The Standard Bank Development Programme, an enterprise development initiative aimed at assisting 10 entrepreneurs as they expand and grow, has been officially announced by Standard Bank and Thinkroom.
The program’s main emphasis is on timely, thorough, and useful interventions that cover all phases of business development and promote market and investment readiness.
The Standard Bank Development Programme, in partnership with Thinkroom, offers thorough evaluation and a precise development plan to guarantee accountability and success for each participating business and founder. Selected startups will have a strong foundation to build upon their success thanks to Standard Bank’s business support, and Thinkroom South Africa’s extensive experience working with SMEs in enterprise and supplier development programmes.
“Enterprise and supplier development programmes in South Africa play a critical role in shaping our successful businesses of the future, those who will create the jobs and economic growth we need. We have learned that working with corporates who share this vision makes implementing programmes like this so much easier. Standard Bank’s commitment to this programme is refreshing. It will dramatically impact the lives of 10 South African entrepreneurs who will have the opportunity to grow their businesses,” said Catherine Young, founder of Thinkroom.
Entrepreneurs must be majority-owned by people of color, make less than ZAR10 million (US $530,000) in annual revenue, and have the time to devote to expanding their companies in order to be eligible for the program. A total of 10 businesses will be selected to participate in the program, which offers participants access to customers, mentorship, potential funding opportunities, and a vibrant community of innovators.