Blue Label, Blue Pencil join forces for business accelerator programme
JSE-listed Blue Label has teamed up with channel development, investment and business acceleration services firm Blue Pencil Management Architects to launch a new accelerator programme aimed at transitioning incubated start-ups into more mature operations.
The companies will provide high-potential South African businesses with access to the funding, market opportunities, channels and skills development, as well as the infrastructure cutting across finance, information technology, human resources, marketing, product development and other business functions needed to take successfully take steps to the next level.
“While there is a strong focus on incubation, there are not enough structures in place to accelerate the growth of high-potential organisations. We will seek out businesses that are built on innovation and disruption and support them with Blue Label Telecoms’ frameworks, experience and infrastructure,” Blue Label CEO Mark Levy said in a statement on Tuesday.
Blue Label indicated the potential provision of growth capital funding in exchange for an equity stake, or assistance in securing potential external funders.
“Many small businesses struggle to take off and thrive after the incubation phase – by increasing their chances of success and through the right interventions we can help them to have a positive impact in the small, medium-sized and microenterprise economy,” added Blue Pencil owner Tallies Taljaard.
Evaluations are currently under way for the selection of about ten companies to be absorbed into the programme in the first quarter of 2017. The duration of the first phase of the programme is expected to be three years.
The initial stages aim to “test the depth” of the intervention that will be required to accelerate the chosen companies and to consolidate best practices.
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