Innovate Durban and Old Mutual conclude a successful 2025 Youth Innovation Challenge Programme.
South Africa’s youth (15 to 34 years) remain vulnerable in the labour market. The Stats SA Quarterly Labour Report for the second quarter of 2025 shows that the total number of unemployed youth is at 4,9 million, and the youth unemployment rate sits at 46,1%. Furthermore, the UNDP South Africa (National Human Development Report 2022: Harnessing the Employability of South Africa’s Youth) identified the digital economy as a viable hub for job creation and recommended that South Africa leverages its opportunities by empowering youth for the new world of work. It is within this context that Old Mutual concluded its Platinum Sponsorship with Innovate Durban for the 2025 Youth Innovation Challenge (YIC) in November. Through this partnership, 68 youth from KwaZulu-Natal participated, 12 prototypes were developed, and three winning solutions were funded.
The Youth Innovation Challenge is a flagship Innovate Durban programme, designed to help aspiring entrepreneurs and young innovators aged 18 to 35 tackle pressing urban and community challenges through design thinking, prototyping, and business development. The 2025 theme 'Sustainable Solutions for Good' focused on creating inclusive, sustainable solutions aligned with key sustainable development themes, including reducing poverty, leveraging innovation and infrastructure, reducing inequalities, climate actions and education. Participants identified and created solutions for their communities, which were then further prototyped by Innovate Durban for the finals.
Old Mutual’s partnership bridges corporate expertise with community driven innovation, creating shared value and providing meaningful impact to the participants. This strategic collaboration included an AI Ethics Masterclass led by Old Mutual’s Global Capability Hub team, that taught responsible innovation and AI practices. As the participants moved onto the prototype development stage Old Mutual provided hands-on guidance and technical expertise that accelerated solution refinement and improved participant outcomes. Future innovators further benefited from mentorship and coaching by Old Mutual executives, demonstrating commitment to innovation, talent development and community building.
“From the very first step, Workshop Week, we were immersed in an insightful, mind-opening experience. We learned from brilliant presentations, connected with incredible peers, and met young innovators who genuinely desire to create meaningful, impactful change in our society through robust and thoughtful solutions.” says Phumelele Mkhize from the winning team, Innohance.
The Global Entrepreneurship Monitor 2024/2025 highlights a growing fear of failure among aspiring entrepreneurs worldwide. The research reveals that nearly half (49%) of respondents in 2024 said they would not start a business due to fear of failure. The report underscores the need for stronger support systems, such as financial assistance, training, and mentorship, to help mitigate risks and encourage entrepreneurship. Programmes such as the YIC directly address these takeouts and provide the right level of support for youth to consider entrepreneurship as a viable livelihood.
“As a female technology leader, I've seen firsthand how critical it is to create pathways for young people, especially young women, into tech careers. The Youth Innovation Challenge doesn't just teach skills; it transforms mindsets about what's possible. When we invested our Global Capability Hub's expertise into this programme, we weren't just sharing knowledge, we were planting seeds for the next generation of African tech leaders who will drive innovation from Durban to the continent and beyond," says Kershnee Ballack, technology executive: Employee and Workforce Enablement at Old Mutual.
The winners of the 2025 YIC, who received cash prizes and mentorship support are in first place, Phumelele Mkhize, Kwanele Mazibuko and Zukiswa Mchunu. In second place are Murangi Ramushweu, Lwandile Khanyile, Asande Mkhonza and Xolile Malembe. Third place is Pretty Parkies, Nontuthuko Jeza and Lindelwa Gumede.
“Old Mutual’s support for the initiative forms part of its broader commitment to advancing digital transformation, youth employability and enterprise development across Africa. While the formal partnership has come to an end, the organisation’s belief in the power of youth-led innovation remains strong, and it will continue to support initiatives that enable young people to play an active role in shaping Africa’s digital and economic future,” concludes Ballack.
The Old Mutual Global Capability Hub in Durban continues to demonstrate its reputation as a forward-thinking leader and centre of innovation and collaboration in KwaZulu-Natal, hosting key events including YIC launch and stakeholder forums. The 2025 YIC was in collaboration with Innovate Durban, the eThekwini Municipality, Adams & Adams Attorneys, Zutari, educational institutions, and the local innovation ecosystem.
