Businessman invests in young entrepreneurs
MORNINGSIDE – A local businessman has pledged R50 million of his own funds to help young entrepreneurs in an initiative set to commence next year.
Ran Neu-Ner, a businessman, entrepreneur, investor and group co-chief executive officer of The Creative Counsel, will invest R50 million of his own money into the development of young entrepreneurs.
The Morningside businessman said, “Talented entrepreneurs are being thwarted by the red tape of financial institutions to the detriment of the country’s economic development.
“Funding is the first of two major issues for start-ups. The second is the dire lack of mentorship. The country is losing a lot of bright young people with great ideas to white- and blue-collar jobs because there is inadequate support, yet it is this potential that could be creating more jobs and solving unemployment.”
Neu-Ner will partner with Suits and Sneakers, an informal, inspirational learning and networking platform, to also assist young entrepreneurs with training and to provide them with mentorship.
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The first R10 million investment will be disbursed in the first quarter of next year and the balance by the end of next year.
“I have no doubt that we will come across amazing, innovative ideas and interesting entrepreneurs who have never been given a chance to dream the impossible. I am looking forward to working with Impello, who are masters at supporting start-ups by offering ongoing informal education, networking events, mentorship and business resources.”
Applications for the initiative are now open for young entrepreneurs who have either started their own enterprise or are wanting to do so and have great business ideas.
Details: info@suitsandsneakers.co.za
