In an effort to develop sustainable entrepreneurial businesses in South Africa, the DTi launched the ISP (Incubator Support Programme) in late 2012, encouraging private sector partnerships with government to support incubators in order to develop micro and small businesses.
At the time of the launch, Trade and Industry Minister, Rob Davies, said: “This is one of the best platforms that a country can use to promote broader economic participation, uplift the country’s entrepreneurial base and encourage start-up activities.”
As a respected operation in the field of entrepreneurial development in SA, MEDO (the Micro Enterprise Development Organisation) has secured the first two incubators in the country.
MEDO CEO Judi Sandrock comments: “We plan to apply for more! We really want to accelerate micro and small business growth which I believe is absolutely essential to economic growth and job creation in this country. 80% of the Japanese economy was established on small start-ups – mom and pop shops – and with commitment and effort it could be the same for us here.”
The first two incubators will focus on the ICT and the Mining and Heavy Industries sectors, providing valuable training and support to businesses that can service and supply these industries.
The Incubation Support Programme aims to see businesses nurtured into sustainable enterprises that are graduated into the mainstream economy and that can provide employment and contribute to economic development. It is believed that the successful enterprises will have the potential to revitalise communities and strengthen local and national economies.
Davies said at the launch that the programme is envisaged to bring enterprises from a survivalist stage and informal economy into being the main players in the mainstream economy.
