Application Deadline: Friday 5 October at 15:00
The Startup Acceleration initiative is in the format of a Bootcamp to enable development through a series of short, intensive and rigorous modules and an investment in the successful Startup towards growth (resources, infrastructure and technology).
The Bootcamp consists of modules on various Business and Technology topics targeted at Startups. Once the Bootcamp is complete, a round of pitching for an investment of up to R500k in services takes place.
- To successfully obtain the highest investment amount, the Startup must demonstrate through an investment proposal and compelling pitch on how the R500k investment will yield tangible growth in their business
- The investment proposal must demonstrate a growth trajectory based on predictable financials, demonstrating increase in revenue and job creation
- The Startup must be able to convince the judging panel consisting of industry experts and IBM leadership, on the reasons why IBM should invest in the business
- The business is operational, a going concern and commercially sustainable and viable
- The business is a technology focused Startup – i.e. a small/medium sized business that takes a technology service/product (hardware or software) to the market
- The business is 51% black-owned* and managed
- The applicant is involved in the business’s daily operations and management on a full time basis, and is not employed by any other organisation or Organ of State
- The business is registered and headquartered, within the borders of South Africa
- The business is in the early/mid stages of growth (older than one year)
- The business cannot be currently participating on any other Enterprise Development programme at IBM or at any of its competitors
- The applicant must declare if they are a relative or direct associate of an IBM employee including the nature of the relationship
- Businesses that are a franchise or NPOs (Non-Profit Organisation) or NGOs (Non-Governmental Organisation) are not eligible to participate
- Participate fully in all activities related to the Bootcamp as advised above
- Maintain open and honest two-way communication (including any concerns and suggestions)
- Complete all tasks pertinent to the Bootcamp as mapped out in the section above
- Collaborate and share ideas, think big, help yourself and others to succeed!
- Attend a minimum of 80% of planned activities
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