Top business ideas get financial kick

The annual Business Plan competition run by the Business Innovation Centre at the Polytechnic, is now also supported by the Development Bank. Recently, the Innovation Centre announced the winners of this year’s best business plans.
The exciting event rewarded aspiring entrepreneurs for the innovativeness and viability of their business plans as well as the ability to do business within the local economy.
Bernice Karuhumba, Manager: Entrepreneurship and Incubation at the Namibia Business Innovation Centre said “all business plans submitted were taken through the Namibia Business Innovation Centre’s internal, as well as external assessments. The plans were rated according to the usefulness, viability, growth potential, sustainability and innovativeness.”
The Namibia Business Innovation Centre with assistance from the Development Bank of Namibia , Namib Mills and Agra was able to present the top three candidates with substantial prizes for their hard work.
The first prize was presented to Kennedy Shindodi of Brain-Child Technology, who received a cheque of N$15,000 sponsored by the Development Bank of Namibia plus N$800 and a gold medal sponsored by ARIPO.
Edwig Theodor of Kingly Fish came in second and received a cheque of N$8,000 sponsored by Namib Mills. The third prize went to Justus Sheefeni Mwafongwe of Shefi Inn, who received a cheque of N$5000 sponsored by Agra.
Each of the three winners received a N$2000 voucher to attend training courses and workshops at the centre. FNB ensured that the four runner-ups did not walk away empty handed by sponsoring each of them N$1750 as a deposit to open a business account.
Karuhumba encouraged participants to see this as a stepping stone in helping them establish their own business. “The winners should view themselves as role models in their respective communities and help inspire other aspiring entrepreneurs to take part in this competition.”