NMMU Business School Entrepreneurship students awarded top honours at annual IDC Competition

Annually, the Industrial Development Corporation (IDC) hosts a Tertiary Institution Business Plan Competition. Initiated in 2012, the competition is aimed at registered students at participating tertiary institutions who need to write a business plan as part of their curriculum.  The main objective of the competition is to support entrepreneurial development. 

During the 2014 round of the Competition, the IDC received 39 business plans - sixteen of these where from MBA students representing Milpark Business School, Nelson Mandela Metropolitan University Business School, University of Stellenbosch Business School and the University of the Free State Business School. 

At an award ceremony at the IDC Head Office in Sandton on 29 April 2015, two groups of students from NMMU Business School walked away with an overall four prizes. 

Sun Wheel Seeder, which was produced by M-A Chetty, K Moodley, R Kuhn and M Jonker were rewarded with the overall Third Place Prize and the award for the Most Impactful Socio-Economic Development.

Automated Guided Vehicles, which was produced by M Dolley-Ryneveld and H Meyer received the overall First Place Prize and the award for the Most Comprehensive / Well-Written Business Plan.

By submitting a business plan into the competition, prospective entrepreneurs are exposed to real life scrutiny of their business plans by industry experts who provide extensive input into the improvement of the business plans prior to the entrepreneurs approaching a funding body.

NMMU Business School would like to congratulate these students and their Entrepreneurship Elective lecturer, Prof Margie Cullen, on this great achievement.