Vusi Thembekwayo, Entrepreneur and Venture Capitalist has selected South Africa’s #Top40 entrepreneurs who will undergo an 18 month mentorship programme.
The programme is hosted by MyGrowthFund (MGF), a company Thembekwayo launched to find and nurture high-growth entrepreneurs through funding, incubation and enterprise development platforms.
The #Top40 entrepreneurs were selected from almost 3 000 SMEs who applied for the opportunity, which will assist them scale-up and grow their businesses to meet their defined targets.
“The volume and quality of applications is a reflection that entrepreneurship is alive and thriving in South Africa. The final #Top40 list is a mix of small to medium businesses, turning over between ZAR1 million and ZAR39 million annually. The SMEs come from diverse sectors, including landscaping, medical, fashion, engineering, energy finance, education, ICT and construction,” says Thembekwayo.
Over the 18 month period, MGF will guide the implementation of systems in the #Top40 businesses that will ensure success. These include habits such as practical financial and cash flow scheduling; robust market access systems that are scalable and measurable; and people management, including rewards and motivation systems to ensure the entrepreneur maximises their single most important asset – their people.
MGF has devoted a minimum investment of R18 million to the mentorship and skills development of the 2017 #Top40 entrepreneurs.
“The class of 2017 #Top40 is an important pilot for MGF. We will glean much learning and no doubt fight many challenges, which I believe are vital in the continuation of this project, and MGF’s vision to build 300 sustainable businesses by 2030,” he concludes.
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