Incubation Support for Innovative Companies
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1 Incubation Support for Innovative Companies Ndwakhulu Mukhufhi GM: Incubation and Skills Development Multi-Platform Developer Workshop TIH, Pretoria 03 October
2 Presentation Layout Brief overview of the Innovation Hub The TIH Innovation spaces and support programmes The Maxum Business Incubator Precinct Companies
3 Introduction: Gauteng Province - R&D Context
4 The Innovation Hub Overview Striving to be the focal agency responsible for catalysing innovative solutions to the social and economic challenges of Gauteng GP Dept. Economic Development & Gauteng Growth & Development Agency subsidiary located in Knowledge Axis in Tshwane, Pretoria Science & Technology Park (IASP) Catalyst for socio economic development competitiveness of associated businesses & knowledge-based institutions Support growth across Sectors e.g. ICT, Green Economy, Biosciences, Industrials Skills Development and Entrepreneurship Value Addition to existing businesses Catalyse R&D Commercialisation Attractive spaces - emerging knowledge workers Enhance synergy within innovation eco-system
5 The Innovation Hub: Innovation Spaces + Innovation Support Programmes INNOVATION CENTRE (4 102 bulk m 2 ) Management company Incubation Restaurant Conference venue ENTERPRISE BUILDING (8096 bulk m 2 ) Multi-tenant building Meeting rooms
6 The Innovation Hub Skills Development and Entrepreneurship Programmes CoachLab: Skills Development and enabling Job Creation 9 month ICT Postgraduate Leadership Programme in collaboration with industry Bridging gap between academia and Industry Green and Biosciences programmes being developed Gauteng Innovation Competition: Fostering Service Delivery Platform to source local innovations to address government service delivery challenges. Prize money used as seed capital to grow enterprises from innovations. Procurement of innovations for government service delivery challenges Maxum: Technology and Business Incubation Support Technology Business Incubator to fast track the establishment and growth of early stage technology and knowledge based businesses Pre-incubation and business incubation Gauteng Accelerator Programme - Biosciences: Entrepreneurship Collaboration between Emory University, Atlanta, Georgia & The Innovation Hub, supported by Department of Science and Technology Biosciences skills and entrepreneurial development Supporting BioPark Program
7 The Innovation Hub Skills Development and Entrepreneurship Programmes mlab Southern Africa Climate Innovation Centre Access to Finance Technical and Business Advisory Policy Advisory Services Access to Facilities Enabling Ecosystem An initiative of the Gauteng Department of Economic Development, South Africa and infodev
8 The Innovation Hub Open Innovation Exchange Platform for Stimulating Innovation Connect solution providers and seekers from the region Improves connections between local companies, regional universities, Engage OI market to find solutions for challenges posed by regional innovation seekers Connecting Gauteng Innovation Eco-system Fast track innovation in region by finding global partners, markets, suppliers not available locally Providing a worldwide R&D platform that could be leveraged to leapfrog R&Dpoor regions Grow local economy with global deal making
9 Entrepreneurship Support Programme E n t r e p r e n e u r s Commercial isation Innovation Money Knowledge Research S C I E N T I S T S
10 Process Overview Problem Research Commercial Application Market
11 Valley of Death
12 Innovation and Commercialisation Idea
13 The Maxum Business Incubator (Bridging the valley of Death)
14 The Magical Triangle
15 Innovation What is desirable to users? INNOVATION What is What is possible with viable in the Technology? marketplace?
16 Maxum Overview A Technology Business Incubator whose aim is to fast track the establishment and growth of early stage technology based businesses. 9 Months 3 years 12 Months
17 Fact Sheet Sectors: TIH focus areas 84 Companies established since 2001 Member of SABTIA, NBIA Capacity 26 Pre-Incubation 40% graduation into incubation 10 companies annually
18 Criteria and Offerings Pre-Incubation Incubation Post Incubation Stage 1: Assessment & Screening Stage 2: Business Plan Development Stage 3: Assessment & Screening Stage 4: Business Growth/Development Stage 5: Assessment Assessment for : Technology fit with TIHMC clusters Entrepreneurial aptitude Business concept viability Training: Business coaching and mentoring Business registration assistance Entrepreneur training workshops Value Added Services Hot desking Phones Photocopier Meeting rooms IP Management Market Research Reports Assessment for: Technology fit with TIHMC clusters Viability of Business Plan Income generated IP Management strategy Potential to capture a niche market Training: Business coaching and mentoring Back office support Value Added Services Affordable office space with internet connection Assistance with access to funding Meeting rooms Access to TIHMC networks IP Management Market Research Reports Assessment for: TIHMC Cluster fit Business Operations Growth Potential Potential to capture a niche market Stage 6: Tenant Training 10 hours business coaching Value Added Services Assistance in Fund raising Participation in Maxum networking events Access to Maxum mentor networks Access to TIHMC IASP networks Gate 1: Acceptance Letter Entrepreneur Development Gate 2: Business Model Business Plan Gate 3: Lease Agreement Business Development Plan Gate 4: Profitability attained Increased customer base Gate 5: Lease Agreement/Virtual Post Incubation Agreement Gate 6: Business Growth
19 Offer Specific to Developers Hot Desking (R200/month) Subsidised rental in Incubation 10 hr Mentorship per Quarter (Experienced Entrepreneurs) Linkage to Universities & RI Free Broadband connectivity (SANREN) Linkage to mlab Linkage to Start-up support fund High Tech Environment in which to operate
20 The Value of Mentorship One of the key factors examinedin the Startup Genome Report s research was the role of mentors. Data from 650+ startups was analyzed, including 160 funded companies Fundraising across the four stages of development in their model was examined The role of mentors was one factor examined and the message is clear No mentors = no money raised when needed to scale
21 The Innovation Hub Precinct Companies ICT & Engineering Cluster
22 The Innovation Hub Precinct Companies Biosciences & Green Cluster Innovation Support & Consulting
23 THANK YOU Thank You
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