Updated

Updated · Bizcommunity.com · Jul 14

Mr Price Foundation Opens Bindzu Youth Fund for 1,000 Young Businesses, Offering Over R3 Million

Updated

Updated · Bizcommunity.com · Jul 14

Mr Price Foundation Opens Bindzu Youth Fund for 1,000 Young Businesses, Offering Over R3 Million

Q: After an AI startup won R1 million, what became of the other 1,000 entrepreneurs in the program?

They were not all left empty-handed: most moved through the Bindzu Youth Fund’s development pipeline, and 27 businesses ultimately received funding and post-programme support. The programme drew 1,692 applications, with about 1,125 entrepreneurs accepted into the 11-month process. It began with an online business academy for up to 1,000 participants, then narrowed to selected businesses for bootcamps, diagnostics, mentorship, coaching and pitch preparation. From that group, the top 27 businesses — three from each province — were chosen for initial funding and further investment support. In total, those 27 shared more than R3 million. ArcaneEdge’s Kamogelo Selepe won the top R1 million prize, while other standout businesses also received major awards, including Agrikey Farming’s Khaya Burwana with R250,000 and The Light Candles’ Makatu Tshivhula with R150,000. A smaller group of finalists then advanced to the national pitching stage. The broader point is that the other entrepreneurs were not simply “beaten” by the AI startup; they received training, mentorship, business diagnostics and investment-readiness support, with the strongest among them progressing to funding and national exposure. So, for the roughly 1,000 entrepreneurs in the programme, the outcome depended on how far they advanced: many received structured business development support, and the top performers moved on to funding, pitching opportunities and continued backing after the programme.

3 articles · Updated · Bizcommunity.com · Jul 14

Up to 1,000 entrepreneurs can enter the Bindzu Youth Fund’s online business academy as Mr Price Foundation opens applications for its latest youth enterprise programme.
The multi-stage scheme then narrows participants into bootcamps, diagnostics, mentorship, coaching and pitching rounds aimed at helping youth-owned firms grow beyond the start-up phase.
The top 27 businesses—three from each province—will share more than R3 million in funding, with additional investment opportunities and post-programme support available.
Applicants must be 18 to 34, own at least 51% of a South Africa-based business operating for 12 months or more, and have annual turnover below R5 million.
The inaugural cohort ended with ArcaneEdge founder Kamogelo Selepe winning R1 million, while 26 other entrepreneurs also secured funding.