[Music]
I’m truly honored and humbled to be
given this platform today and the
subject of my talk is a very emotional
one
I’m sure to everybody today and my
intention is to hopefully leave each and
every one of you with hope and and and
feeling empowered that you can actually
do something about this very very
serious problem that we’re facing I am
an entrepreneur I worked for corporate
until about five years ago and went on
my own I have an intimate knowledge I
would say in funding you know of
startups some would say I’m a serial
entrepreneur and it is on the back of
this experience that I am giving this
talk today the current unemployment rate
in South Africa is around 36% that means
that more than 11 million of South
Africans between the ages of 16 and 65 I
without a job while looking for a job
they don’t have one over 11 million that
is I think a very sad state of affairs
and hopefully you know I think I’ve come
I’m going to come up with a way that we
can actually address that now a lot of
people assume that government needs to
be the one that you know sort this
problem out but if you think about it
government departments are already
overstuffed you know and and and I want
to say they not a solution and other
people think that big business is what
could be you know create jobs and solve
the solution and that’s also not the
case if anything big corporates are in
the business of acquisitions and mergers
and automations you know etc
efficiencies and they’re in the business
of actually reducing stuff numbers now
what is quite interesting is that most
jobs created are created by small to
medium sized enterprises today I’m going
to speak to a subset of these businesses
the ones that I have created of the jobs
and I’m going to say a few stats and
these come from an organization called
the Global Entrepreneurship monitor they
are the biggest study on entrepreneurs
on the globe and they define two types
of entrepreneurs they define necessity
and reproduce and these are people that
you know start a business in order to
survive you know usually by a good put a
mock up on it and resell it and it’s
usually one-man shows and you know you
know the guys selling fruit at a street
corner
you know tab that’s an SST entrepreneur
and this type of entrepreneur actually
is about 90% of all intrapreneurs then
the second type of entrepreneur called a
high expectation entrepreneur now these
are people that start a business with an
intention to hire 20 or more people in
five years but they only 10% 1 out of 10
10 out of 100 of entrepreneurs now it’s
quite interesting today I’m going to
talk about the top 20% of that 10% so
I’m going to talk about the 2% top 2% of
all entrepreneurs and a study that was
done by the Global Entrepreneurship
monitor and its results were truly
remarkable the top 2% and they looked at
three different you know type of
countries in terms of income they looked
at a low-income country they looked at a
sort of middle-income country and a
high-income country and so if there
would be differences in contribution and
again I think the results were quite
similar in
all that three and here they are they
looked at Tanzania which is a low-income
country and they found that this top 2%
contributed to 26 percent of all jobs
created they looked at South Africa
which is regarded as a middle-income
country and these top two percent 2 out
of 100 contributed to 31 percent of all
jobs created and they looked at a
high-income country the UK and there the
result was not dissimilar to 29 percent
of all jobs created by this top two
percent I think it’s clear we need to
focus on that top two percent to create
jobs and in turn you know I think deal
with the poverty problem however guess
what in South Africa last year
not even one pre-revenue startup
received funding not even one and
there’s several reasons for that that
justify this you know a statistic
between eight and nine out of ten
startups fail within the first two years
so they extremely high-risk businesses
to actually support and it’s very
difficult to convince an investor to put
their hard-earned money into a business
that fails eight to nine times out of
ten is that not so well my talk today is
to say there is something that can be
done i postulate that first of all a lot
of businesses fail in the first few
years because of lack of support whether
its financial or otherwise and what i
want to leave everybody with today is
that we could support each and every one
of us including yourselves here could
make a conscious decision to find out
which you know organizations or
movements are supporting this type of
intrapreneur they are they find out you
know how you know specifically ethical
fundraising you know initiatives and
movements that are there in sub
of this 2% this type of entrepreneur you
can go out and change your behavior
support products and services that I
actually created and provided by the top
2% I’m saying that each and every one of
us can do something to reduce the
unemployment level in South Africa by
supporting that to top 2% so I I’ve
decided to be very apt today because I
think my message is clear so I’m not
going to say much more other than in
closing say that I am hopeful I think
each and every one of us can do
something to support the top 2% and it’s
all about knowing going out there
finding out more really pushing the
drive channeling funds to the top 2% I
myself it is my job
basically I’m running a fund that that
and the purpose thereof is to collect
investor funds and support high
expectation and Rapanos pre-revenue
specifically my initiative is running P
revenue and Rapanos with their concepts
and not only give them money but give
them what we call shared services where
we increase their chances of success by
providing human resource support you
know financial management support etc
etc which are some of the things that
actually lead to such a high percentage
of startups failing because an inventor
you must let him you know work on his
product and then he needs to have that
additional services around him access to
market etc to make him a success I think [Applause]
