Senegalese incubator CTIC Dakar has reached the halfway point of its BuntuTEKI programme, which looks to help entrepreneurs build the foundations of their businesses and prepare for full incubation at the hub.
Nine incubatees were taken into the pre-incubation programme on September 1, selected from approximately 40 applications by a CTIC selection committee, with entrepreneurs chosen on the quality of their idea, their potential markets, entrepreneurial profile and business model.
CTIC Dakar project manager Abdoul Aziz told Disrupt Africa the incubator thought the selected businesses not yet mature enough for incubation and investment, but aimed to change this through the BuntuTEKI programme.
“After six months, they should ideally be ready to be incubated by CTIC. Every week, we offer them a training session on a particular subject and we also meet them individually at least once every other week to monitor progress and recommend a course of action,” he said.
CTIC Dakar catalyst Yann Le Beux said at the half-programme point two startups had already failed and another two would likely fall out of the process in the coming weeks, though he remained optimistic of the outcome.
“By the end in January, I am sure we will have at least two great startups to present to investors,” he said.
Aziz was also confident of the latest batch of BuntuTEKI startups – this is the fourth cohort CTIC has pre-incubated – being a success down the line.
“I’m very happy not only with the individuals we have chosen for this programme but also with their ideas and the dedication they have shown towards achieving their goals,” he said. “They are good company and very professional in their approach. I am confident they’ll come up with great solutions and that we are at the base of great things with them.”
Aside from the BuntuTEKI programmes, CTIC Dakar also runs an ongoing incubation programme, which currently involves 20 startups. It is also currently involved in an accelerator programme specific to agriculture, with seed funding totalling US$150,000 given to eight companies, and an ICT for Governance accelerator – OpenSocieTIC.