BDC shortlists 10 for Business Den initiative
Staff Writer | Tuesday July 11, 2023 06:00
Business Den, an entrepreneurship development programme, targets ambitious, innovative, and young driven entrepreneurs with sound business ideas, providing them with an unparalleled opportunity to secure a grant-based funding opportunity of P500,000 alongside invaluable mentorship.
To inspire entrepreneurial growth, this year's pitch session welcomed a diverse audience of young individuals, offering them a firsthand experience of the Business Den platform.
As the government's main investment arm entrusted with funding commercially viable projects, BDC introduced the Business Den initiative, inviting young Batswana with groundbreaking ideas or existing businesses seeking expansion. The competition welcomes business ideas from diverse sectors, aligning with both BDC's mandate and the country's economic priorities.
Speaking at the pitch sessions, BDC head of corporate affairs, Boitshwarelo Lebang-Kgetse emphasised the invaluable platform that the competition offers for budding entrepreneurs to showcase their talent in the country.
“Believing in the power of collaboration and knowledge-sharing, we are confident that together we can achieve remarkable things,” said Lebang-Kgetse, who is also the chairperson of BDC’s Corporate Social Responsibility Committee.
She further underscored the pivotal role of platforms like Business Den in nurturing the entrepreneurial spirit and fostering an environment that encourages innovation and growth.
In the second instalment of the initiative, BDC has collaborated with Business Botswana, the University of Botswana, Botswana Accountancy College and the Ministry of Entrepreneurship. Representatives from the partner organisations formed the panel of judges who meticulously evaluated and scrutinised the finalists’ pitches.
“This shows the importance of strategic partnerships with stakeholders who are key for the creation of a symbiotic business ecosystem and the economic transformation of Botswana,” BDC officials said in a statement. “Additionally, the judging panel included a representative from the BDC Risk Department and observers from the BDC Corporate Social Responsibility (CSR) Committee.”
The winning project will be kept in the Business Den for 18 months, benefiting from continuous monitoring, evaluation, and mentorship, until it reaches maturity and graduates from the programme.
BDC selected a remarkable shortlist of 10 finalists from a pool of exceptional proposals, after a rigorous evaluation and screening process. The selection criteria focused on the finalists' ability to deliver disruptive technologies and solutions in areas such as commercial viability, scalability, innovation, impact and export potential.
“BDC is fully committed to fundamentally contributing to the development of viable, competitive, and profitable businesses while empowering youth entrepreneurs to create innovative and sustainable businesses,” added the corporation in the statement.