26 Oct 2023

The Facets 2023 Conference recently concluded on a high note with the culmination of an exciting pitch challenge, which featured innovative ideas and projects from budding entrepreneurs in Botswana’s diamond and jewelry industry. 

Five businesses and entrepreneurs showcased their vision and innovative solutions, vying for prize money and the chance to take their projects to the next level. 

One of the standout moments of the Pitch Challenge was the announcement of the award recipients. 

Zoe Diamonds was the recipient of the second-place award, securing recognition and a prize of P72 704 (5 000 Euros)  

The company, represented by its founder, Ms Ada Thela, was celebrated for its impressive operations and its commitment to sustainability. 

Zoe Diamonds was commended for its capacity to attract top talent, emphasising that the company could potentially become a formidable force in the industry. 

The grand prize of P218 112 (15 000 Euros) was awarded to Diamond Link, an errand solutions company for micro gigs and informal sector. 

The App’s concept, which focuses on connecting businesses in the diamond industry, earned it the top spot in the competition.

While the jury acknowledged the merits of the project, they also suggested a name change to broaden its appeal beyond the diamond sector, given its universal viability. 

Mr Arnold Phaladi, the founder of Diamond Link, was applauded for his compelling pitch and the progress made with the company's minimum viable product (MVP). 

The jury expressed their enthusiasm for Diamond Link’s potential to not only bring business to Botswana but also impact the broader diamond industry. 

The judges recognised the company’s noble aspiration to contribute to development and create opportunities for underprivileged individuals through its platform. 

A breakthrough in the diamond value in the form of a pitch by young scholar, Mr Thapelo Mothatego, centred on using the waste or diamond dust to create nanodiamonds. 

Mothatego scooped the third prize of P29 081(2 000 Euros) for his pitch that many opined as a billion dollar idea, showering the aspiring photonic scientist with praise and commendation for his genius. 

According to research, the global nanodiamonds market size was US$124.55b in 2021 and is predicted to grow at a CAGR of 19 per cent  to reach US$371.48b by 2030. 

Nanodiamonds are nanometre-size diamonds with unique structures and characteristics that make them useful for many industrial applications. 

Research is expanding the range of synthesis methods of nanodiamonds as well as increasing the scope of their applications, promoting a rising global market. 

Mothatego is one of the scholars driving Botswana’s possible participation in the nanodiamonds industry. One of the notable aspects of the pitch challenge was the commitment to ongoing support and accountability for the winners. 

The jury pledged to schedule a follow-up meeting with the prize recipients in six months. 

The objective of this meeting is to track the progress of the winning projects and offer any necessary assistance or support. 

The pledge underscores the importance of nurturing and empowering emerging talents in the industry.

 The Facets 2023 Pitch Challenge highlighted the dynamism and innovation within the diamond and jewelry industry. 

It served as a platform for young entrepreneurs to showcase their vision and receive recognition, mentorship, and financial support. 

The award ceremony marked the beginning of an exciting journey for the winning projects underlining the industry’s commitment to fostering innovation and entrepreneurship. 

As these budding entrepreneurs embark on the next phase of their respective ventures, the industry anticipates witnessing their growth and contributions. ENDS