I’m truly honored and humbled to be
given this platform today and the
subject of my talk is a very emotional
one
I’m sure to everybody today and my
intention is to hopefully leave each and
every one of you with hope and and and
feeling empowered that you can actually
do something about this very very
serious problem that we’re facing I am
an entrepreneur I worked for corporate
until about five years ago and went on
my own I have an intimate knowledge I
would say in funding you know of
startups some would say I’m a serial
entrepreneur and it is on the back of
this experience that I am giving this
talk today the current unemployment rate
in South Africa is around 36% that means
that more than 11 million of South
Africans between the ages of 16 and 65 I
without a job while looking for a job
they don’t have one over 11 million that
is I think a very sad state of affairs
and hopefully you know I think I’ve come
I’m going to come up with a way that we
can actually address that now a lot of
people assume that government needs to
be the one that you know sort this
problem out but if you think about it
government departments are already
overstuffed you know and and and I want
to say they not a solution and other
people think that big business is what
could be you know create jobs and solve
the solution and that’s also not the
case if anything big corporates are in
the business of acquisitions and mergers
and automations you know etc
efficiencies and they’re in the business
of actually reducing stuff numbers now
what is quite interesting is that most
jobs created are created by small to
medium sized enterprises today I’m going
to speak to a subset of these businesses
the ones that I have created of the jobs
and I’m going to say a few stats and
these come from an organization called
the Global Entrepreneurship monitor they
are the biggest study on entrepreneurs
on the globe and they define two types
of entrepreneurs they define necessity
and reproduce and these are people that
you know start a business in order to
survive you know usually by a good put a
mock up on it and resell it and it’s
usually one-man shows and you know you
know the guys selling fruit at a street
corner
you know tab that’s an SST entrepreneur
and this type of entrepreneur actually
is about 90% of all intrapreneurs then
the second type of entrepreneur called a
high expectation entrepreneur now these
are people that start a business with an
intention to hire 20 or more people in
five years but they only 10% 1 out of 10
10 out of 100 of entrepreneurs now it’s
quite interesting today I’m going to
talk about the top 20% of that 10% so
I’m going to talk about the 2% top 2% of
all entrepreneurs and a study that was
done by the Global Entrepreneurship
monitor and its results were truly
remarkable the top 2% and they looked at
three different you know type of
countries in terms of income they looked
at a low-income country they looked at a
sort of middle-income country and a
high-income country and so if there
would be differences in contribution and
again I think the results were quite
similar in
all that three and here they are they
looked at Tanzania which is a low-income
country and they found that this top 2%
contributed to 26 percent of all jobs
created they looked at South Africa
which is regarded as a middle-income
country and these top two percent 2 out
of 100 contributed to 31 percent of all
jobs created and they looked at a
high-income country the UK and there the
result was not dissimilar to 29 percent
of all jobs created by this top two
percent I think it’s clear we need to
focus on that top two percent to create
jobs and in turn you know I think deal
with the poverty problem however guess
what in South Africa last year
not even one pre-revenue startup
received funding not even one and
there’s several reasons for that that
justify this you know a statistic
between eight and nine out of ten
startups fail within the first two years
so they extremely high-risk businesses
to actually support and it’s very
difficult to convince an investor to put
their hard-earned money into a business
that fails eight to nine times out of
ten is that not so well my talk today is
to say there is something that can be
done i postulate that first of all a lot
of businesses fail in the first few
years because of lack of support whether
its financial or otherwise and what i
want to leave everybody with today is
that we could support each and every one
of us including yourselves here could
make a conscious decision to find out
which you know organizations or
movements are supporting this type of
intrapreneur they are they find out you
know how you know specifically ethical
fundraising you know initiatives and
movements that are there in sub
of this 2% this type of entrepreneur you
can go out and change your behavior
support products and services that I
actually created and provided by the top
2% I’m saying that each and every one of
us can do something to reduce the
unemployment level in South Africa by
supporting that to top 2% so I I’ve
decided to be very apt today because I
think my message is clear so I’m not
going to say much more other than in
closing say that I am hopeful I think
each and every one of us can do
something to support the top 2% and it’s
all about knowing going out there
finding out more really pushing the
drive channeling funds to the top 2% I
myself it is my job
basically I’m running a fund that that
and the purpose thereof is to collect
investor funds and support high
expectation and Rapanos pre-revenue
specifically my initiative is running P
revenue and Rapanos with their concepts
and not only give them money but give
them what we call shared services where
we increase their chances of success by
providing human resource support you
know financial management support etc
etc which are some of the things that
actually lead to such a high percentage
of startups failing because an inventor
you must let him you know work on his
product and then he needs to have that
additional services around him access to
market etc to make him a success I think [Applause]
Please follow and like us: