Wednesday, July 30, 2008

Enablis and FNB launches R50mil Business Plan Competition

This year Enablis and FNB has once again joined forces to support new entrepreneurs with an exiting R50mil business plan competition. You need to hurry as the competition closes on the 30th of August 2008.

This year, the competition is bigger, with R 50-million in potential funding allocated for entrepreneurs, R 30-million more than last year. FNB, Seda, Microsoft, the Free State Development Corporation, the Sunday Times, Spier Earth Capital, Revlon, PostNet, Khula and other valuable sponsors and partners have joined Enablis to make it the biggest business plan competition ever run not only in South Africa, but on the African continent.

With 50-million in potential funding for entrepreneurs, there will be 30 winners selected from ten competition categories. This years categories include manufacturing, construction, agriculture, tourism, transport & logistics, IT, media, marketing & communication, “green” business, personal services and business & professional services.

A new and exciting category in the competition is the green/eco business category. R 10-million is allocated by Spier Earth Capital for the launch or expansion of environment related goods and services that can address key South African energy, water and pollution needs commercially. Spier Earth Capital is a new initiative of the Spier Trust.

The Free State Development Corporation has also allocated R 20-million in funding to promote entrepreneurs in the Free State start and expand their businesses. Entrepreneurs in the Free State have the opportunity to enter a provincial leg of the competition.

Previous winners’ businesses, ranging from fleet management software to food processing, have been funded with millions of rands as a result of the competition. A new innovation this year is that all entrants will be able to check their business plan score and the judges’ comments on the website after the competition has closed.

The competition will select 30 winners from 100 finalists, who will be chosen from entrants throughout South Africa. The finalists will present their business ideas to a panel of judges in Johannesburg made up of experienced South African and international entrepreneurs. Winners will also receive laptops, cell phones, software, business training and membership of the Enablis entrepreneur network.

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