RATIONALE OF THE SEDA RAPID INCUBATOR
The CFE provides technical support to the enrolled entrepreneurs through access to the Rapid Incubator
(RI). The Rapid Incubator consists of 2 workshops; Engineering and a Woodwork workshop. The workshops are equipped with machinery, tools and the production support needed to development and manufacture new offerings.
Each of the workshops are equipped to accommodate 10 people working simultaneously. While the Rapid
Incubator provides an environment for product development, entrepreneurs are responsible for their own product development consumables.
An exciting new development within the Innovation Hub and Rapid Incubator is the inclusion of commercially licensed Solid Works autocad design packages. This will enable those within the mini factories to unlock creative designs of their products. A Makerspace will also host a 3D printer and laser cutter to enable entrepreneurs to come up with minimum viable products. (MVP)
3 STAGGERED STAGES OF INCUBATION SUPPORT
Pre-incubation is the provision of services by an incubator that help an entrepreneur to transform ideas into a start-up and getting incubator ready.
Beneficiaries will be identified and selected for a maximum period of 24 months in an incubation programme. They will receive basic technical training and business development support for a period of 8 months with the express intention of establishing a manufacturing business. The learners are encouraged to form Cooperatives enterprises to pursue their business interests in specific manufacturing enterprises, whilst SEDA’s CPPP & Co-ops Unit will assist in Registration of co-ops and providing business development support.
Business Incubation is the provision of a variety of support services under controlled conditions, to create an environment favorable for developing and nurturing new businesses and accelerating the growth of existing businesses.
After completion of the 8 month technical training, clients and/or graduates will establish their enterprises and be placed within the incubator to conduct and commence business activity.
During this phase, intensive mentoring and business development support is offered, in addition to the critical support offerings in the following:
Linkages to Markets: The incubator will assist in securing markets on behalf of clients by identifying procurement opportunities; i.e. through the various government departments, industry, retail or chain stores, etc.
Linkages to Finance: The incubator will assist in linking entrepreneurs to the appropriate funding model.
Business & Infrastructure Support: Access to information, shared resources, equipment and machinery.
Technology Transfer and Quality: The SEDA Technology programme will further support enterprises through the provision of technology transfer and quality interventions, such as:
- Product Testing
- Systems Development, and
- Training Interventions
Specialist Training & Workshops: Specific training needs will be identified through the mentorship.
Post-incubation is the provision of support services by an incubator to an entrepreneur or business that has already graduated from the incubator. Such services will be provided on a consultancy basis and at market related rates.
Enterprises are closely monitored for their development. Those clients whom have successfully achieved growth and development milestones, with clear indications that the business is reasonably sustainable, may graduate from the incubator within the three year period and will exit. The incubator will continue to support graduated incubatees with ‘on demand’ business development support.
THE INNOVATION HUB & TECHNICAL SPACE
Find out if you qualify to particpate in the Rapid Incubator Project