Online Reporter
Herald Correspondent
Sharpe Business Academy and the National Venture Capital Company of Zimbabwe have signed a Memorandum of Understanding to create a pipeline that will equip emerging entrepreneurs with practical business skills, seed capital and opportunities to scale viable start-ups.
The partnership seeks to bridge the gap between entrepreneurship training and access to investment by helping aspiring entrepreneurs develop their business ideas from the incubation stage into commercially viable enterprises.
Speaking at the signing ceremony in Harare yesterday, SBA chairman and founder Mr Kenny Sharpe said the partnership would enable businesses nurtured through the academy to access additional capital and support once they had demonstrated proof of concept.
“NVCCZ has the capacity to take businesses that have been nurtured at the incubation stage, where there is initially no proof of concept and no foundational business knowledge,” he said.
Mr Sharpe said SBA provides aspiring entrepreneurs with the practical skills and business knowledge required to establish and operate successful enterprises.
“SBA provides the skills, business training and practical knowledge that potential entrepreneurs need to start and grow their companies. In some cases, we also provide capital,” he said.
Mr Sharpe said SBA had already run a competition through which 10 entrepreneurs received investments of up to US$20 000 to establish or strengthen their businesses.
“Those entrepreneurs who received investment have either started their businesses or expanded existing ones. Once they have demonstrated a track record, say over 12 months, with proof of concept, an actual product and paying customers, we can then refer them to NVCCZ and say, ‘Here is a business we believe has the potential to grow’,” he said.
Mr Sharpe said the venture capital company could then inject additional capital into qualifying businesses and help them expand further.
The partnership, he said, would create a structured progression from training and incubation to investment and growth.
“They can inject more capital, help the businesses scale up and take an interest in those enterprises to help them reach the next level,” said Mr Sharpe.
“So, we are working together in partnership. We are planting the seed, and they are nurturing the tree so that it grows and bears fruit.”
NVCCZ chief executive officer Mr Tinotenda Kashamba said the partnership would also extend to recent graduates, with programmes being developed to equip them with practical skills needed in both the labour market and entrepreneurship.
He said the initiative would be implemented in collaboration with educational institutions to address the gap between academic qualifications and workplace requirements.
“We know that students want to be prepared for the marketplace, but many are not adequately equipped. The question is: How can we help?” said Mr Kashamba.
“SBA is offering short programmes that can prepare them for the workplace and also for entrepreneurship.”
Mr Kashamba said the programme was expected to begin in January and would complement the country’s Education 5.0 thrust, which emphasises practical skills, innovation and the commercialisation of knowledge.
He said the partnership would help ensure that graduates emerge with skills aligned to industry needs while also equipping them to create their own enterprises.
“It also feeds into Education 5.0, which seeks to provide people with practical skills,” said Mr Kashamba.
“As we see graduates coming through and benefiting from the training offered by Sharpe Business Academy, we will have the right people in the right places with the right skills, and that is how we grow our economy.”
The MoU comes as Zimbabwe continues to promote entrepreneurship, innovation and private sector-led economic growth, with access to finance and practical business skills remaining critical to the survival and expansion of emerging enterprises.
Under the partnership, SBA will focus on developing entrepreneurial capacity and preparing businesses in their early stages, while NVCCZ will provide a pathway for qualifying enterprises to access venture capital and scale their operations once they demonstrate commercial viability.
