JOHANNESBURG, October 2009 – The Young Entrepreneurship Program (YEP) has been launched in South Africa in association with the Dad Fund, The University of Nevada (Reno) and Sierra Nevada College in the United States of America (USA). YEP has been launched as an initiative to assist young entrepreneurs to harness their leadership skills and to sharpen their business skills by offering exchange and mentorship programmes with USA-based businesses and tertiary intuitions.

The first step in the YEP is the commencement of the recruitment and selection stage of suitably qualified individuals throughout South Africa through a merit-based open competition. Thereafter the screening process will follow, and then the selection of all participants, prior to their departure for the USA. The selection of the participants should take into account the types of businesses that are available for placement/job shadowing in the US. Applicants in the following industries are encouraged to enter: events, tourism, environmental, retail, service provision and education.

South African youth are invited to submit their applications to secure a position in the intake of 24 entrepreneurs. The opportunity is available to young graduates / business owners between the ages of 20 and 35.  “YEP has been launched in an effort to promote entrepreneurship and particularly in the youth, as this has been identified as being sorely lacking in local communities, especially in all spheres of business,” said Lyndon Barends, Founding Member of the Dad Fund. “Through the inception of YEP, we are confident that we will be able to make a profound difference in the lives of many young entrepreneurs, and ensure that the future of South Africa’s business is solidified and crystallized through the youth”.
Commenting on the standard of young entrepreneurs in South Africa, Barends believes that a lot of work needs to be done to bring South Africa to a globally recognisable and acceptable standard. “There is no shortage of capital, however, what has emerged in applications for finance is a poor grasp of essentials that are necessary for a financier to extend a loan. This is where education can play a key role; aspirant entrepreneurs need to know certain essentials, such as how to write a business plan and how to present a budget before they succeed in obtaining backing,” added Lyndon. He believes that even though South African big business is involved in economic development there is still also a lack of information and opportunities for learning. Lyndon is focused on developing a winning mindset in young entrepreneurs or aspirant entrepreneurs.

The initial phase of the competition runs from 15 October to 30 November 2009, followed by a rigorous selection process with one-on-one interviews with all judges. 24 participants will finally be selected, and they will undergo training during the month of December 2009. These 24 participants will undergo an orientation day in January 2010, the objective of which is to introduce the applicants to each other; offer each participant introductory information; distribution of the YEP program information; brief on what to expect upon arrival in the USA; as well as a motivational session. Thereafter, the participants will travel together to the USA for their 5-week entrepreneurship programme and mentorship. The first group will depart on 1 February 2010 and the second group will leave for the USA on 1 October 2010.

For application forms and more details on the programme, please email:

About Youth Entrepreneurship Program (YEP)
The Young Entrepreneurship Program (YEP) has been founded through the Dad Fund, in conjunction with the University of Nevada (through the Northern Nevada International Centre), Sierra Nevada College and the US State Department. YEP aims at giving young entrepreneurs the opportunity of mentorship with businesses and tertiary institutions based in the United States of America. This will be done by offering a 5-week mentorship / exchange period for South African entrepreneurs to be placed with specific institutions as part of a skills development program.

About Dad Fund
The Dad Fund is a nonprofit organization that shapes the future of young leaders.  Its overall aim is to promote the holistic growth of South Africa’s future leaders through developing the hand, heart and mind.
HAND:
Through the hand, we work on programs that focus on economic development, practical work programs, skills development and entrepreneurship. The Youth Entrepreneurship Program (YEP) functions under this category. The Dad Fund also assists local and international students with internship and career building opportunities within South Africa.

HEART:
The heart represents our social consciousness. We implement programs that teach the youth to give back to the community under a mission of “lifting as we rise”. The community projects all have an educational element to them.

MIND:
Here, we provide bursaries and scholarships to students with a high academic performance level. Each year we provide scholarships to youth to pursue their studies in a South African School, College or University. Furthermore, scholarships are also given to two students to study in the USA. We currently have one student on a full undergraduate scholarship program at Sierra Nevada College in Incline Village (Reno, Nevada).

The Dad Fund was started in 2003 by Lyndon Barends (former director at Standard Bank, former CEO of Olympic Committee of SA) in honour of Daniel Arthur Douman (DAD) who was an outstanding community leader. He touched the lives of many while serving within the SA educational system and his personal character attributes are those that the fund would like to promote in the youth of today.