Festival of Ideas 2024: A decade of empowering social entrepreneurs in a bold new format

Over the past ten years, the Festival of Ideas has become a cornerstone event, spotlighting transformative business ideas that drive social and environmental impact. In response to the evolving needs of social entrepreneurs, this year’s festival introduced an updated two-part masterclass format designed to enhance financial acumen and impact measurement capabilities. By refining participants’ storytelling, funding strategies and sustainability plans; this year's programme aimed to equip entrepreneurs with the tools to scale their ventures strategically.

Reneilwe Dinkoanyane, marketing manager of the GIBS EDA, expressed the vision behind this year's revamped festival: "The Festival of Ideas has always been a catalyst for empowering social entrepreneurs to drive meaningful change. In 2024, we're taking it further by providing participants with the essential tools and insights to strengthen their financial literacy, measure their impact and scale their ventures effectively. This refreshed format is designed to equip entrepreneurs to survive and thrive in today's challenging economic climate. We believe that by investing in their growth, we are investing in the future of sustainable, community-driven innovation."

This year’s festival offered a comprehensive, skills-based approach with workshops and a competitive pitch session:

• 18 November 2024: Funding Readiness and Sustainable Business Model Workshop (in-person at the GIBS campus, Johannesburg)
  
• 19 November 2024: Measuring Impact Workshop (online session; a link will be provided after the in-person class)
  
• 26 November 2024: Final Pitch Day (in-person at GIBS campus)

Participants stood a chance to win a share of R140,000 to support the most innovative and feasible social or environmental business idea.

How it worked

By invitation only: The initial workshops were by invitation, recognising social entrepreneurs who have already made significant strides in their fields.
Top 12 finalists: After attending the workshops, participants submitted an audio pitch. The best 12 pitches will be invited to present their ideas on the final pitch day for a chance to win.

"The Festival of Ideas has always been more than just a competition; it’s a platform for social entrepreneurs to gain practical skills, build networks, and showcase their innovative solutions to pressing social challenges," added Dinkoanyane.

This year’s festival promised to be the most impactful yet, providing invaluable resources and exposure to help you scale your business and amplify your social impact. For more information, contact us at az.oc.sbig@ymedaca.