The Centre for Entrepreneurship Rapid Incubator (CFERI) is located at Westlake Campus of False Bay TVET College and will soon have an ignition Café at each of the six Campuses. The Centre follows a holistic approach and offers entrepreneurs tailored business support. The Centre follows the SEDA Rapid Incubator model and includes some practices from other incubators. The CFERI supports entrepreneurs through three phases:
Transform ideas into start-ups; six months of technical training and business development support for establishing manufacturing businesses.
2. Incubation phase
Are you interested in turning your idea/field of study into a business? The CFERI has two intakes a year, but expressions of interest may be submitted throughout the year.
A bespoke business coaching programme is available to select SMMEs to help scale existing businesses. This offering is structured to suit the availability, growth stage and key outcomes of the SMME.
The methodology followed in the CFERI consists of five independent, yet integrated elements, namely, Learning, Coaching and Mentoring, Links to Market and Finance, Personal Development and Technical Resources.
The False Bay TVET College Centre for Entrepreneurship Rapid Incubator model favours a holistic and innovative approach to empowering youth entrepreneurs to start, launch and build a resilient and innovative youth enterprise. The bespoke Entrepreneurship Venture Acceleration Programme model begins with an entrepreneurial mindset, the jockey and ends with value creation which will translate into lasting paying customers and sustainable business development, targeted and transformative learning applying on experiential and simulation approach.
Learning programme skills interventions
- Module 1: Business Opportunity & Strategy Analysis: Online GrowthWheel Onboarding & Coaching Basics
- Module 2: Building Lasting Customer Relations
- Module 3: Organisational Development
- Module 4: Profitable Operations
- Module 5: Business Plan
- Module 6: Art of Pitching & Close-Out Presentations
This programme offers SMMEs entrepreneurial skills through an incubation programme and the launch of small businesses in their related sectors. This phase will focus on the provision of business skills, e.g. how to run a profitable business; development of a business plan; industry business processes; negotiation skills; costing and pricing and how to market one’s business; bookkeeping; and personal development of the beneficiaries; and market research.
It will further provide participants with practical toolkits, as well as business models on how to start and launch a resilient and innovative business. Entrepreneurial workshops will create an environment where township businesses are exposed to industry-related learning content. The nature of the entrepreneurial workshops will be highly practical, with a concentration of participating start-up industry specialists gaining skills and information that can immediately be applied to help grow their business.
SMMEs get exposed to the international business learning platform GrowthWheel which allows entrepreneurs to evaluate their business operations and plans using a 360-degree assessment, 20 focus areas, worksheets, decision sheets and a coaching platform. The latter is deepened and supported by Business Model Canvas, Lean Canvas, and current entrepreneurial strategies. The learning programme helps SMMEs to validate assumptions and exposes them to networking opportunities, hero speakers, and industry specialist interaction.
Structured Individual Coaching and Mentoring
The CFERI offers ongoing monthly coaching to SMMEs for the duration of the programme. Coaching is offered in-house and helps entrepreneurs plan and track their growth and business development throughout the programme and mentoring is offered over a period of 12 months in partnership with Rotary International mentors. The CFERI follows a triple tracking mentoring model which zooms into three key focus areas which will either inhibit or constrain growth of their respective businesses.
There is a growing interest in the value of business mentoring and a commitment to build networks of experienced entrepreneurs to support the next generation. The Covid-19 pandemic has put tremendous strain on the survival of especially the SMME sector. Now, more than ever, SMMEs need practical mentoring assistance and advice to keep their doors open. This triple tracking mentoring model is an innovative, practical and proven business toolkit model for mentoring the small business sector for a period of 12 months.
Linkages to Market and Finance
Support through facilitating linkages to the market and financial resources, business administration and infrastructure, etc.
The CFERI over the six years has built partnerships with corporates and organisations that regularly support entrepreneurship through enterprise and supplier development programmes. This opens opportunities for entrepreneurs to be linked to the market and to seed funding.
Workshops are focused on growing resilient entrepreneurs. Statistics within the South African context regarding business failure point to 30% of the failure falling in the business model category, while 70% has to do with the entrepreneur themselves.
It is in this context that the CFERI offers personal development workshops and interventions to address:
- Growth in confidence
- Growth in personal skills such as time management, decision-making and self-leadership
- Unpacking practical ways to grow resilience
- Building a healthier self-image and stronger emotional intelligence
Our intent is to grow independence in the entrepreneur, rather than a dependent mindset.
The CFERI has the necessary infrastructure, facilities, equipment and tools that entrepreneurs can use to design and make their products or prototypes. This is also backed by product development and technical support and coaching. This facility helps businesses in the technical sectors and manufacturing fields to build attractive products and gain traction in their businesses.
Technology Resources consist of the following verticals:
- Furniture and Metal Fabrication Mini Factory: with tools, welding, milling and turning equipment.
- Maker’s Space: computers with engineering and general design software, 3D printing, laser cutting and vinyl cutting equipment.
- Coding Lab: consists of a 10-seater computer lab for the benefit of entrepreneurs in the ICT, digital, and design industries.
- Drone Accelerator Facility: fitted with high-performance 3D printers, milling and electronics for entrepreneurs who venture into the drone operation, maintenance and manufacturing space.