The Impact Venture Incubation Programme (IVIP) is designed to provide a supportive ecosystem to help startups build viable and scalable innovation-driven companies for local community needs. Startups have access to a range of resources including co-working space, practical learning clinics, mentors, weekly check-ins and staff advisors, and a community of peers who learn and grow together.
The IVIP offers startups several key advantages. We're located in the heart of a local community, where startups are surrounded by a network of partner organisations and other new ventures, students and community members.
We are looking for startups that are either building a sustainable Africa through solutions for Education & Skills, Health & Wellbeing, Cities & Infrastructure, Agriculture & Environment, Financial Services, Employment & Enterprise, Recreation & Leisure and Mobility & Communication.
For our current program at the Solution Space Philippi we are looking for startups that are developing solutions that have an impact in the local community.
We're not looking for single founders, but teams of at least two with the right balance of skills and ability to build, test and deliver. The founder or majority shareholder must be the lead participant and must have the ability to commit full-time to the programme over the three months.
Most of our startups enter with some sort of business case, early version of a product / service and a couple of team members. They have a working prototype with a minimum feature set ready to test this with their first customers to further establish whether there is a market.
The initial concept development demonstrates deep and intimate understanding of the problem and market need or opportunity. The idea must have progressed beyond concept and should demonstrate evidence of early market testing, customers, revenues, patents or intellectual property filings.
Startups submit applications online in February and June/July each year, before the initial start date of each Impact Venture Incubation Programme.
The Solution Space team reviews the applications and the top 30 startups are selected to participate in a five-day design sprint to assess the fundamentals of the business and the team.
At the end of the five-day design sprint, successful startups pitch to a final selection panel of corporate partners, early-stage investors, mentors and entrepreneurs.
The top 10-15 startups are selected to participate in the three-month Impact Venture Incubation Programme and accelerate the development of their solution. Startups receive mentorship and training in addition to all the services offered by the Solution Space.
Startups receive valuable feedback and guidance from our Entrepreneur-in-Residence and network of experienced mentors and industry partners. Each startup is paired with a mentor for the programme and have access to the Solution Space's network of GSB alumni and corporate partners.
We apply a learning-by-doing approach. At workshops and clinics, startups learn founder fundamentals and core skills focused on moving the business forward. Startups apply what they learn through practical outcomes from each session.
We focus on building a vibrant community of entrepreneurs and offer a calendar of regular events designed to increase a startup's knowledge and expand their network. We prioritize peer learning and mentoring through access to our co-working space and regular office-hours.
Access to pro-bono partners and a network of consultants to support with specialist expertise e.g. legal, HR, digital user experience, venture capital.
Tel: +27 (0)21 406 1606