The Center for Innovation and Enterprise (CIE) is working to groom young business hopefuls from marginalized communities into job creators. Established in 2001, CIE provides these young entrepreneurs with the tools, business expertise, mentoring, and financial support that not only empower but strive to create an innovative and sustainable business sector in developing South Africa.

CIE, in connection with the University of Cape Town, South Africa and the Wharton School of Business, provides a unique opportunity for the program's participants to engage with highly skilled professionals and MBA students and forge invaluable linkages and support systems. In addition to such mentoring programs, CIE participants, who have difficulties obtaining financing from conventional institutions due to their lack of collateral and small amounts desired, have access to much needed capital, enabling them to jumpstart their business ventures.



Through its Grassroots Business Initiative (GBI), the International Finance Corporation (IFC) has worked with CIE to:

• Enhance their capacity to improve and expand its business development services and reach more emerging entrepreneurs.
• Make funding readily accessible through CIE to support the commercial initiatives of the increasing numbers of young entrepreneurs seeking to propel themselves out of poverty.
• Develop a successful business model that can be replicated in other universities and business schools in South Africa and other African countries. Already, schools in two provinces in South Africa and Universities in five African countries have expressed interest.
• Form a larger entrepreneurs club through which businesspeople in Cape Town can contribute funds (possibly matched by GBI) for investing in small and medium enterprises.