Entrepreneurship Intervarsity competition – a ‘game-changing’ experience

For the University of Cape Town (UCT) student entrepreneur Vuyolwethu Mpetshwa, participating in the 2023 Entrepreneurship Intervarsity competition was a game-changing experience. And even though walking away with one of the winning prizes was not meant to be, best believe that she’d do it all over again.

The Entrepreneurship Intervarsity competition is an initiative of the Entrepreneurship Development in Higher Education (EDHE) programme and is presented by the Department of Higher Education and Training in partnership with Universities South Africa. The annual event aims to identify top student entrepreneurs at South Africa’s 26 public universities and provides students with a platform to showcase their businesses and attract investors to their enterprises. It also gives students whose businesses are still in the ideas phase an opportunity to pitch their concepts. Students pitch their business ideas to a panel of judges in three minutes. Thereafter, judges facilitate a question-and-answer session to gain a more in-depth understanding of each participant’s concept.

Mpetshwa, a UCT master’s in chemistry student, whose business, Hair for Royals, reached the final round of the competition in November, said the experience shaped her entrepreneurial journey in a meaningful way and imparted important lessons she’s guaranteed to use in her business in the future.

“Participating in this competition has positively impacted me as an entrepreneur. It shouldn’t always be about walking away with the winning prize. Yes, that is great! But we also need to look at what the experience teaches us. This experience has taught me so much. I’m better because of it,” she said.

UCT News caught up with Mpetshwa for more on this experience.

Niémah Davids (ND): Please provide a little snapshot of your business model.

Vuyolwethu Mpetshwa (VM): Hair for Royals provides customers with a waterproof wig glue product so that they have the freedom to do outdoor activities like swimming without worrying that the wig will come off. A second component of our business model is a professional wig installation offering, which means that we have covered customers who have been searching for a durable, long-lasting hold and reliable wig installation.

“Essentially, what we do is we combine a high-quality adhesive product with an expert installation service to ensure a seamless and long-lasting experience for our clients.”

Essentially, what we do is combine a high-quality adhesive product with an expert installation service to ensure a seamless and long-lasting experience for our clients. This dual approach caters for individuals searching for both premium wig-care products, as well as those who need a secure and natural looking application.

ND: Why did you sign up to participate in the Entrepreneurship Intervarsity competition?

VM: I wanted to expand my skillset and wanted an impartial person who’s in the know and who’s been on a successful entrepreneurial journey to tell me where the gaps are with regard to the way I run my business. I needed mentorship to further develop me as an entrepreneur. I also needed exposure and the opportunity to connect with other entrepreneurs in other areas of business.

ND: How has this competition benefited you as an entrepreneur?

VM: This competition has helped me kick-start my transformative learning journey. I was exposed to experienced mentors who helped me to refine my business strategy and guided me to improve my marketing and networking skills. This was so valuable.

As a participant, this competition taught me a lot about critical thinking, adaptability and problem-solving. While navigating this dynamic environment, I learned the importance of time management and risk assessment. It was a holistic learning experience and empowered me as an entrepreneur with the skills I need to develop myself and my business in order to guarantee my success in the future.

ND: What would you say was your biggest learning?

VM: It’s got to be embracing change and learning from it, not forgetting how to respond effectively to those unexpected challenges that crop up along the way, and they are not few and far between. It has also taught me so much about perseverance, which is absolutely crucial for an entrepreneur.

ND: Why are initiatives of this kind so important?

VM: They are fundamental skills development platforms that allow you to grow on unimaginable levels. It offers exposure, valuable networking opportunities, and in many ways, validates your business through providing constructive criticism and feedback. And then there’s the chance of receiving financial support, which is a huge bonus because it brings with it other opportunities that you’ve not even thought about yet.

ND: Would you encourage aspiring student entrepreneurs to participate. If so, why?

“So, signing up should actually be a strategic decision to improve your entrepreneurial skillset, grow your business and gain the exposure you need.”

VM: Most definitely. It will open doors of opportunity for you. So, signing up should actually be a strategic decision to improve your entrepreneurial skillset, grow your business and gain the exposure you need. And whether you reach the final or not, the contribution will be massive. It has definitely been for me.