DUBAI - Professor Terrence O. Kommal, an Extraordinary Professor of Practice at North West University in South Africa, an entrepreneur, CEO and medical doctor launched the "3 I's model to 10X entrepreneurship success in Africa" this month at Tuksnovation.
In March 2021, Professor Terrence O. Kommal, was selected as a Young Global Leader (YGL) of the World Economic Forum. He is one of only 112 YGL's, one of 11 in Africa and the only leader selected for Global Health and Healthcare in Africa.
Professor Terrence O. Kommal created the 3 I's model to education, motivate and inspire entrepreneurs in South Africa and the rest of Africa, who often have the believe that raising capital is the only route to launch new ventures.
According to Massachusetts Institute of Technology, MIT's Olivier de Weck, "Professors of the Practice can play a catalytic role… as decision-makers and leaders, they have an in-depth understanding of current, past, and potential future problems that industry is facing."
Basing the model on his more than 20 years entrepreneurial and business experience in start-ups, family businesses and global organisations, Professor Terrence O. Kommal, advocates that the 3 I's are critical to grow as individual, sustainable business leader in a business for purpose.
The 3 I's are: integrity, innovation and impact.
According to Kommal, "integrity of self is: Internal (me), External (my) and Beyond (us). Integrity is also about your 'why' and reason for starting and sustaining an business offering. Integrity is also closely tied to being a sustainable business for purpose. The UN Sustainable Development Goals are a great starting point to look and where the alignment is with the global goals and entrepreneur."
In terms of innovation, Kommal said, "Success is not always about doing different things, it's about seeing and doing things differently." The model demonstrates that innovation is first about mindset, then understanding the need to innovate and its relevance, before looking at technology to make it possible.
Impact, in the model, is about being acutely aware of the needs of non-shareholding stakeholders, sustainability and how an entrepreneur must not lose focus, but also remain agile.
Professor Terrence O. Kommal began working on the model after discussion innovation in Africa with the Ban Ki-moon, former Secretary-General of the United Nations during WEF in Davos, 2019.
© Press Release 2021