The Durban University of Technology’s (DUT’s) Midlands Entrepreneurship Centre and Student Desk held a four-day Bootcamp at Sica’s Guesthouse in Durban last week, to train and select student entrepreneurs who will participate in the Urban Innovation and Entrepreneurship competition.
One of the few to make it through to the next round of the Urban Innovation and Entrepreneurship competition was Terrence Fumba. Fumba is the founder of Chargeo Leatherware. The Urban Innovation Competition is an intervarsity business competition that focuses on how businesses are playing a role and the impact businesses have in the United Nations Sustainable Development Goals.
“I joined the entrepreneurship desk to receive mentorship, guidance and practical skills that I can apply to my business to scale up our operations. We are also seeking funding assistance from the entrepreneurial desk. I am grateful to Dr Dumisani Zondo, Head of the Department of Entrepreneurial Studies, Mr Lewis Kaplan for mentoring me during my time with their department and would like to thank Mrs T. Khumalo Head of Applied law for the support she is giving me in terms of the masters studies,” he said.
Explaining what his business is about, Fumba said: “At Chargeo Leatherware, we design and produce high quality genuine leatherware and accessories such as custom-made leather belts, shoes, sandals, slippers, wallets, backpacks, handbags, laptop bags, cooler bags, lunch box bags, grocery bags, bangles, wristbands, wrist-watch belts, caps, hats and much more. Our aim is to add value to our customers by offering high quality genuine leatherware at prices they can afford, far more reasonable prices than our competitors.”
The competition awards and bonuses for winners are: Gold award- 1 with a bonus equivalent of 100 000 RMB, Silver award- 2 with each receiving a bonus equivalent of 50 000 RMB, Bronze award- 3 with each receiving bonus equivalent of 20 000 RMB as well as the Outstanding mentor award- 6 principal mentor of the first and second prize winners with each receiving a bonus equivalent of 5 000 RMB.
“The advice I would give to young DUT entrepreneurs is to be observant around their community and surroundings always looking for problems they can solve and make a profit while doing so. Once you have a solution to an existing problem visit the DUT entrepreneurial desk for guidance in making that solution a reality,” said Fumba.
Pictured: Terrence Fumba and his business logo.