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South Africa: SU Business Launchpad to Boost Entrepreneurship in SA |
| Source: |
SA - the Good News |
| Source Date: |
Friday, June 14, 2013 |
| Focus: |
ICT for MDGs
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| Country: |
South Africa |
| Created: |
Jun 14, 2013 |
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The accelerator will include Stellenbosch University (SU) spin-out companies (formed in conjunction with the University) as well as student-owned enterprises, which function independently of the University, but have access to the services in the business accelerator. In addition, the business accelerator will be open to external start-up companies who would like to benefit from the entrepreneurial services on offer, as well as internal or external service providers who are able to provide mentoring, support or guidance to the accelerator tenants.
The first tenants in the Business Launchpad include two start-ups from SU – Stellenbosch Wind Energy Technologies (SWET) and Praelexis, a software company based on machine learning technology, while established spin-out company Sun Media Stellenbosch, will function as a service provider within the accelerator.
“We are also particularly excited to welcome Orientis VC, a venture capital company that will provide mentoring to the other tenants in the accelerator,” says Anita Nel, CEO of InnovUS. “Through pure word of mouth, we have already received tremendous interest from both student ventures, as well as external entrepreneurs to become accelerator tenants. This shows that there is a significant need for entrepreneurial support in the region.”
The business accelerator will also offer a “hot desk” area for students with promising business ideas. “For a limited period, we’re offering this hot desk space free of charge – students will only be expected to cover their own expenses, such as telephone calls and internet usage. In the hot desk area students will benefit from the expertise of those providing mentorship in the accelerator, as well as the opportunity to network with other like-minded individuals,” says Nel.
The goal is for the accelerator to become the hub of entrepreneurial and innovational activities at Stellenbosch University. “I would like to invite local business people or academics to become involved with our entrepreneurs in a mentorship capacity. By fostering entrepreneurship on campus we are empowering our students to start their own businesses and create jobs, wealth and knowledge in the process. We really need the support of a strong network of mentors who want to contribute to the growth of entrepreneurship on our campus,” says Nel.
The business accelerator will also become the home of the InnovUS 50H (50 hours) internship programme. This programme is aimed at postgraduate students who would like to gain real life experience of a start-up company by assisting with financial modelling, market research and other activities. “This kind of experience is invaluable on your CV when you enter the job market,” adds Nel.
At present, the Business Launchpad is funded by the University, but the intention is to develop this interim accelerator into a fully fledged business accelerator, for which external funding is still required. The business accelerator still requires a name of its own, and funding will grant the sponsoring company partial naming rights and significant exposure.
“Universities have a responsibility to commercialise the products and services flowing out of their research so that they are available to industry and the public. As a research-based university, Stellenbosch University has an important responsibility in this regard to ensure that entrepreneurs receive the support they need to function as part of the innovation chain,” says Professor Leopoldt van Huyssteen, Executive Director: Operations and Finance at SU. “I believe the Business Launchpad is the beginning of a wave of entrepreneurial activity on campus. Entrepreneurship is vital to economic growth and job creation in South Africa and Stellenbosch University is committed to contributing in this regard.”
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South Africa: SU Business Launchpad to Boost Entrepreneurship in SA Student entrepreneurs and aspiring business ventures will soon have a home in the heart in Stellenbosch A whole floor of Stellenbosch University’s Admin Building in the centre of the campus is currently being fitted out to welcome a next generation of innovators freethinkers and entrepreneurs The Business Launchpad is an initiative of InnovUS the University’s technology transfer company The Business Launchpad as it is currently known offers tenants excellent infrastructure and network services as well as guidance from academic staff and leaders in the business world to help them launch their business ideas Aptly described as a business accelerator the Launchpad aims to boost entrepreneurship on campus by providing networking opportunities mentoring and affordable rental rates in an entrepreneur-friendly environment
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