The second Entrepreneur Internship Programme (EIP), launched in January this year, will bring 23 established companies and seven new start-up entrepreneurs into an accelerated business development coaching experience, funded by Zimele’s recently launched Sebenza Fund. This second programme is a collaborative initiative between Zimele, Anglo American’s supply chain department and implementation partner, Aurik Business Incubator.
The EIP offers start-up entrepreneurs intense business development support for 12 months. This involves assistance through the lifecycle of entrepreneurship, including how to start, stabilise and grow a business as well as networking and engagement skills. A modest monthly stipend given to the start-up entrepreneurs is aimed at helping them focus their energy and resources on building their business.
Given the priority of creating new businesses and generating a significant number of jobs in South Africa, the launch of the second EIP is well-timed. Entrepreneurship is a key enabler in contributing towards a sustainable economy and contributing to social development.
The EIP was developed by Anglo American’s supply chain to provide business development support, mentorship services and other assistance to emerging or existing high-calibre entrepreneurs in South Africa. The first programme produced five successful start-up entrepreneurs in March 2013, who collectively have created 60 additional jobs.
After an extensive search, 845 initial applicants were carefully considered and a shortlist produced of 134 (70 established businesses and 64 start-ups). The selection process involved an initial online application, followed by an entrepreneurial aptitude assessment and an interview with Aurik Business Incubator. The final 30 entrepreneurs were chosen over four days of in-depth panel interviews in late September 2013.
The entrepreneurs were chosen based on broad criteria with a special focus on their ability to generate a significant number of new jobs in the market over the next two years. Other selection considerations were the strength of the lead entrepreneur in the business and the business case for taking the company to the next level.
These entrepreneurs span a diverse range of industrial and business sectors, namely technical and engineering services which supply the mining industry; electrical and energy management companies, through to commercial entities in construction, hardware, paper, pallet, health, tourism and stationery.