THE GROWTH CHALLENGE LAUNCH
MAHLATSE TOLAMO | NOVEMBER 11, 2019
The Gen Africa Growth Challenge will be launched on the 14th November 2019 at 22 On Sloane. This Growth Challenge aims to cultivate; resiliency, a thoughtful long-term approach; mirror market challenges; lastly to acknowledge and celebrate positive performance.
For a startup to succeed, various functions such as product development, pricing, technology, operations, customer service, marketing, finance and HR management must be cohesively performed. Execution of each of these elements has a direct impact on their performance and growth.
Our approach is to focus on the longevity of a startup together with building its capability to grow quickly. It’s no secret that growth matters for any company regardless of size or business stage. Because growth predicts long-term success, our Incubation and Acceleration programmes are tailored to be critical enablers of growth. We understand that in order to create a successful company, our startups must master the ability to transition from one growth stage to the next.
Every month programme participants are given a Financial, Operational, and or Marketing goal which is aligned to their Growth Map. The goal must be accompanied by a strategy and an action plan. Business performance is measured at the beginning as well as at the end of the month/quarter to assess whether the Startups as met the target. In order to win the challenge, the participants must either meet or exceed their goal, as well as outperform (percentage) other participating Startups.
We are excited to announce that one of our Fintech startups, Maxicash App, is amongst the 5 African countries to have been selected to pitch at the Migration Challenge Startup Competition in Ecuador. The International Organisation of Employers (IOE) and Seedstars competition is targeted at the most promising HR, Fintech, Civitech and EdTech startups with solution-orientated products to improve migration systems that respond to the labour market.
Under the auspices of South Korea’s Ministry of Foreign Affairs, I was invited to visit the East Asian country last week by the Korea-Africa foundation to discuss and engage on sustainable ways to build a stronger Korea-Africa relationship, which was established last year.
This past weekend, the annual Geekulcha hackathon (GKHack19) took place at 22 on Sloane startup campus. Led by Mixo Ngoveni, it focuses on boosting and sustaining a strong geek culture in South Africa.