Entrepreneurs are already signing up with non-profit and commercial organisation Enablis, ahead of the launch of its first operational hub in SA to provide ICT start-ups with funding and support. The hub will be launched as soon as banking arrangements have been finalised - probably by the end of next month. This has not deterred eager entrepreneurs, who are already approaching the group for accreditation.
The organisation invests in and supports SMEs that improve and broaden the technology skills base, create access to markets through technology and use ICT for social benefits.
Martin Feinstein, CEO of Enablis Southern Africa and outgoing director of the Proudly South African campaign, says Enablis will provide mentoring, support services and critical funding to start-ups and early-stage SMEs to help bridge the digital divide.
"The exciting thing about Enablis is that the focus is on business and personal coaching as much as it is on funding," says Feinstein.
"We will provide critical early-stage business financing, combined with intensive business guidance and support."
"Enablis will offer a unique approach to this space. Individual entrepreneurs will become accredited as members of the organisation and will then be eligible for intensive business coaching, IT support, business links with multinationals and critical funding", he adds.
Enablis is funded and supported by the Canadian Government and private sector founders Accenture, Hewlett-Packard and Telesystem - a multinational telecommunication company. The organisation has also established a working partnership with First National Bank and Khula Enterprise Finance.
The organisation has already secured a funding worth R90 million and aims to achieve an additional global funding of at least R200 million by 2006.
"The loan fund is currently being set up and has not been formally launched. This is expected to take place by the end of October," says Feinstein. Feinstein says "many" star-ups have enquired about the fund, and the first three have been accredited during the past week.
"Entrepreneurs accepted as members of the Enablis network will benefit in two ways. A loan guarantee funding, ranging from R100 000 to R2-million will be allocated to selected entrepreneurs who are using, or plan to use, ICT in their business in a way that helps them and others to access new markets, improve IT skills and create employment."
The criterion for getting the funding is through a highly selective application process. Enablis says it accredits entrepreneurs who demonstrate the passion, drive and commitment necessary for business success.
"Enablis is currently looking at early-stage businesses that are already running. From the second quarter of next year, we will also look at start-ups. At least 40% of the businesses funded by Enablis will be BEE businesses."
"We are currently accepting applications from entrepreneurs who can demonstrate their entrepreneurial talent and passion and who have innovative ICT enterprises, are using ICT or plan to use ICT to accelerate their business. The product doesn`t have to be new or locally manufactured but we will encourage local innovation and product design."
Entrepreneurs who would like to apply for membership of Enablis should contact martin@psanet.co.za or call Amiena on (021) 422 0510.
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