Entrepreneurs with smart ideas benefiting the Gauteng economy will be able to tap into skills, networks and funding through a new initiative launched in Johannesburg yesterday.
"Generating a smart idea and turning it into a successful business is difficult in any society," says Kevin Fleischer, head of the new Blue Catalyst initiative. "But SA`s legacy of division and uneven skills training widens that gap for entrepreneurs here - it`s not just about insufficient access to capital."
Fleischer says the fund is a "soft" source of financial investment designed to reduce the risk for other investors by providing part of the funding to help it raise the balance from other sources.
Entrepreneurs will use the portal to post ideas for technology- or knowledge-intensive new businesses. The network will work to develop commercially viable ideas into local and international ventures, by providing skills, advice, credibility, market access and financial resources.
Jabu Moleketi, Gauteng MEC for finance, says Blue Catalyst forms part of the Gauteng Provincial Government`s Blue IQ strategic economic infrastructure programme to make Gauteng the 'smart province`.
"We want to increase the number of sustainable smart businesses in Gauteng by pulling private and institutional investors and advisors into the early part of the investment chain," Moleketi says.
Blue Catalyst lists 16 founding patrons who have committed to assisting Blue Catalyst and will in turn be exposed to a number of key opportunities and benefits, including direct exposure to Blue Catalyst deal flow.
Patrons include Armscor`s Technology Exploitation Centre, Adams and Adams, Bodibeng Technology Incubator, Business Beat, Deloitte, EgoliBio, Gauteng Shared Service Centre, The Innovation Hub, Leaders Unlimited, Monitor Company, The National Empowerment Fund, Proparco, SMB Connexion, Standard Bank, the University of Witwatersrand and Wits Enterprise.
Share