University of South Africa: Inhlanyelo Hub Unleashes Business Creativity
Inhlanyelo Hub offers various programmes to deliver on its mandate, and further seeks to promote innovation and entrepreneurship activities to both internal and external stakeholders through inculcating entrepreneurial development, accelerating business growth and success, and decreasing the probability of start-up failure.
Amogelang Marengwa, Business Advisor from Inhlanyelo Hub, shared his business experience and emphasised that the workshop would help participants minimise failures. He urged them to unpack their business ideas, solve real problems and establish positive collaborations with experts and business-minded individuals.
“It is important to solve the problem based on market research, not assumptions,” he added. He explained innovation as a new idea for a business that fulfils untapped customer needs and builds a new market. Furthermore, this new idea is implemented to improve a product or service, new processes and marketing methods in a business, external relations and the workplace. He outlined the importance of the business model canvas that blends cost structure and revenue streams, which includes key partners, resources, customer relations, value proposition and channels.
Participants had the opportunity to complete practical exercises using the acquired entrepreneurial tools to establish new businesses and reinforce existing business ideas as well as relevant skills to introduce new businesses and grow existing businesses. Individuals made presentations on their business ideas and other participants were able to provide constructive inputs on the presentations.
Participants’ feedback
Reamogetse Motene, a Unisa third-year student registered for a Diploma in Mechanical Engineering and who is also running a clothing business, expressed his appreciation for the workshop that has infused and equipped him with entrepreneurial knowledge and skills. After attending the workshop, Motene realised that there were other ways to expand his business. “I just realise that I need to network, verbalise and improve my value proposition skills to drive my business to greater heights,” he said.
Tumelo Shole, who enrolled for a Postgraduate Diploma in Internal Auditing and who is also pursuing business in digital marketing for health and wellness professionals, expressed her appreciation about the workshop and the practical presentations from various participants. Among the lessons learnt, Shole indicated that it is important to know and understand that the problem should not be solved based on assumptions, but on market research. The workshop offered models to be used to generate new ideas and improve the existing businesses. “My eyes are now open; I am ready to apply the lesson learnt to my business,” she added.
Gaopalelwe Letau, the founder of Multiplied Photography and currently a final-year student at Unisa studying a Bachelor of Arts Honours in Counselling Psychology, expressed her gratitude for the workshop and information shared. “When I started my business, I did not know business models or value propositions. I only understood transactional relationships with clients. I learnt about the idea generation canvas, design framework, value proposition and business model canvas,” she said. “From now onwards it’s all application of what I learnt, documenting my business which has been running for over four years now,” she concluded.
The session was interactive, and participants showed eagerness and willingness to learn and acquire information to help them implement their business ideas and grow their businesses.