Ryerson University, in Toronto, Canada, has created eight fellowships that provide student entrepreneurs from four South African universities the chance to develop their businesses and network with other start-ups at its incubators.
This was announced by Ryerson president and vice-chancellor Sheldon Levy, at a University of the Witwatersrand (Wits) event yesterday.
Ryerson's business incubators include the Digital Media Zone, the Centre for Urban Energy, Fashion Zone, and the Design and Fabrication Zone.
Successful candidates will train at the centres and will develop skills in digital media, communication, or renewable energy technology, depending on their proposals.
Three Wits students, two from the University of Johannesburg, two from Stellenbosch University and one from the University of Venda will receive office space, mentorship and business development advice during a three- to four-month fellowship.
Participating universities will provide a shortlist of applicants for the fellowships later this year, based on video pitches and business plans, while a zone steering committee will choose final candidates. Transport and accommodation will be subsidised by Ryerson.
Levy made the announcement as part of a multi-day tour of SA during which he is meeting with government and university officials.
Global start-up network
Ryerson already runs similar fellowships with tertiary institutions in India, China and Israel, and its move into SA is an attempt to build an inter-continental entrepreneurship network.
"What we're trying to do is pull together half a dozen countries that will help their young people develop companies which have the potential to not only see opportunities within their own countries, but see it in India, Canada, North America and, therefore, become global rather than local," explains Levy.
Levy notes the fellowships are part of a strategy of economic development and believes innovation will be driven by youth.
Professor Adam Habib, Wits vice-chancellor and principal, says fellowships like Ryerson's are important in fostering African leadership and entrepreneurship. "Entrepreneurs play a pivotal role in the social and economic development of SA and Africa.
"It is imperative for higher education institutions to play their part in nurturing, training and developing future entrepreneurs," says Habib.
Wits also emphasised entrepreneurial development last year when its Johannesburg Centre for Software Engineering completed a training programme hosted by the Massachusetts Institute of Technology and funded by Google.
The programme recruited 30 engineering and computer science students to develop real-world mobile service start-ups through researched technology and business plans.
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