Technically speaking business incubators are programs designed to support the successful development of entrepreneurial companies through an array of business support tools and services, developed and orchestrated by incubator management and offered both in the incubator and through its network of contacts.
Basically, for the layman a business incubator is like a mother’s womb. It gives the baby (the business) all the good nutrients and love that it needs. But how practical is the concept of business incubators in Africa? How can the concept be applied to suit the needs of the average entrepreneur in Africa?
These companies are proving YES! It is completely possible. They are in fact leading the field globally in the way they are being used by businesses especially on the small scale business angle.
Enspire Incubators – Based in Nigeria it goes beyond than the ordinary incubation program. Enspire aims to assist businesses that have completed the initial stage of their development. Furthermore it lays heavy emphasis on the governance and ensuring that businesses in their incubation correctly follow the regulation processes and stay on the right track.
Wennovation – Started in 2010 in Lagos Nigeria, Wennovation’s main identifying factor is the fact that is offers a pre-business formation instruction and a range of mentorship programs that are aimed at grooming young entrepreneurs for the challenges that lay ahead. In addition the company seeks capital for real innovative business suffering from financial difficulties.
Tahrir2 – Personally what makes this incubator stand out for me is the fact that it is in Egypt. Being a difficult time for business in Egypt as whole, the company’s main objective is to provide a physical location for their clients, as well as assist with funding. The funding is one of its major selling points as entrepreneurs usually receive about $15 000 to help them reach their goals. I don’t know about you, but if I had a business idea but no capital I could really use $15,000.
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