Mr Price awards R1m prize to AI entrepreneur
Selepe is the founder of ArcaneEdge, an AI-powered marketing technology business that developed a platform designed to simulate consumer behaviour and test marketing campaigns before advertising budgets are committed.
According to the foundation, ArcaneEdge recorded the highest revenue growth among participating businesses during the programme, increasing revenue by 486% over the assessment period.
National entrepreneurship programme
The Bindzu Youth Fund is the Mr Price Foundation's entrepreneurship development programme, which provides funding, mentorship, business support and investment-readiness training for young entrepreneurs.
Of the 1,692 applications received, 1,125 entrepreneurs were accepted into the programme. Participants progressed through development programmes, boot camps, mentorship and training before 27 businesses received funding and support.
Ten finalists ultimately advanced to the national pitch competition, where winners were selected based on business performance, growth potential, commercial viability and economic impact.
Agriculture and manufacturing businesses recognised
Second place, and a R250,000 prize, was awarded to Western Cape entrepreneur Khaya Burwana, founder of hydroponic farming business Agrikey Farming.
The company supplies food products to retailers, communities and informal traders and used programme support to automate its irrigation systems.
Third place went to Gauteng-based entrepreneur Makatu Tshivhula, founder of candle manufacturer The Light Candles, who received R150,000.
The business produces candles for retail, religious and lifestyle markets and used programme support to expand production capacity and inventory.
Focus on business growth
The three winning businesses operate in different sectors, including artificial intelligence, agriculture and manufacturing.
Mr Price Foundation said the programme was established to help young entrepreneurs overcome barriers such as limited access to funding, mentorship and business support.
The foundation said the initiative aims to help participants build sustainable businesses capable of creating jobs and contributing to economic growth.