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DJ Kumbula, founder of InnoVent, was profiled in national South African newspaper Business Day Live for his work in promoting sustainability and recycling in the tech industry. Kumbula co-founded InnoVent in 2003 with fellow Endeavor Entrepreneur Zakhe Khuzwayo with the aim of creating a technology rental agency that promotes efficiency and sustainability.
InnoVent, with over two billion Rand in assets under its management, uses the model of a traditional rental system but focuses on technology, with assets such as laptops, desktops and servers. The renting period for these products averages about three years, after which they are returned to InnoVent. Kumbula’s second venture, Qrent, was born from these returns. Qrent refurbishes the returned computers and rents them for short amounts of time to large regional clients like the Independent Electoral Commission and Statistics SA.
The profile discusses Qrent’s recent partnership with Discovery, a company they had approached four years earlier with a set of three-year-old Dell computers. According to Qrent’s analysis, Discovery saved nearly 50% on technology over four years, serving as just one example of how the company’s model can help similar clients achieve both sustainability and cost savings. Kumbula has begun expanding into the African continent, focusing on Zimbabwe, Zambia, and Tanzania, with over 100 InnoVent and Qrent employees currently located across the four countries. With a recent seed investment from a regional bank, Kumbula and his team plan to diversify their rental portfolio and eye international expansion opportunities as they take the company to scale.
Selected into Endeavor in 2009, the entrepreneurs have received mentorship from a local advisory board of business leaders as well as support from Endeavor’s international mentors. Endeavor has also connected the team to potential entrepreneurs and consultants from global Fortune 500 companies.
Read all of the BDLive coverage by clicking here.
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