The Sanlam Innovation Works Competition is public platform that offer start-up funding for projects at early-stage development that address key issues in innovation. The competition which is currently in its fourth cycle is a joint project between Sanlam Namibia and the Namibia Business Innovation Institute.
“This particular relationship between academia and the private sector is what has made today’s event possible, where the NBII provides mentorship, coaching and training whilst Sanlam Namibia provides funding in the form of seed capital.” noted Ms. Bernice Ndungaua, Entrepreneuship and Incubation Manager at NBII.
Ms. Mareka Masule of Ilotu Cosmetics emerged as the overall winner out of five finalists and was awarded an additional N$ 25 000 at an awards ceremony that took place on Wednesday, the 21st November at the Innovation Village.
Ilotu Investments cc is a Namibian cosmetics manufacturer. It specialises in the production of organic, essential oil based, nutrient-filled wide range for body health products, including full body detox clays, lotions, shampoos, hair food, body washes, and more. The products are distributed to our end users through various channels, including, retailers, sales agents and other businesses like hotels, spas, guesthouses, health facilities and more.
“Considering the economic state that we find ourselves in as a country, these kind of initiatives become even more vital, and as Sanlam when others are shying away from supporting start-ups and small businesses because of the trying times, we want to do our best to encourage innovation and business development in hope of creating a sustainable future for generations to inherit” said Ms. Elizabeth Nailenge, Marketing and Communication Consultant at Sanlam Namibia.
The other finalists were Agro Business and Investment, Nam-Oceanic Kelp Production Enterprise and Kandele Investment.
The Namibia Business Innovation Institute (NBII) in partnership with the Southern Africa Innovation Support (SAIS) and Injini Africa Edtech Incubator launched and held the first edtech sprint week at the innovation village from the 25 – 29 March 2019.
The Reconstructed Living Labs popularly known as RLabs Namibia under the auspices of the Namibia Business Innovation Institute at the Namibia University of Science and Technology held its 7th graduation ceremony on the 22nd of November 2018 at the Innovation Village in Windhoek.