Ten studentpreneurs from the innobiz DUT Centre for Entrepreneurship and Innovation recently participated in the 1st Annual Asset Class Summit, where they had an opportunity to share their entrepreneurial journeys, showcase their products and connect with entrepreneurs, potential clients, investors and funders.
The opportunity formed part of innobiz DUT’s entrepreneurship development and incubation programme, which aims to expose studentpreneurs to market linkages, potential clients and investors. The ten studentpreneurs exhibited their products at the summit, which was headlined by renowned South African entrepreneur, venture capitalist, investor, global public speaker and author Mr Vusi Thembekwayo.
Held at the Olive Convention Centre in Durban, the 1st Annual Asset Class Summit brought together visionaries, investors, entrepreneurs and industry leaders to explore opportunities in property, business and wealth creation.
The event provided a platform focused on growth, innovation and building sustainable economic futures, featuring speakers from various sectors of the entrepreneurship landscape.
For the innobiz DUT studentpreneurs, the summit provided an opportunity to network with fellow entrepreneurs, potential clients and investors, while gaining exposure for their businesses and products.
In his address, Mr Thembekwayo challenged the audience to reconsider perceptions around wealth and poverty, particularly the stereotyping of Black wealth as a crime and the perception that poverty is the natural state of Black people.
“If we do not change our relationship with wealth as a people, we can have workshops as much as we want, join programmes, go to incubators and raise funding, but we will always be poor because the heart gravitates to what it believes is its natural state. We were taught to think like this, this is something we were educated and taught,” Mr Thembekwayo said.
He also encouraged entrepreneurs to free themselves from the need to be liked by others in order to pursue their purpose.
“Until you are free of the need to be liked, forget your ability to be wealthy, those two things are mutually exclusive. My own experience tells me that people will like you after you’ve arrived at your destination and then they will say ‘we knew it’ and ‘we grew up with him or her’. I pray that you have the courage to be disliked,” Mr Thembekwayo said.
Other speakers included female entrepreneurs Dr Lungile Mhlongo, Founder and Director of Numa Medical Aesthetic; Dr Thandi Ngxongo, a chemical engineer with experience in the petroleum sector and owner of several fuel stations; and Ms Sanelisiwe Ngcobo, a conveyancer and Founder and Managing Director of Ngcobo SN Inc, a multi-regional law firm specialising in property law and conveyancing.
The speakers highlighted the role of education and continuous learning in their entrepreneurial journeys.
Dr Ngxongo emphasised the importance of investing in education and continuously upskilling as an entrepreneur.
“Education in entrepreneurship is very important, whether it’s through formal or informal education. It’s very important that you upskill yourself as an entrepreneur because the only way we can grow is when you have knowledge, and knowledge is in the books.
“We need to love reading, all the time, whether you are in a taxi or flying you need to read something because that’s the only way. They say leaders are readers. Personally, my inspiration to register for my MBA was the fact that I want to own a garage, that was my vision,” Dr Ngxongo shared.
She also highlighted the importance of planning, explaining that she had developed a five-year plan before purchasing a fuel station. This included studying the business, identifying weaknesses and recognising opportunities.
Ms Ngcobo shared that entrepreneurship was not simply about luck, but required planning, execution and accountability.
“I knew I was definitely a good lawyer, but I invested in myself by getting a business coach because I had to be accountable as I was being given homework to do. It’s painful to be criticised but I knew where my weak points were and I dealt with them so that by the time someone tries to project it just doesn’t land,” Ms Ngcobo said.
Dr Mhlongo shared how her medical background and personal experience with a skin condition influenced her decision to enter the skincare business and develop products for people experiencing similar challenges.
The three female entrepreneurs also highlighted how education can help structure an entrepreneur’s thinking, enabling better planning and strategy.
Mr Thintani Dlamini, innobiz DUT Business Support Coordinator, said exposing studentpreneurs to platforms such as the Asset Class Summit creates opportunities for market linkages, funding, investor engagement and client development.
“Such events provide a diverse offering of people from the entrepreneurial space who might have a critical linkage to the markets for our entrepreneurs. There is also a wealth of information that will be shared by prominent speakers at this event that will be critical to the student entrepreneurs’ development.
“The event will also provide them with a chance to soak in knowledge from people who have many years of experience in the entrepreneurship space, people who are mentors and business owners who have encountered and navigated challenges in this journey. This will assist our young entrepreneurs to find ways to navigate challenges and obstacles that they also face in business,” Mr Dlamini said.
Ms Nontokozo Nkosi, an innobiz DUT incubatee and founder of Nkosi’s Beauty Products, said the opportunity to exhibit her products at the Asset Class Summit was a significant moment in her entrepreneurial journey.
“It means a lot to me as I got time to network with some big and prominent names in the South African entrepreneurship landscape while having the opportunity to showcase the products that I have. There were opportunities for networking and possibly collaborations and getting new clients and funders,” Ms Nkosi said.
Mr Kwanele Myeza, also an innobiz DUT incubatee and founder of clothing brand KSM Textiles, said the summit provided exposure to people who could support his brand through customer sales, market linkages, industry connections and potential funding.
“At such events we get exposed to different target markets and through interactions with them I get to improve as this enables me to go back to my brand and see what alterations and improvements to my products and customer services,” Mr Myeza said.
Pictured: Thokozani Buthelezi, an innobiz DUT incubatee and founder of MYCO FEEDS exhibiting at the Asset Class Summit.
Samkelo
