The KwaZulu Natal Finance MEC and Treasury, the Honorable Peggy Nkonyeni paid a surprise visit to the innobiz DUT Centre for Entrepreneurship and Innovation three-day Hackathon Bootcamp that took place from Thursday the 16th of March to Saturday the 18 of March 2023.

The hackathon is a collection of business workshops, business mentorship and industry specific training from industry experts sourced to assist entrepreneurs in building innovative and sustainable businesses. The bootcamp is specifically curated for the thorough induction of participating entrepreneurs, to assist with their innovative and high-impact business idea.
This programme is in line with the Durban University of Technology (DUT) ENVISION2030 strategy, that highlights the institution’s goal to produce adaptive graduates. In his 2023 State of The University Address, the Vice-Chancellor and Principal, Professor Thandwa Mthembu described adaptive graduates as “graduates with the acumen to initiate, influence and respond to the changes in the world”.

The Honorable Peggy Nkonyeni addressed students on the important role small businesses play in alleviating poverty and unemployment in the country. She further encouraged students to be more creative and innovative when producing business ideas, to formulate ideas that will help the country’s economy and solve issues such as loadshedding, water shortages, food insecurity, infrastructure development and contribute to advancing medicinal solutions.

“Small businesses play a big role in the economy of our country, the government cannot do it alone, as Treasury we need young innovative people like you to combine forces with us in combating all the issues we are facing as a country,” she said.

The MEC advised students to explore outside their local boundaries and look for opportunities outside their region and nation, expressing that the future of the country is dependent on those innovations. The MEC further shared the government’s current plans to support Small, Micro and Medium Entreprises (SMMEs), stating that about R100 million has been injected into programmes that are aimed at accelerating small business, especially those founded by the youth.

The MEC’s plea for innovative ideas was concord by DUT Acting Deputy Vice-Chancellor: Research, innovation and Engagement (DVC:RIE), Professor Keolebogile Motaung, who encouraged students to pursue business ideas from their sector of study and to use the knowledge they gain from their course of study in the university to start innovative businesses that will not only operate for profit, but also contribute to social issues and the Sustainable Development Goals. Prof Motaung also encouraged students to grab this opportunity with both hands and use it to accelerate their businesses.

“Out of 300 applications, you have been carefully selected to form part of this bootcamp, it was not an easy selection, but we managed to select the most innovative businesses. 200 other students want this opportunity, do not take it for granted,” said Prof Motaung.

During her speech, the MEC paused to provide entrepreneurs with an opportunity to express the challenges they are facing and the assistance they require from the government. Students in various business sectors expressed concerns such as lack of young people in decision making positions which has led to solutions that are not relevant to the problems faced by the youth, the impact of loadshedding in their businesses and the lack of opportunities to implement their innovative ideas assisted by the government.

The MEC responded to the concerns with assuring entrepreneurs that the government is putting in all the resources available to respond to issues such as loadshedding, she further shared more opportunities made available by the government for SMMEs. The MEC concluded with urging student entrepreneurs to apply for all the government funding schemes and projects mandated to intervene in financially supporting small businesses.

Pictured: Founder/Managing Director: Fitness Junction PTY LTD, Dr Harija Mashego, Cayman LB Consulting Managing Member, Ms Lumka Sibanyoni, Finance MEC, Ms Peggy Nkonyeni, DUT Acting Deputy Vice-Chancellor: Research, Innovation and Engagement, Professor Keolebogile Motaung, innobiz DUT Centre for Entrepreneurship and Innovation Manager, Ms Nontokozo Ngcbobo and DUT Director: Advancement and Alumni Relations, Mr Zwakele Ngubane.

Photographer: Khonzinkosi Magcaba

Nontethelelo Mzizi