Call for Cape Town-based black-owned SMEs who are ready for growth
BIZCOMMUNITY / 23 JANUARY 2019 - 09.08 / STAFF REPORTER
The Innovator Trust, an enterprise development organisation, and the Cape Innovation and Technology Initiative (CiTi), Africa's oldest incubator, are calling on Cape Town-based growth-stage ICT entrepreneurs to join the intensive two-year enterprise development programme.
The ICT sector has gone from strength to strength and is one of the fastest-growing industries on the African continent. Yet African entrepreneurs are still finding it a difficult business landscape to navigate.
That is why The Innovator Trust and CiTi, through exposure, training and mentorship, now aim to equip entrepreneurs and businesses in the sector with tools that will keep them on track, assist them to achieve their goals and create tech leaders of the future. ICT entrepreneurs in need of mentorship, skills development and business support who have been operating for more than two years and are fiercely committed to growing their business, can now apply to the two-year Innovator Trust programme, co-developed and run by CiTi at the Woodstock Bandwidth Barn and remotely in Cape Town.
The Innovator Trust programme aims to support the: increase annual turnover, equip businesses with the necessary accreditation to remove red tape, as well as increase profitability and number of employees. Get ready to move the dial on your business.
Celebrating its 20th year of supporting entrepreneurs, CiTi currently runs a number of incubation programmes from idea to growth stage. After a very successful first cohort of the programme, completed in 2018, CiTi confirmed a second collaboration with the Innovator Trust to support further Cape Town businesses over the next two years. Applicants need to be in “ICT”, but this has included a broad range of focusses in the past, from IT recruitment, network security to cabling service provider and software solutions.
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The programme, designed by CiTi and Innovator Trust, is not to be taken lightly. Monthly training, mentorship sessions with industry experts, and a strong focus on technical improvements means a substantial time and focus commitment by the entrepreneur. But this intensive design enables significant business progression over the two years. “Once the entrepreneurs who take part in our Enterprise Development programmes become more established, they turn their focus to growth. This accelerator is especially for entrepreneurs who’ve created businesses with high-growth potential and provides them with the skills to scale at speed and responsibly,” says Tashline Jooste, CEO of the Innovator Trust.
In order to be considered for the programme, prospective applicants must meet the following criteria:
A company defined in South Africa as an SMME, QSE or EME;
Must be operational and trading for two or more years;
The business should be at least 51% black-owned;
A minimum Level 1 – 4 BBBEE status according to the DTI or ICT Codes;
The business must be a registered company with key focus in ICT and be based in Cape Town and surrounding areas.
In addition, applicants will need to supply copies of their company registration, company profile, and annual financial statements along with their BEE certificate and IDs with their applications. Applications close on Friday, 22 February and the selected candidates will be announced on 4 March 2019. “We had a fantastic experience on the Innovator Trust programme, perhaps most beneficial was the advice and mentorship on our financial management, up-skilling of our team, and establishing a 3-year budget and growth plan for the business. Our advice to entrepreneurs considering the course is 'just do it!' The skills and knowledge you gain are invaluable and put us on a serious growth trajectory.” states Jennifer Classen, Founder of Ngaphaya Y2K10, and Participant in the 2015 – 2018 Innovator Trust programme.
Disclaimer - The views expressed here are not necessarily those of the BEE CHAMBER