The Sunday Times, a South African weekly news publication, and First National Bank (FNB) have launched a pitch competition for entrepreneurs in KwaZulu-Natal, a coastal South African province.

Ventureburn reports that the pitch competition called Shark Tank will see entrepreneurs from KwaZulu-Natal pitch their business ideas in a bid to secure investment from a panel of venture capitalists.

“The Sunday Times and FNB are putting their considerable muscle into this initiative. We need to encourage entrepreneurship in KZN,” said Greg Ardé, Sunday Times’ SPICE editor. “The finalists will get great exposure through the Shark Tank. The winner will also get financial support and advertising resources that could make a real impact in driving a market for their business.”

This is the second iteration of the Shark Tank competition and the winner of the competition will receive coaching, media exposure, and assistance from FNB, all to the value of R150 000 ($12,000). The event is scheduled scheduled to hold in November.

Applications close by at the end of September. Interested applicants can register here.

Phot Credit: Benson Kua Via Flickr Cc

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