The Durban Chemicals Cluster (DCC) business accelerator held its annual Dragon’s Den-style event at Umhlanga Rocks, KwaZulu-Natal last week. 13 up-and-coming black entrepreneurs pitch their businesses to five established chemical industry ‘dragons’ to receive cash prizes, seed capital, business supply opportunities and mentoring opportunities.
Durban Chemicals Cluster Business Accelerator Award winners with representatives from eThekwini Municipality and the Dragons. Source: Submitted
The Dragon panel consisted of chemical firms FFS Refiners, H&R, NCS, Sherwin-Williams and Sapref.
The DCC Business Accelerator, open to all black entrepreneurs with emerging ideas and established SMMEs in the chemical sector, attracted 58 entries, which were whittled down to the final 28 candidates.
These qualifiers were then invited to a one-day capacity building workshop where they interacted with business experts and gained insights from them to fine-tune their businesses. The top 13 qualified for the second round of judging based on the Dragon Cave concept.
Best business case
Clia Business and Technology Solutions walked away with top honors, winning the Best Business Case Award and a R25,000 cheque. “Participating in this initiative has been a privilege and an honor and I look forward to the way forward. Youth development is a true passion of mine and this investment in Kilia will help me pass the baton and invest in our future,” said Kilia Managing Director Jason Govender.
The additional R25 000 cash prizes went to:
- The most promising and innovative supplier to the sector – API Solutions International, represented by General Manager Sunthosh Balchund
- The best environmental sustainability solution – Deluxe Cleaning, represented by CEO Itu Rangaka
- A very diversified business – AEIM Chemicals, represented by CEO Muzi Dlamini.
“I am blown away by the innovation and potential shown by these businesses. This event really proves that this initiative can promote localization and make a meaningful difference in the local chemical industry,” said Ravesha Govender, Program Manager at the eThekwini Municipality, Department of Economic Development.
Development of mutual benefit partnership
After the event, the supporting large businesses will continue to develop mutually beneficial partnerships with entrepreneurs through mentoring, potential investment, loans and contracts.
“Member companies in the group are always looking for high-potential SMMEs to work with and it makes it easy to identify potential business accelerator partners. Today was amazing – we met top talent with great business cases and I for one can’t wait to move forward and start growing together.” said Rudy Van Niekerk, Regional General Manager and Durban Chairman of H&R Africa Chemical Group.
Kyle Ballard, CEO of Accelerator, said, “We’re honored to facilitate something that delivers meaningful results to companies large and small in the industry. Acceleration is proving to be a consistently effective way for large companies to find and develop their future suppliers and drive innovation in their value chain.
“Similarly, it is a privilege to facilitate small enterprises and to have the opportunity to open up business opportunities with clients who would otherwise not be able to do it on their own. We saw magic today, and I’m looking forward to doing it again.”
