The programme will grant SMEs access to necessary funding, networks, market opportunities and skills to help them become commercially successful.
Blue Pencil helps small to medium-sized enterprises channel development, as well as investment and acceleration services. This, in conjunction with Blue Label’s access to funding and infrastructure, will help boost participating businesses’ growth.
“Many small businesses struggle to take off and thrive after the incubation phase – by increasing their chances of success and through the right interventions we can help them to have a positive impact in the SMME economy,” said the owner of Blue Pencil, Tallies Taljaard, in a press release.
“While there is a strong focus on incubation, there are not enough structures in place to accelerate the growth of high potential organisations. We will seek out businesses that are built on innovation and disruption and support them with Blue Label Telecoms’ frameworks, experience, and infrastructure,” added CEO of Blue Label Telecoms, Mark Levy.
Blue Label in conjunction with Blue Pencil has launched a business accelerator to help small to medium-sized business become a success
The programme will concentrate on businesses who are maturing from their incubation phase and will grant them access to finance, IT, HR, product development, marketing, and other necessary functions.
Blue Label may also provide funding for equity or help the participating businesses secure external funding or investors.
There are 10 companies currently under evaluation by Blue Label and Blue Pencil for the programme, with the aim of having them on board during the first quarter of 2017.
According to Blue Label, the first phase of the programme will last for three years.
“This is not going to be a simple and quick intervention; we are in it for the long haul,” said Taljaard. “Blue Pencil has done a lot of work with incubators in the past, so we have engaged with some of them to identify entities for our accelerator shortlist.”
“Although there is a social responsibility aspect to this project, our aims are largely commercial,” said Levy. “We help to establish a foundation for these businesses, assist with the acceleration of their initial growth and ultimately, invest in them, either directly or via a third party.”