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Eight2Five Innovation Hub: Leading the way in supporting entrepreneurship and celebrating innovation

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In the rapidly evolving global business landscape, innovation hubs have become essential catalysts for entrepreneurial success and economic growth. Among these, the Eight2Five Innovation Hub, powered by Old Mutual, stands out as a beacon of creativity, collaboration, and commercialization.

Eight2Five: Bridging Ideas and Market Solutions

Founded with the vision to bridge the gap between visionary ideas and market-ready solutions, Eight2Five has carved a niche for itself by fostering an ecosystem that supports start-ups, accelerates growth, and drives sustainable business practices. It has become a powerhouse for entrepreneurship and innovation in Zimbabwe, offering a platform where emerging entrepreneurs can seamlessly transition from ideation to execution, supported by resources, mentorship, and a vibrant community.

The mission of Eight2Five is to empower entrepreneurs by providing a comprehensive platform that integrates workspace, mentorship, funding opportunities, and networking channels. By doing so, the hub aims to transform innovative ideas into sustainable businesses, driving economic development and technological advancement.

Old Mutual’s Investment in Innovation

Old Mutual recognizes that supporting entrepreneurship is vital for building a resilient economy in Zimbabwe. Launched as a partnership between Old Mutual Zimbabwe and various stakeholders, the Eight2Five Innovation Hub reflects a commitment to creating an ecosystem that nurtures innovation and self-sufficiency. This vision goes beyond offering a physical space for entrepreneurs; it’s about establishing a sustainable support system to cultivate Zimbabwe’s next generation of business leaders.

Entrepreneurs often face challenges in accessing essential resources like office space, internet connectivity, and business tools. Eight2Five addresses these needs by offering modern infrastructure designed for start-ups and established businesses alike. The hub features flexible, fully furnished co-working spaces with high-speed internet, ergonomic furniture, and meeting rooms that foster collaboration. For businesses requiring dedicated spaces, Eight2Five offers customizable offices with amenities tailored to their specific needs. The hub also provides venues for workshops, seminars, product launches, and networking events, creating a community-centric environment.

Tailored Support for Entrepreneurial Success

Understanding the challenges entrepreneurs face, Eight2Five offers a range of support services to help them succeed. Seasoned entrepreneurs and industry experts provide guidance on business strategy, product development, marketing, and scaling. They assist with market research, business planning, and go-to-market strategies to ensure start-ups are prepared for growth. Eight2Five also offers tailored development through incubation workshops, where participants receive personalized guidance on project management, financial literacy, and strategic planning.

A notable example is a masterclass led by experts from the PMI Zimbabwean Chapter, introducing entrepreneurs to Agile and Scrum methodologies. This training provided practical project management skills, emphasizing flexibility, strategic execution, and adaptability in managing resources and timelines.

Another impactful initiative is the “On the Money” financial literacy program, where entrepreneurs learn essential financial skills such as budgeting, saving, and investing. This program equips business owners with the knowledge to build financially resilient companies that can weather economic challenges and continue to grow.

Connecting Entrepreneurs with Funding

Securing funding is often a significant hurdle for start-ups. Eight2Five helps overcome this challenge by connecting entrepreneurs with venture capitalists, angel investors, and corporate partners interested in funding innovative ventures. The hub regularly hosts pitching events where entrepreneurs can present their ideas to potential investors, receive feedback, and secure investment.

A Collaborative and Innovative Ecosystem

One of the standout features of Eight2Five is its ability to create a collaborative ecosystem where entrepreneurs can thrive. The hub encourages interaction and cooperation through community-building initiatives such as regular networking events, peer-to-peer sessions, and forums for knowledge exchange and partnerships. By bringing together entrepreneurs from diverse sectors, Eight2Five fosters cross-pollination of ideas and interdisciplinary innovations, promoting a culture of mutual support where successes are celebrated, and challenges are collectively addressed.

Eight2Five has been instrumental in accelerating the growth of many businesses. Key to this success are its incubation and acceleration programs, which guide entrepreneurs through critical growth phases—from seed stage to scaling. These programs help businesses expand their market reach through strategic partnerships, market entry strategies, and international expansion support.

