TVET students shine in Standard Bank Entrepreneurial Competition

In a country where skills and experience are at the top of most employers’ checklists, technical, vocational education, and training (TVET) colleges are focused on producing artisans and trade professionals that meet the needs of South African commerce and industry.

The recently completed 12-month Standard Bank Entrepreneurial Competition and training programme helped to level the entrepreneurial playing field for the 50 colleges nationwide by identifying potential business talent from these colleges. Initially attracting more than 500 applications, the programme saw 41 TVET student winners graduating and collecting their ‘Business in a Box’ programme certificates in March 2024.

“By supporting the ‘Business in a Box’ programme in association with its developers, the Youth Innovation Entrepreneurship Design Institute (YIEDI), we were able to ensure that students, whether at rural or city-based TVET colleges  received the  same material and training , so that they could sharpen and prove their business abilities while competing against each other, says  Johan De Ru, the Head for the Education Sector in Standard Bank’s Business and Commercial Business Division.

The training material in the ‘Business in a Box’ given to each of the qualifying entrants covered all aspects of business. Material included courses on the fundamentals of cash flow management, the importance of maintaining separate business and personal accounts, managing cash flow, bookkeeping, and taxation. The objective was to ensure that Standard Bank helped those with an entrepreneurial outlook by giving them a head start on the practicalities needed to build sustainable businesses and provide job opportunities for others.

“The TVET entrepreneurship programme, the first of its type undertaken by Standard Bank, recognised that entrepreneurs exist in all sectors of South African society and acknowledged the contribution of TVET graduates to the SA economy. Participants wishing to enter business after completing their studies were given the opportunity to learn about building an enterprise and assimilating the skills needed for future success,” says De Ru.

The transformative journey for the students began in May 2023, when aspirant TVET students submitted applications to join the comprehensive programme. Those selected from the original entries then completed a multifaceted training process, which included a business pitching session in which student business ideas were tested by a panel of seasoned entrepreneurs, Standard Bank, and YIEDI representatives.

Winners also qualified to have their businesses brought to life by having their companies registered. They received advice on branding and were offered opportunities to take advantage of personal mentoring with sessions led by seasoned entrepreneurs. 

In true 21st century ‘business pitching’ style, voting for winners went public. Of the votes, 50% of those cast for individual students were derived from Instagram voting

“It was inspiring to see the range of activities presented as business ideas by the winners. Some of the companies selected offered ideas about agriculture, technology, construction, food, and catering. Others looked at more traditional sectors such as manufacturing and technology,” says De Ru.

“We do not doubt that those who graduated will play a positive part in building South Africa’s economy. We are proud that Standard Bank was able to help them formalise and launch their businesses and we wish all graduates the best with their future endeavours.