entrepreneurs organisation announce winners of bootcamp to boardroom programme

Hi there You covered the call for entry for the Bootcamp to Boardroom programme. Here is the media release about the winners. I hope you'll use it in The Africa. EO Cape Town selects 15 start-ups for FREE entrepreneurship programme (Cape Town, Tuesday, 2 November 2021). Starting a business can be incredibly difficult especially if you lack social capital. This means having the growth mindset to succeed as well as access to social networks for mentorship, markets, and even funding. Not having these, can mean the difference between success or failure, especially in the early phases of a business. Small, medium, and micro enterprises (SMMEs) contribute significantly to the South African economy. Different estimates put the range between 30% (Bureau for Economic Research) and 34% (IFC), with even higher numbers to reflect their contribution to employment 50% to 60%. Of these figures, approximately 30.8% are formal, while 69.2% are informal and have little or no access to social capital. With the right investment, the informal sector has incredible potential to become the driver for economic and social growth, create job opportunities and reduce poverty. While access to funding is the number one reason why businesses fail, social capital and the human experience are equally to blame. There is a need to build entrepreneurs from the ground up and that means changing mind-sets and overcoming limiting beliefs. It's for this reason that the Cape Town Chapter of the Entrepreneur's Organization (EO) has launched Bootcamp to Boardroom which aims to support under-resourced entrepreneurs as they navigate the perilous first three-year phase of their business. This initiative is the brainchild of EO Cape Town Chapter President, Julia Finnis-Bedford, who is passionate about creating transformation and inclusivity within the EO organisation as well in South Africa. As a group that offers peer-to-peer networking opportunities for established entrepreneurs, Julia wanted to offer the same to start-ups in the informal sector. After a rigorous selection process, 15 Cape Town based entrepreneurs were selected out of hundreds of entries to participate in the six-month programme. Each participant had to show the social and economic impact their businesses had on their communities. The businesses selected, range from coaching and personal development, IT, cosmetics, education, to beauty, retail and distribution in hardware and grocery supplies. Bootcamp to Boardroom is being run in collaboration with Over the Rainbow Foundation and EO Diversity Chair, Luvuyo Rani, who began his own career as a teacher and social entrepreneur in Khayelitsha. He understands the entrepreneurial journey from informal to formal only too well and will be sharing his own experiences and learnings as he, along with other EO members, provides mentoring and coaching sessions for the Bootcamp to Boardroom participants. The biggest problems facing young entrepreneurs especially in the townships is infrastructure, many have no access to incubation centres or hub spaces that can assist them or test and prove their ideas. There is also a lack of social capital, or access to market and especially access to capital funding to scale. However, for those who can scale often the cultural gap is too big. We don't trust each other; we do not believe in our own and we don't give each other a chance. We can change this by delivering what we have promised, to be authentic and real and to not look for money but look at developing and growing our businesses. Says Rani. To ensure that participants are given holistic support, FURTHER, a human performance business that focuses on entrepreneurial growth, support, and sustainability, have partnered with EO Cape Town. The gap between the formal and informal sector in South Africa is very wide. Culture impacts on this and the only way to close the gap is through mutual exchange of expertise. There are benefits for both sectors to learn from each other, which is why we enjoy working with organisation's like EO who will get as much out of this experience as the entrepreneurs will. As part of our approach, which looks at developing an entrepreneur from the ground up, we'll be addressing issues like imposter syndrome and how to overcome limiting beliefs. Says Ian Calvert, founder of FURTHER. EO Cape Town aims to partner with local government to continue offering the programme to entrepreneurs in a long-term project called Entrepreneurs helping Entrepreneurs and play an active role in assisting under-resourced businesses succeed. Fifteen entrepreneurs selected for the Bootcamp to Boardroom programme: Unotida Nyoni: Grand Scale Consultancy (Burgandy Estate) Siyabonga Shaun Goniwe: Bits and Algorithm (Khayelitsha) Fortunate Ntombela: Definite Perfumes (Rondebosch) Akhona Ngxongxela: Supreme Burgers and Pizza (Mfuleni) Sikhangezile Sibanda: Touchstone Training Academy (Parklands) Aphiwe Mazamisa: Dollar Sign Concept (Northern suburbs) Ruth Noxolisa: WoowFoods (Bellville) Mandlakazi Molefe: Kids Spot Hair Salon and Pamper Parties (Tableview) Tobie Verreynne: Crosspoint Life Consultants (Langeburg Ridge) Marlon Alexander: Custom Steel Designs (Steenberg) Maria Earle: Nude Veggies (Heron Circle, Kommetjie) Dane Rossenrode: Touchdreams (Marina da Gama) Sive Swartbooi: Zulwi Group (Durbanville) Vimbai Dengedza: Amaka Mobile Beauty Webster Kushata: Nzum Nzum Group (Epping) For more information go to https://overtherainbow.co.za/bootcamp-to-boardroom/. ENDS Issued by Enhance PR on behalf of EO. For further information contact Gwen Sparks gwen@enhancepr.co.za or 083 443 0019 or Kim Barty 083 630 6861