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New scale up programme offers local entrepreneurs international exposure
The SA SME Fund is partnering with entrepreneur incubator Endeavor SA to boost the growth of successful entrepreneurs both locally and internationally.
This will stimulate the South African economy and jobs market said fund chair Adrian Gore (Discovery CEO) at the launch of the Local Scale Up (LSU) programme on Thursday,
"Smart entrepreneurs know that cycles come and go, and that the best time to invest and build is when times are tough. When others are distracted and ambivalent, opportunities are underpriced."
The LSU programme is aimed at "high-impact" entrepreneurs.
Bruce Whitfield finds out more from Lisa Klein, board member of the SA SME Fund.
We want to accelerate their growth both locally and globally.
Lisa Klein, Board member - SA SME Fund
Part of the fund's mandate is to stimulate entrepreneurship and we've done so primarily through fund-to fund and investing over R1.2 billion in a variety of funds.
Lisa Klein, Board member - SA SME Fund
But one of the key parts of our mandate is also developing a broader entrepreneurial ecosystem and the LSU programme is part of that mandate and it's very exciting!
Lisa Klein, Board member - SA SME Fund
How do you know if you qualify as a "high-impact" entrepreneur?
These are individuals who have a great track record, generally in high-tech or tech-enabled businesses says Klein.
Endeavour is a global organisation and provides entrepreneurs with "a leg up" in raising capital, in selling and in mentorship.
An organisation like this curates introductions. It almost re-creates serendipity - where you bumped into someone in a coffee shop and it led to an amazing partnership.
Lisa Klein, Board member - SA SME Fund
It helps scale these already successful businesses into global, international businesses.
Lisa Klein, Board member - SA SME Fund
She cites local tech whizz Melvyn Lubega (Go1) as an example of an Endeavour entrepreneur.
RELATED: Go1.com offers end-to-end training for staffers across fields, across the world
Through his Endeavour journey he was introduced to a variety of different networks; he had a lot of mentors...
Lisa Klein, Board member - SA SME Fund
Read more about Endeavor's model here and listen to the interview with Klein below:
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