Impact Venture Incubation Programme

For founders building startups that have an impact

APPLY

10

COMPANIES PER PROGRAMME

2

PROGRAMMES PER YEAR

R300K

EQUIVALENT VALUE

INTRO

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.

FOCUS AREAS

START DATE

3 APRIL 2018

END DATE

30 JUNE 2018

DEADLINE

5 MARCH 2018

LOCATION

SOLUTION SPACE PHILIPPI

WHO SHOULD APPLY

Startups

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.

TEAM OF 2+

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.

PROTOTYPE / MVP

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.

OPPORTUNITY & TRACTION

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.

 

HOW IT WORKS

1) ONLINE APPLICATION

Startups submit applications online in February and June/July each year, before the initial start date of each Impact Venture Incubation Programme.

2) PRE-SELECTION DESIGN SPRINT

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.

3) PITCH TO A SELECTION PANEL

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.

4) FINAL SELECTION

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.

 

BENEFITS

FEEDBACK & GUIDANCE

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.

ENTREPRENEURSHIP SKILLS

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.

CO-WORKING & COMMUNITY

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.

ADVISORY SERVICES

Access to pro-bono partners and a network of consultants to support with specialist expertise e.g. legal, HR, digital user experience, venture capital.

 

FOR MORE INFO

Simnikiwe Xanga
Liaison, Solution Space Philippi

Email: simnikiwe.xanga@gsb.uct.ac.za
Tel: +27 (0)21 406 1606

 

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