The Mpumalanga Stainless Initiative (MSI) will from next week run an entrepreneurship programme to assist young people to effectively start businesses or scale up existing small businesses into high-growth ventures, through structured entrepreneurship training.
MSI is a nonprofit technology business incubator established by the Mpumalanga Department of Economic Development and Tourism (MPDEDT) in 1999 and is strategically supported by stainless steel producer Columbus Stainless.
The main purpose of the MSI is to structure relevant business and technical development support mechanisms, as well as to forge strategic partnerships with corporates and government, to stimulate economic growth and sustainable small, medium-sized and microenterprise (SMME) development through incubation.
MSI centre manager Matlou Hector Makgato said in a statement released on January 25 that the training will enable young people to participate in the steel fabrication industry and also assist them to access more attractive markets and create 60 new jobs by end of the year.
Makgato further stated that the programme would equip successful participants with relevant skills to refine their business models into high-growth potential, sustainable businesses through comprehensive technical and business development support mechanisms, as well as linkage to markets and funding opportunities.
“The aim is to assist the Mpumalanga-based startup companies or SMMEs that manufacture steel products or offer steel fabrication and related services to the domestic and industrial market. Those who already have existing companies and seek to diversify their products/services to expand or enter new markets are also welcome to submit their applications.”
“We will also assist unemployed young artisans and entrepreneurs with feasible new products or services that seek to address identified market opportunities or problems in the steel fabrication sector. Those who have unique or new ideas that can be demonstrated or validated for their potential to provide their business with a unique competitive advantage are also invited to be part of the programme," she noted.
Makgato said MSI’s call for applications was aimed at increasing the participation of unemployed youth, especially women, people with disabilities and previously disadvantaged individuals, in manufacturing steel products and related services.
“While the focus is in speciality sectors like mining, energy, engineering and advanced manufacturing, solutions that serve domestic markets such as manufacturing of security gates, braai stands and building materials like window and door frames are also welcome” Makgato said.
Applicants can download an application form. A complete application must be supported by a business plan, proposal, company profile, definition of business or product idea. The applications will be adjudicated according to the pre-defined criteria as stipulated in the application form and correspondence will only be made to shortlisted candidates.
Applications are due by January 31.