IUM to invest N$3 million in post-graduate start-ups

The International University of Management (IUM) will be establishing five companies this year, allowing graduates to become shareholders by presenting their bankable project ideas, to empower them with business ownership opportunities.

This was revealed by IUM founder, professor David Namwandi during the university’s winter graduation at Windhoek’s showgrounds on Friday.

The N$3 million investment by the university will involve staff members assisting graduates in managing their projects until they are capable of running them independently.

Speaking at the ceremony, Namwandi urged graduates to generate wealth and employment opportunities despite the challenging job market conditions.

“There are two-folds, five companies for Namibian students who studied at IUM only. We put aside N$3 million for you to start (as) your capital. I am being serious here. There will be members from IUM who will be directors of those companies to help you until such a time that you are on your own, and you take the company. The company will be yours maybe after five or ten years. The only thing that you have to do is to bring back the initial seed capital, stated Namwandi, who added that the market is limited and jobs are hard to come by.

During the graduation, the university awarded a total of 2,302 qualifications in Post-graduate diplomas,Honours, and Master’s Degrees as well as PhDs at its winter graduation ceremony.