KBL Picks 15 Kickstart Winners
Cavin Kanoko | Monday January 20, 2020 14:35
KBL said it received about 5,000 applications, which were then shortlisted to the top 50 where they selected top 15. The programme is open to entrepreneurs between the ages of 18 to 35.
Apart from the start up capital of up to P200, 000, winners also get 12 months mentorship, training and coaching. To date about 300 young people have received training whilst 75 projects have been funded since the inception of Kickstart.
The top 15 comprises enterprises that required funding to expand their scopes of business and transform their business model.
According to the Ministry of Investment, Trade and Industry (MITI), the scheme support government’s initiative of empowering the youth through entrepreneurship.
The programme, which has had a 70% success rate according to the MITI, is said to contribute significantly towards economic diversification streams amongst youth who have transformative, creative and innovative ideas.
The Ministry also noted that by facilitating growth of these small businesses by providing access to capital risk capital and business assistance can empower them to overcome the growth impediments.
It can also lead to production of higher value-added products or services that are internationally competitive. “I urge KBL to expand the programme to ensure training focuses on developing entrepreneurial mind-sets such as the knowledge required to the an entrepreneur is not only related to professional practice in running a business but also to skills and attitudes,” said Trade Minister Peggy Serame at the award ceremony last week. “We further recognise the immense investment on the programme which allows young people to exercise their optimism, spurred on by the desire to change their lives and those around them for better.”