MENTORSHIP & BUSINESS INCUBATION
ENTERPRISE & SUPPLIER
Labit carefully selects applicants to attend a five-day competitive business workshop (The Labit Academy) where the entrepreneurs are trained and coached on the fundamental principles of starting and growing a business that can make an impact in their communities. During the Academy, entrepreneurs get the opportunity to rework their business plans and ultimately pitch their business model to a panel of seasoned entrepreneurs and industry experts. The five most promising entrepreneurs are then selected and receive the opportunity to join our Labit Lab - a one year program tailored to kick-start your business.
Entrepreneurs with high potential are selected from The Labit
Academy to join a 6-12 month program aimed at growing their capacity and building their businesses. The Lab includes a 12 Month mentoring and coaching program; Development of a Business- and Strategic plan; Life and social impact skills and a Seed Capital of R5000 per entrepreneur after the approved budget.
During the 12 months in the LAB, the entrepreneurs' business models are tested for scalability for them to be included in the Labit Business Incubator program.
We strive to equip entrepreneurs within these communities with tools to grow themselves and their businesses through various topics presented through-out the year. We have noticed the importance of not only developing business skills, but also the correct mindsets that enables the entrepreneurs to think creatively, to remain focussed, persevere, and to dream about the bigger impact that their business may have.
The Incubator is an intensive business program, shaped to provide entrepreneurs with advanced knowledge, skill and confidence
to take their business to the next level. This program is facilitated over 12 to 18 months and includes mentorship from skilled coaches, equipping entrepreneurs with practical tools and basic business principles to grow their business. Branding, marketing, strategizing, financial growth-planning etc. are only some of what is covered whilst being exposed to network opportunities and gaining access to possible start-up funding.
Graduates of the Incubator, now called Friends of Labit, enter an Accelerator phase. During this phase, a much more intense approach is followed. We now scale the business exponentially, implementing thorough business strategies, establish systems, and source financial investment.
We are very intentional to raise entrepreneurs as mentors and leaders while unlocking a renewed mindset during this proses so they can purposefully impact the world around them.
© 2014 Labit Consultancy (Pty) Ltd.