CUT Entrepreneurs Pitch Their Ideas to Investors

CUT Entrepreneurs Pitch Their Ideas to Investors. Education in innovation and entrepreneurship is transforming graduates from job seekers to job creators, enhancing the economy. Universities of Technology (UoTs) are fostering a culture of entrepreneurship, evident in initiatives like the pitching programme at the Central University of Technology, Free State (CUT).

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The Pitching Programme| A Collaboration for Success

In partnership with the provincial Department of Economic, Small Business Development, Tourism and Environmental Affairs (DESTEA) and Tabalaza, CUT hosted a pitching programme on 01-02 March 2018. This event invited aspiring entrepreneurs and investors with innovative business ideas to participate, aiming to drive economic growth and promote entrepreneurial culture.

Nurturing Innovation and Business Development

CUT units such as PDTS, CRPM, RGEMS, and the Technology Transfer Office are instrumental in nurturing innovative ideas. These units are leaders in prototyping, research, and business development, targeting emerging businesses with bankable ideas. The programme was a platform for independence, connecting entrepreneurs with potential investors, financial institutions, and training institutions to strengthen their growth prospects.

Empowering Entrepreneurs: The Pitching Experience

Dr. Mauritz Venter, co-founder and CEO of AZARGEN, conducted a workshop for CUT students and staff, guiding them on how to pitch to potential funders and build successful networks. Seventeen entrepreneurs from Free State participated, with three from CUT pitching their ideas. The top three winners were KN studios (1st prize), Batho Pele Innovations from CUT incubator (2nd prize), and Nkidi Manufacturing (3rd prize).

Each winner received a cash prize to invest in their businesses, with the first prize winner receiving R70 000, second prize R50 000, and third prize R30 000.

Driving Economic Transformation

Ms. Gadija Brown, HoD DESTEA, highlighted the department’s commitment to driving economic transformation and supporting SMMEs, recognizing them as key drivers of economic growth and job creation. The programme at CUT exemplifies the university’s dedication to fostering entrepreneurship and contributing to economic development.

Conclusion

Initiatives like the pitching programme at CUT are vital in empowering entrepreneurs, driving economic growth, and fostering a culture of innovation. Through collaboration and support, these initiatives are shaping a brighter future for aspiring entrepreneurs and contributing to the economic prosperity of the region.