South Africa’s newly opened Riversands Incubation Hub has released a call for applications for its business accelerator programme, with the programme open to black-owned businesses only.
The Johannesburg-based Riversands accelerator will run for three years, with participants to undergo a rigorous mentorship, support and training programme, the organisers said. Participants will also benefit from office and manufacturing space “with better rental terms”.
The programme is tailored to the needs of each individual business, and each startup is assigned an industry mentor to help them throughout the programme.
The accelerator is open to black-owned businesses only, with startups expected to meet the requirement of 51 per cent black-ownership.
“The Hub offers SMEs a powerful mix of mentorship, access to opportunity and world-class facilities. Those fortunate enough to be selected for it will make history. They’ll form part of the first intake of a project that is set to become the largest incubation project in Africa,” said Jenny Retief, chief executive officer (CEO) of Riversands Incubation Hub.
“We will have the scale to catalyse entrepreneurial activity and be a vital bridge between small business and corporate South Africa.”
150 startups will be selected for the accelerator. Applications are currently open until September 15, 2015. However, applications are considered on an ongoing basis, and the application window will close once 150 startups are selected.
Launched in March 2015, the Hub forms part of the Riversands Commercial Park, and is located to the north of Johannesburg.