• Market Watch

Momentum shows support for Namibian Startups

- 2023-04-26 00:00:00

Momentum Metropolitan Group, in collaboration with Basecamp Business Incubator, announced the conclusion of a live pitch event aimed at unlocking the potential of talented creatives within the Namibian advertising industry. The event saw sixty-one start-ups apply, with the top six battling it out for a share of N$75 000 in investment and the opportunity to launch a 360° integrated marketing campaign for the Metropolitan brand.
This initiative, driven by Momentum Metropolitan's brand statement to "unlock potential in Africa," focuses on empowering young people to achieve their life aspirations and sustainable earning potential. The event supports Namibian startups, fostering job creation, innovation, economic diversification, skills development, global competitiveness, and social impact.
Denille Roostee, the Group's Marketing Executive, stressed the importance of local corporations supporting startups. "Namibia is home to incredible talent. As a responsible corporate entity, our role is to generate opportunities and provide support, enabling them to contribute their skills and ingenuity. This epitomizes the concept of shared value creation," Roostee explained. She further elaborated, "This is not the end; we plan to maintain partnerships with all finalists, as they have demonstrated their worth as collaborators."
This pitch event was unique as it not only provided funding to the startups but also offered them the opportunity to do business with Momentum Metropolitan, demonstrating a commitment to harnessing local talent and specifically supporting start-ups within the community.
The six finalists, comprising Blind®, Kazeshini Advertising, Pont Marketing, Jushelin Marketing House, NiaLumino Communications, and Blok Media, received a total investment of N$75 000 during the event. NiaLumino Communications clinched the first position, with Pont Marketing and Kazeshini Advertising following closely behind.
The event took an intriguing turn when the top two start-ups revealed their decision to adopt co-opetition. This strategic move was prompted by their recognition that their complementary strengths and areas of expertise could be combined to develop a stronger concept than either could achieve on their own. Their decision was influenced by the most compelling aspects of their pitches, which emphasized the potential benefits of collaboration. This move perfectly embodies Metropolitan's tagline: "Together we can."
Opportunity
Henry Henricks from Pont Marketing conveyed his appreciation: "I'm truly grateful to the Metropolitan team for this opportunity. The market undoubtedly has room for everyone, and if all corporates would provide startups with the chance to demonstrate their skills and capabilities, the industry would greatly benefit and thrive."
Niita Shikongo, who emerged as the winner representing NiaLumino Communications, expressed her gratitude towards Metropolitan for providing her with the opportunity. She also mentioned being "truly in awe" of the individuals she interacted with during the event and the valuable learning experience she gained from the other contestants.
Jesaya Hano-Oshike, Co-Founder & Director of Basecamp Business Incubator and a well-known figure in Namibia's startup scene, emphasized the significance of entrepreneurship and innovation in driving national economies forward.
Dino Ballotti, the Executive Director responsible for Namibia's MSME Development, Innovation and Acceleration mandate at the Namibia Investment Promotion and Development Board (NIPDB), urged the start-ups to expand their horizons beyond local markets. "Don't let your thinking be confined. Explore ways to grow beyond Namibia's borders," Ballotti advised.
The finalists expressed their gratitude for the opportunity and the insights gained. Sakaria Nghikembua, Group CEO of Momentum Metropolitan Namibia, reaffirmed the company's commitment to investing in local youth. "By supporting them now, we are investing in a better future for everyone," Nghikembua said.