Standard Bank and Thinkroom launch enterprise development programme
Standard Bank and Thinkroom have announced the launch of the Standard Bank Development Programme, an enterprise development initiative aimed at supporting ten entrepreneurs as they grow and scale over during 2023.
The programme focuses on practical, timely and comprehensive interventions, encompassing all stages of business growth and driving market and investment readiness.
In collaboration with Thinkroom, the Standard Bank Development Programme provides robust assessment and a clear development plan to ensure accountability and success for each participating business and founder. With Thinkroom South Africa’s extensive experience working with SMEs in Enterprise and Supplier Development programmes and the enterprise support of Standard Bank, selected start-ups will have a solid foundation to build upon their success.
”Enterprise and Supplier Development programmes in South Africa play a critical role in shaping our successful businesses of the future, those who will create the jobs and economic growth we need. We have learnt that working with corporates who share this vision makes implementing programmes like this so much easier. Standard Bank’s commitment to this programme is refreshing. It will dramatically impact the lives of ten South African entrepreneurs who will have the opportunity to grow their businesses,” Catherine Young, Founder of Thinkroom, commented.
Candidate selection criteria:
To qualify for the programme, entrepreneurs must be majority black-owned, generate less than R10 million in revenue annually and have time to commit to growing their businesses. A total of ten companies will be chosen to join the programme, benefitting from a vibrant community of innovators, Go-to-Market readiness, access to customer opportunities, mentorship, potential funding opportunities and valuable industry connections. The application link and requirements for the Enterprise Development programme can be found here: https://survey.alchemer.com/s3/7372539/ThinkroomApplication
Building capacity for SMEs
Thinkroom collaborates with big business corporations and development organisations alike to identify and unlock opportunities for SMEs across the African continent. In South Africa, they actively focus on finding innovative solutions to Enterprise and Supplier Development Programmes that have a meaningful impact in getting entrepreneurs’ supply-chain ready. “We are passionate about the development and success of South African entrepreneurs,” said Project Manager Lwareng Moruti.
“We hope to support inclusive growth and development of skills and business. Our dream is to see all Africans thrive and succeed.”
By partnering with micro, small, and medium enterprises, Standard Bank hopes to build a capacity ecosystem that will allow entrepreneurs to grow. According to Enterprise Development Manager, Nokhanyo Ntshingila, SMEs have a vital role to play in South Africa’s economic growth. “Our vision is to build a prosperous, sustainable, and inclusive economy in South Africa by empowering black-owned businesses in key sectors to achieve their potential. We hope to equip these businesses with the necessary tools, financial support, and networks to thrive, enhancing their competitiveness and sustainability. Ultimately, the objective of the Standard Bank Development programme is to provide business management and technical skills training to enable capacity building, scaling, and job creation for blackowned businesses.”
Interested start-ups that fit the eligibility criteria can apply here: https://survey.alchemer.com/s3/7372539/Thinkroom-Application
For more information, contact: support@thinkroom.co.za
About Standard Bank:
Standard Bank is the largest African bank by assets, with a unique footprint across 20 African countries. Standard Bank connects Africa to select emerging markets and pools of capital in developed markets, and their balanced portfolio of businesses provides significant opportunities for growth. Its Enterprise Development department supports and nurtures black-owned companies in alignment with the Broad-Based Black Economic Empowerment Act, providing funding, development, and access to markets across various industries. The Standard Bank Development Programme aims to achieve sustainability for the businesses they support while stimulating economic growth.
For further information, visit standardbank.com
About Thinkroom Consulting:
Thinkroom is an African ecosystem player, and SME capacity builder focused on providing market access to entrepreneurs through specific programmes and interventions. Thinkroom partners with large corporates and institutions (such as Standard Bank, Absa, The World Bank and Hitachi) to provide entrepreneur development programmes to over 20 countries. Thinkroom is a 50% partner in Grindstone, a structured entrepreneurship development programme and growth accelerator, and a 50% partner in Grindstone Ventures, a post-seed, pre-series A fund to facilitate start-up growth. Thinkroom has developed Thinkubate, an Incubator/Accelerator as a Platform (I/AaaP) that incorporates an LMS to offer business skills to entrepreneurs through learning courses, templates, quizzes, and more.
For further information, visit thinkroom.co