South Africa: Accelerator programme empowers fintech startups to scale
The Sanlam Group ESD Accelerator Programme, established by small business development specialist Edge Growth in partnership with the Sanlam Foundation, is a strategic support platform designed to help early-stage fintech businesses scale effectively and access tangible market opportunities.
This 18-month programme offers qualifying entrepreneurs access to coaching, strategic support, and a rare opportunity to pitch directly to leading corporates, with participation at no financial cost and requiring only eight hours of commitment per month.
The programme includes hands-on workshops, high-impact master classes led by business growth experts, one-on-one coaching from seasoned tech entrepreneurs, and access to advisory boards for strategic guidance. Entrepreneurs will also benefit from market access, with a chance to test and pitch solutions and the possibility of qualifying for grant funding. With previous cohorts achieving over 40% average revenue growth, the programme is designed to deliver real, measurable impact.
Previous programme participants include brothers Sipho and Sifiso Mavuso, founders of Vuso Technology, a 100% black-owned ERP solutions provider, established in 2019 to address the shortage of black-owned ERP resellers in South Africa. Despite their accounting expertise and early certification in Sage systems, the company faced initial challenges with market access and brand visibility. Their turning point came in 2023 when they joined the Sanlam Group Enterprise and Supplier Development (ESD) programme. Through strategic mentorship, Vuso Technology improved its business model, enhanced its branding with a new logo and website, and received operational support, which included a R25,000 subsidy to purchase an inverter to be used during power outages. These changes led to improved efficiency and the company's successful securing of a major three-year private sector contract.
Moving forward, Vuso Technology is preparing to become Oracle-certified, and plans to double their team from five to ten employees and a broader commitment to skills development. Vuso Technology's success illustrates how a combination of targeted support and entrepreneurial determination can accelerate growth and position SMEs to lead in high-value, tech-driven sectors.
To be eligible to participate, businesses must be at least 51% black-owned, operate in the fintech sector, ideally be post-revenue with scalable solutions for the insurance industry, and be able to commit to the full 18-month programme.
All rights reserved. © 2022. Bizcommunity.com Provided by SyndiGate Media Inc. (Syndigate.info).
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