UMPCFERI's primary focus is to develop students' business ideas into sustainable ventures and support start-ups in becoming successful businesses. It also acts as a consultation point and entrepreneurship support centre, providing a platform for peer learning, collaboration, and networking opportunities.
During the opening ceremony, UMP Vice-Chancellor Professor Thoko Mayekiso emphasised the significance of UMPCFERI's establishment as part of UMP's pioneering journey. She highlighted that UMPCFERI is a testament to UMP's commitment to nurturing a culture of entrepreneurship, innovation, and excellence within its student body and the wider community.
“UMPCFERI is poised to serve as a beacon of hope and a catalyst for economic growth and development in the region by offering invaluable resources and guidance to aspiring entrepreneurs,” said Professor Mayekiso.
“As an engaged university, our institution places great value on partnerships, collaborations, linkages, and networks, which we have identified as drivers and enablers in achieving our vision. What we have been working on has come to fruition and is worthy of celebration. We have been part of this pioneering journey since 2014.
At that time, we enrolled 169 students in three programmes. Nine years later, in 2023, we have enrolled 8266 students in 65 programmes, including 10 masters and four doctoral degrees."
UMP Vice-Chancellor Professor Mayekiso and Chairperson of Council Mr Mahlalela flanked by studentpreneurs.
Since its inception in 2020, UMPCFERI has been dedicated to developing emerging entrepreneurs in Mpumalanga and beyond, with the aim of reducing prevalent unemployment levels through entrepreneurship skills development and small business commercialization.
According to Centre Manager, Professor Kanayo Ogujiuba, UMPCFERI plays a vital role in stimulating and supporting entrepreneurship in the province and further afield.
UMPCFER cultivates private and public partnerships to enhance its mission of creating, growing, and sustaining viable enterprises, and provides valuable opportunities for early-stage, high-risk innovative projects that are not yet able to raise funds from the private sector. In addition, it has become a critical source of deal flow in the province for the venture capital industry.
“We are deepening the entrepreneurship culture in the province. Our services include the pre-incubation process for six months before we move them to the incubation stage, where we train, offer business advice, offer financial and technology support for two to three years,” said Professor Ogujiuba.
The Centre was officially opened at UMP Mbombela Campus.
Selected accomplishments
- The Centre has established partnerships with a Consortium of Universities in Asia to develop entrepreneurial students and build capacity for supporting start-up companies.
- UMP students won the Best Pitch Award at the Entrepreneurship Summit held at the Asia Pacific University of Technology & Innovation (APU) in Malaysia. As a result of the award, the students will collaborate with UMPCFERI to develop the app and establish a sustainable business model for Women Entrepreneurs.
- Three UMP students reached the finals of the Entrepreneurship Development in Higher Education (EDHE) Entrepreneurship Intervarsity competition 2022, an annual competition which aims to identify and showcase the top student entrepreneurs at South African public universities, as well as to seek investment to support student businesses.
UMP Chairperson of Council, Mr Sabelo Mahlalela gave closing remarks on behalf of the university and thanked management for initiating a Centre that is dedicated to advance entrepreneurship and innovation.
“The future is bright, UMP is leading the way to empower our students and emerging entrepreneurs with the right skills to improve their chances of succeeding in the business world,” he said.
@ Story by Cleopatra Makhaga. Pictures @ChrisplPhoto.