steve reid
TRANSCRIPT
Centre for Entrepreneurship(CfE)
www.falsebaycollege.co.za
Steve Reid
1. Introduction
2. False Bay College/the CFE
3. The Rapid Incubator Model
Overview
www.falsebaycollege.co.za
1. Nationally: 1 of 50 TVET
2. Provincial: 1 of 6 in Western Cape
3. Only one in WC
a) Centre for Entrepreneurship - DSBD
b) Rapid Incubator – SEDA
Who are we?
www.falsebaycollege.co.za
Courses at False Bay College
Business studies (6)
Engineering studies (15)
Hospitality & Tourism (6)
Information Technology (4)
Education Studies (2)
Yacht & Boat Building Academy (1)
Security & Safety (1)
2D Animation(1)
Overview
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Unemployment & Poverty
NDP
Success Rate of SMME:
60-70% SMME’s fail within 1st year
96% of SMME’s fail over 10 years
Changing graduates from job seeking to job
creating
Why do we exist? –Our Purpose
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• Linking similar programmes to avoid duplication
• Enterprise skills centres
• Specialised Industrial Facilities
• Skills for the economy
• Mix manufacturing centres
• Link new incubators to IPAP sector priorities
• Clothing, Textiles, leathers and Footwear
• Automotive
• Metal Fabrication, Capital & Rail Transport Equipment
• Mineral Beneficiation (Up and Downstream)
• Agro- Processing
• Forestry, Timber, Paper, Pulp and Furniture
• Biofuels
• Plastics, Pharmaceuticals, Chemicals and Cosmetics
• Cultural and Creative Industries
Focus
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Pipeline
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Selection Contract Pre-incubation
IncubationLaunchPost-
incubation/Monitor
Inputs in each Phase out of 5
3 phases of Incubation
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Pre Incubation Post
Learning
•Core
• Specialist
Coaching
•One on one
•Group
Support
• Links to Finance
• Links to Markets
• Infrastructure
21
1 2
1 2
4
3
Origins in India but tailored to SA
18 months-Lean approachMajor components of the Incubation process
• Entrepreneur skill development
• Product/service selection
• Opportunity guidance
• Hands on practical training
• Facilitation of funding
• Facilitation of setting up a business
• Support services
How does the Rapid Model work?
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Lean approach
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Innovation Hub
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Innovation Hub
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• Have clear vision, mission and strategic goals.
• Meet the pre-conditions
• Fit the IBI in the national/regional strategy
• Secure public/private support
• Fit the IBI into the regional system for innovation (WC)
• What are the real needs of the entrepreneurial
community?
12 tips in setting up a Innovation Business Incubator
www.falsebaycollege.co.za
• Look for best practices-seek out or establish networks
• Don’t blindly replicate
• Make sure to get the best expertise
• Secure proper funding for the years to come (Don’t rely
solely on projects-seek out yearly allocated budgets)
• Monitor and benchmark performance constantly
• Engage in proper communication efforts
From “The Smart Guide to Innovation-Based Incubators”
12 tips in setting up a Innovation Business Incubator
www.falsebaycollege.co.za
• First contact sheet
• Business plan template
• Template for risk analysis
• Software for budget forecasting
• Contracts to regulate the service delivery
• Template for analyzing innovation weaknesses
• Tools for assessing the entrepreneurial capacities
• Databases of financial tools
• Databases of private consultants
• Databases of research and technology centres
Tools to ease the incubation process
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