The Value Creation Challenge (VCC4): Celebrating Innovation

The Value Creation Challenge (VCC4) is one of Eight2Five’s flagship initiatives, celebrating Zimbabwe’s dynamic entrepreneurial ecosystem. The 2024 VCC4 attracted over 600 applications, highlighting the country’s vibrant entrepreneurial spirit. After a rigorous selection process, 50 start-ups were shortlisted, with 27 advancing through intensive boot camps and incubation. This year, the program saw strong female participation, underscoring the importance of empowering women in entrepreneurship.

VCC4’s impact was further recognized when it received the Platinum Award for Best Corporate Social Responsibility Campaign at the EMA MAZ Awards. This accolade highlights Eight2Five’s commitment to fostering an ecosystem that nurtures innovation and creates community value. As part of the VCC Alumni community, entrepreneurs continue to benefit from collaboration and growth opportunities, fostering lifelong learning and success.

Several businesses that have participated in Eight2Five’s VCC challenge are poised for remarkable success. Pured Agro, a food processing start-up, emerged as the winner of the Emerging Industries Pillar in the 2024 Value Creation Challenge. Zimpricecheck won the Innovative Tech Pillar and the overall 2024 VCC, while Nengare Incorporated took home the Creative Industry Pillar award. Crystal Cred won the Sustainability Pillar, and Charis Nutrition Consultancy was named Top Incubatee of the Year.

Empowering the Next Generation of Entrepreneurs

Eight2Five’s commitment to future generations is exemplified by its Next Gen Anchors Program, in collaboration with TME Education. This initiative equips young innovators with the skills needed to address contemporary challenges in sustainability, healthcare, and education. Participants engage in hands-on training, interactive sessions, and mentorship, culminating in a final showcase that demonstrates their creativity and problem-solving capabilities.

The program positions young entrepreneurs as future drivers of economic growth and innovation. This year’s Next Gen Anchors featured Tech Titans, who developed an autonomous environmental monitoring robot for diverse settings, Quantum Tribe, which created a lifestyle robot for home, school, and office use, and Bro Code, which designed a smart greenhouse cooling system to maintain optimal growing conditions.

Strategic Partnerships Fueling Growth

Eight2Five has forged strategic partnerships with leading corporations, technology providers, academic institutions, and organizations, notably the British Council and the British Embassy. These collaborations provide entrepreneurs with access to critical resources, expertise, and potential customer bases. Partnerships with universities and research institutions further facilitate access to cutting-edge research, talent, and collaborative opportunities.

A pivotal step in Eight2Five’s journey came with its partnership with Stanford Seed Spark from the Stanford Graduate School of Business, part of the Seed Spark 02 Africa cohort launched in June 2024. This collaboration aims to equip Zimbabwean entrepreneurs with world-class resources and business insights, fostering sustainable growth across Africa. From June to November 2024, over 30 entrepreneurs from Nigeria, Ethiopia, Tanzania, Rwanda, Kenya, and Zimbabwe will participate in this intensive five-month program. They will gain access to a global network of resources and enhance their strategic thinking, business acumen, and professional networks.

The Broader Impact on Zimbabwe’s Economy and Society

Eight2Five is committed to sustainability, integrating eco-friendly practices into its operations and encouraging start-ups to adopt sustainable business models. Initiatives include implementing energy-efficient systems, waste reduction programs, and sustainable materials within the hub. Sustainability workshops in Zimbabwe offer training on green innovation, corporate social responsibility, and sustainable practices.

By providing tailored support, Eight2Five helps businesses scale their impact and contribute to community development and social well-being. Old Mutual’s support for Eight2Five is not just about individual entrepreneurs; it’s about fostering a culture of entrepreneurship that benefits the broader economy and society.

Key impacts include job creation—by empowering small businesses, Eight2Five indirectly helps alleviate unemployment and stimulate economic activity. The hub supports businesses across various sectors, from agriculture to digital technology, promoting a diversified economy that is more resilient to market fluctuations. Many of the businesses pitched at Eight2Five address critical social issues in Zimbabwe, such as healthcare, education, and environmental sustainability. By supporting these businesses, Old Mutual is contributing to meaningful social change and the development of solutions that improve lives.

Conclusion

The Eight2Five Innovation Hub stands as a testament to the power of community, knowledge-sharing, and access to resources for entrepreneurial success. Through its strategic partnerships, comprehensive programs, and unwavering support, Eight2Five is shaping Zimbabwe’s entrepreneurial landscape and empowering a new generation of innovators. As the hub continues to inspire and equip entrepreneurs, it remains committed to building a sustainable ecosystem that catalyzes growth, fosters resilience, and contributes to the nation’s economic development.

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