cash and kind towards the best Top Five start-ups from Lesotho.
Grand Prize: M200, 000
Best Growth Stage: M100, 000
Best Early Stage: M100, 000
Best Idea Stage: M50, 000
Best Social Enterprise: M50, 000
The prizes will also include a one-year incubation; coaching, mentorship and international study tour.
Register at www.entrepreneurshipworldcup.com
