Key to the Business Ignition
Namibia Business Angel Network (NABAN) in partnership with Start Up Namibia have send out a call to the Nation. 10 Businesses from the 14 regions in Namibia gave their pitch and is receiving a lot more than the opportunity to pitch to investors.
The organisers has received 108 applications from all the 14 regions in Namibia. According to Jesaya Hano Oshike the head of business development.
“The difference in regional applications highlight the need for greater entrepreneurial development in the regions outside the Khomas region,” says Oshike. He further went on to explain that the majority of the applications was received from regions such as, Khomas, Otjizondupa and Omaheke regions . The coastal towns and the western regions however sent in the least applications.
One of the successful businesses that was chosen to pitch at the event was, Mindsinaction. They are a afterschool Science, Technology and Engineering (STEM) centre in Windhoek, where children receives the opportunity to get to learn coding and robotics, to name a few. Co-founder Ndaudika Mundudileni says that the experience has given him the opportunity to expose his business to investors as well as more opportunity to be known by the public.
A part of the 10 businesses that was chosen to pitch their ideas were, EBIKES4AFRICA, Beek Investment Group, Ohanga Energy, Tololi, Ngata Vocational Training Centre, Exclusive VIP shuttle Services, Fritz Da Investment, and Balistic Investments.
The requirements for companies to enter was, they had to be registered with BIPA. They must have generated revenue in access of N$250 000. The businesses must have a dedicated management team and must be needing an investment of up to 1 million. Lastly but one of the most important parts to starting a successful business, is having a scalable business model.
NABAN is an investors network in Namibia. The investors are from European and African countries that not only invests time, but money as well in young business ventures.
Involved with Start Up Namibia besides GIZ is, the City of Windhoek, Ministry of Higher education, and Technology Innovation (MHETI).
The pitching event took place virtually on 26 June 2021.