KBL to unveil kick start beneficiaries
Isaac Pinielo | Monday February 9, 2015 15:42
Kickstart is a youth entrepreneurial programme aimed at supporting youth that want to either start-up or expand their businesses.
It is executed in such a way that it covers related elements of budget setting, panel reviews, training and mentoring.
Mokoro Ketsitlile, the KBL corporate communications manager, told Business Monitor that in the second run of the Kickstart competition they received about 3,400 applications.
He stated that a month following the completion of their training, the 50 businesses selected for this cycle of the competition have recently submitted their final targeted business plans to the judges for adjudication.
“The potential number of winners is not hard and fast, but is based on applicants being able to undoubtedly demonstrate a compelling business case that is well thought out, sustainable and shows a potential for impact,” Ketsitlile said.
He further explained that traditionally, a budget is never set for the beneficiaries per se. He added that following the presentation of final business concepts to the judges, the best business ideas are selected and thereafter a determination and due diligence is performed.
Now in its 10th year of existence, Kickstart continues to provide financial and mentoring support to winning business ideas in the form of grants, business training and mentorship. The grants range from P10,000 to P250,000, and mentorship takes place for a period of 12 months.
Over the last decade, Kickstart has availed over P10 million in grants, making it one of the largest private sector entrepreneurship development projects in Botswana.
To date, Kickstart has trained over 140 young entrepreneurs, enabling more than 35 small businesses to be set up across various sectors of the economy. Ketsitlile also emphasised that sustainable development and enterprise are an integral part of KBL’s long-term sustainability, helping to create jobs and wealth within the communities.
“We at KBL firmly believe that successful entrepreneurs meet the needs of consumers, create jobs and improve local incomes. In turn, economic growth provides greater market opportunities, better qualified employees and healthier communities for our companies,” he pointed out.