The Eight2Five Innovation Hub powered by Old Mutual in partnership with the British Council officially launched the 2021 edition of Value Creation Challenge (VCC) on Friday the 14th of May 2021. VCC is a nationwide opportunity set up to support businesses and start-ups that provide innovative and sustainable solutions to socio-economic and environmental challenges.
According to research, SMEs make up more than 70 percent of Zimbabwe’s businesses; employ 60 percent of the country’s workforce and contribute above 50 percent to Zimbabwe’s Gross Domestic Product. “We believe that over the long-term, creating shared values within our societies is the most sustainable way to improve livelihoods. This journey starts with transformation of how we do business through digital solutions, accessing skills, and technically assisting each other in our communities.” Old Mutual Group CEO, Samuel Matsekete
The challenge presents an opportunity to Zimbabwean entrepreneurs between the ages of 18 to 45 with startups less than 7 years in operation to grow their innovative businesses with the possibility of partnering with Old Mutual. Notable small businesses have honed their skills through the Value Creation Challenge program workshops including last year’s finalists Bespoke Delights, Asambe Mobility and Nezox investments.
The VCC shall avail seed capital to at least four businesses or start-ups that make it to the Accelerator Program which is set to begin in July this year. In addition to the seed capital, the selected businesses and startups stand to gain free office space at the exquisite Eight2Five Innovation Hub, mentorship, company development services in the form of marketing, human resources, and capacitation workshops.
Eligible businesses and start-ups are encouraged to apply before the 14th of June 2021, after which shortlisted applicants will be invited for interviews. The target for this year’s challenge are young businesses and startups that fall under the following pillars:
- Data Analytics,
- Emerging Technology,
- Digital Content Creation,
- Climate Action
- Young and Funky
For more information on the Value Creation Challenge, visit the website here