Steve Reid

Centre for Entrepreneurship(CfE)

www.falsebaycollege.co.za

Steve Reid

1. Introduction

2. False Bay College/the CFE

3. The Rapid Incubator Model

Overview


http://www.google.co.za/url?sa=i&rct=j&q=&esrc=s&source=images&cd=&cad=rja&uact=8&ved=0ahUKEwim7pDKlZLLAhVKcBoKHaBqC-YQjRwIBw&url=http://www.thelogoshed.co.uk/about.html&bvm=bv.115277099,d.d2s&psig=AFQjCNEIJvPU8oMSQLra_bAnduW6GpKvEw&ust=1456463872756850


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?


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




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


• 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


Pipeline


Selection Contract Pre-incubation

IncubationLaunchPost-

incubation/Monitor

Inputs in each Phase out of 5

3 phases of Incubation


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?


Lean approach


Innovation Hub


Innovation Hub


• 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


• 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


• 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


Thank You


Steve ReidCFE [email protected]