November 2019 was a great year, at least for those who are now participating in the Citi Foundation and TechnoServe program, YID-Tech. It was the year the program, a 12 months training on entrepreneurship development initiative, was launched.
A total of 250 candidates attended the program in Gauteng. They were between the ages of 18 to 35, according to the requirement. At the end of the training, the best candidates will be picked and taken through certified electronics training.
Those who are successful in YID-Tech will get grant funding to pursue their entrepreneurial dream. The second group, the runner-ups, won’t be given grant funding but sent it back to tech companies to gain more experience.
The YID-Tech program is an ongoing program aimed at equipping the youths with relevant skills so that they can contribute to the country’s economic growth. The program is being financed by Citi Bank via the Citi Bank Foundation, though Technoserve is implementing it.
Top government bodies also join the YID-Tech program. These include the Innovation Hub, SEDA, and NYDA. Meanwhile, other collaborators are placement agencies, local businesses, and sector-specific organizations. The collaborations make recruitment a breeze for the program organizers.
The first step of the program
The first step is an 8-week intense training done online. This training is linked to Further Education and the Training Cert in Electronics. Others include entrepreneurship and business pitching training.
The second step of the program
The second step involves a pitching competition. At this point, candidates will be asked to share their business ideas to a panel of judges.
After the pitching competition, the YID-Tech will shortlist 30 promising entrepreneurs, but only 15 will get the grant funding. The rest 15 will go back to get more knowledge in electronics.
The third step of the program
In addition to the funding, finalists will receive 5-month mentoring by a professional in their chosen field.
Candidates considered as the runners-up and sent for experiential training will get travel stipends. They will get 5-month mentoring and coaching in top electronics companies.