While on an official tour of government and institutional sites in South Africa recently, Ryerson president Sheldon Levy announced that the university would be launching a new business incubation program, offering a total of eight fellowships to students from four different South African universities. The fellowships will allow student entrepreneurs the opportunity to develop their ventures at one of Ryerson's several incubators, including the Digital Media Zone, Centre for Urban Energy, and the Fashion Zone.
“The future of the global economy is in the hands of our young people,” said Levy, while making the announcement at the University of Witwatersrand. “Ryerson is proud to partner with South African universities in promoting entrepreneurial innovation and great ideas.”
Meanwhile, Professor Adam Habib, Wits University Vice-Chancellor, emphasized that international partnerships like this are crucial for regional development. “Entrepreneurs play a pivotal role in the social and economic development of South Africa and Africa. It is imperative for higher education institutions to play their part in nurturing, training and developing future entrepreneurs."
Fellows will be selected in a two-stage process: first the originating universities will generate a short list of candidates, and then each Ryerson incubator's steering committee will make the final selection based on proposed business plans and video pitches. The fellows who make the cut will have travel and accommodation costs covered, and will each receive a three or four month placement at the most suitable incubator for their needs.
Writer: Hamutal Dotan
Source: Ryerson University
Photo: Wits University