Old Mutual’s Value Creation Challenge opens

BUSINESS REPORTER

Entries to the 2023 Old Mutual Value Creation Challenge (VCC) for young entrepreneurs in Zimbabwe officially opened Friday, Business Times can report.

The competition runs up to April 7, 2023.

Old Mutual, the country’s leading financial services group  runs the VCC in collaboration with its partners, the British Embassy, the British Council and EFT Corporation.

This year’s VCC, which was  officially launched on Friday in the capital, is targeting entrepreneurs and startups whose businesses are at most five years and these should these should be operating in areas such as emerging technologies, fintech, creative industry and sustainability.

The program is designed to provide professional business development and learning opportunities, business linkage opportunities and financial support to entrepreneurs.

Successful entrepreneurs will benefit from one on one mentorship session from the members of the Old Mutual executive committee, business development skills and intellectual property training from internationally trained professionals and office space at the Eight2Five innovation hub run by Old Mutual.

The winners will also have access to potential investors. Most importantly, the entrepreneurs will also be given seed funding to grow their businesses.

In a speech read on his behalf, Old Mutual group CEO, Sam Matsekete said: “We want more female-led businesses and persons with disabilities to enter the challenge this year.

We are firmly thrust towards leveling the playing field and offering opportunities to all.”

He added: “The VCC application site is already up and running at 8am this morning (Friday) and will close on April 7, 2023. The launch of this program today (Friday) has also shown me the power of collaboration and the value that it can unlock for economic  development to my respective colleagues in the business community. Let us find  more ways to collaborate and build up the SME sector.

“To the startups, harness this opportunity and take full advantage of it. Today is the beginning of a fantastic journey once you apply for the VCC.”

Martin Alsop, the deputy development director and head of green growth  at the British Embassy  said: “We are excited about this (launch of the VCC program).SMEs are the lifeblood of any economy, creating jobs, driving innovation, solving some of societies  most pressing problems and  delivering  economic growth. We are keen to strengthening  UK-Zimbabwe links, harnessing our networks and expertise to increase trade and investment.”

Chipo Kanyumbu, the programs manager of British Council  weighed in saying: “Through the VCC, our ambition is to build connections, networks and insights, ensuring that creative industries get access to financial and intellectual support that will help improve business growth and provide access to markets and potential investments.We are therefore encouraging businesses from the creative industries to  take this opportunity and respond to this year’s challenge for a unique, transformation experience.”