Propella provides support to incubatees into the next phase of commercialisation after they have exited the formal incubation programme. The main offerings include:
It is well-known that most financial institutions and venture capitalists in South Africa do not provide funding for technology or early stage venture capital, as new ventures are seen as high risk. Venture capital funds normally invest only in the very best projects and invest amounts upward of R3 000 000. This is not an ideal situation for incubatees starting new ventures. Support being provided by Propella includes:
- Incubatees that have successfully completed their stay in the incubator and have the potential to develop a successful and sustainable business are assisted in applying to various funders for their funding needs.
- Partnerships with other venture capital funds (Engeli Section 12J VCC and others) and financial institutions are being pursued for additional start-up debt and equity funding
Propella helps incubatees by providing factory space and also access to advanced manufacturing and testing equipment. This is done through:
- Partnerships with other organisations to assist exiting start-ups by investing funds in such a business, provide factory space or assist with equipment and machines or technology transfer
- Raising funding for equipment
- Help incubatees raise workig capital
- Post Incubation Assistance
Propella may offer an opportunity for entrepreneurs that have graduated to continue benefiting from the services and partnerships that are available through the Incubator for an extended period of six months while they settle into their new location.
- Networking and Alumni Events
Propella will implement monthly networking events where entrepreneurs (both current incubatees and exited incubatees) could network and share experiences. Industry specialists will also be invited to deliver power-packed and topical presentations to the entrepreneurs. Entrepreneurs will also be provided a platform to market themselves and showcase their business offerings.
- Monitoring and Evaluation
Propella has implemented a system for the monitoring of entrepreneurs after graduation. This helps us to share success stories, and provides statistics on the development and growth of graduated entrepreneurs for benchmarking purposes.