Recently launched black business incubator Riversands Incubation Hub is seeking high potential entrepreneurs to join its on-campus acceleration programme.
The Riversands Incubation Hub, funded by Century Property Developments and The Jobs Fund, officially opened in March 2015. Since then, the Hub has received a steady stream of applications, and so far 14 of the top businesses have been approved for full incubation and over 50 businesses are on the Grow Your Business programme
To be eligible for the full incubation programme, businesses need to:
- Be 51% black-owned
- Be viable and operating with a potential for growth
- Be entrepreneurial and ability to execute on ideas
- Suit the Hub model and markets
- Satisfy the Hub’s ratio of cost and risk to benefit
- Create economic opportunity for the surrounding area.
Those small businesses selected for on-campus incubation will undergo a rigorous mentorship, support and training programme. They will also benefit from a professional address, office and manufacturing spaces with better rental terms.
“The Hub offers SMEs a powerful mix of mentorship, access to opportunity and world-class facilities. Those fortunate enough to be selected for it will make history. They’ll form part of the first intake of a project that is set to become the largest incubation project in Africa. We will have the scale to catalyse entrepreneurial activity and be a vital bridge between small business and corporate South Africa,” says Jenny Retief, CEO of Riversands Incubation.
At capacity, the hub will be home to 150 small businesses with auxiliary training and skills development programmes to develop black-owned businesses and aspirant entrepreneurs. “We are also actively looking for partner organisations. These organisations will benefit from the addition of an agile, dedicated supplier while gaining valuable BBBEE points,” adds Retief.
The Hub is located in the north of Johannesburg in the Fourways Midrand corridor, close to the residential areas of Dainfern, Steyn City and Diepsloot. The Hub was completed in the first phase of the 237 Hectare Riversands Commercial Park, where there are plans to construct 1,900,000m² of property in the development.