Four young scientists, accompanied by Eskom Expo’s Business Manager, Mmamoloko Rancia Riba, won their place to represent the country at the Indonesia competition, renowned…
New online platform aims to boost success rates for entrepreneurs
A new online learning platform called Thinkubate has launched with the ambitious goal of slashing high business failure rates amongst entrepreneurs and small and medium enterprises (SMEs). The platform is spearheaded by Catherine Young, founder of business consultancy Thinkroom, who has spent over a decade honing strategies to nurture entrepreneurial capacity.
Thinkubate operates as an incubator and accelerator, providing practical business education tailored to entrepreneurs’ needs. Its sophisticated learning management system has already empowered 2,500 business owners across Africa and the Middle East.
The platform aims to address common issues faced by founders, including lack of business acumen, access to skilled talent and quality mentorship. Thinkubate’s courses cover topics like strategy, company culture, technology, marketing and finance. There is also a focus on the entrepreneurial mindset and how a founder’s identity influences their business.
The faculty consists of seasoned professionals and executives from top global companies who offer real-world insights. “Entrepreneurs want accessible, customised and pragmatic learning that delivers better outcomes,” said Ms. Young. “Connecting them to experts who have built successful companies themselves makes a tangible difference.”
Indeed, an estimated 90% of startups fail within the first year. Thinkubate’s assessments aim to identify capability gaps amongst entrepreneurs and provide targeted interventions to set them up for sustainable success.
Over seven years of research has informed Thinkubate’s programme design. Previous entrepreneurial capacity building initiatives run by Thinkroom on behalf of large organisations have demonstrated promising results.
The platform also teaches critical soft skills related to areas like negotiation, financial mastery and self-care. “Our dream is to help crush business failure rates by giving founders exactly what they need to thrive, including resilient mindsets,” Ms. Young explained.
With entrepreneurship key for emerging economy growth, Thinkubate aims to nurture a steady pipeline of thriving founders through its emphasis on relevant education and nurturing ecosystems. Early data suggests this formula is working.
Foundations and big organisations who are actively building entrepreneurial capacity are urged to connect with Thinkroom at bit.ly/ThinkubateConnect to find out more about Thinkubate’s entrepreneurial programmes and success rates.
