Schoolboy startup incubator gets backing of Sage Pastel, Standard Bank

This looks pretty cool. St Stithians Boys’ College, a top-end private school, has established a startup incubator programme for its pupils with the backing of accounting software company Sage Pastel and financial services giant Sanlam.

The 10-week for Grade 10 Business Studies learners that will reportedly them formally register and operate real businesses, from the creation of business plans through funding, staffing, marketing and trading.

The programme will be taught for four hours a week during class time. Technically, it forms part of the existing Business Studies curriculum but, because real companies are being created, it goes substantially beyond requirements. Learners will work in teams of three and will be guided through the entire process of starting and running a company by industry experts.

Ryan Wiesner, who is head of the college’s Business Studies Department, and came up with the idea for the programme, says its aim is to bring the real world into the classroom: “Increasingly, South Africans will have to create their own jobs and entrepreneurial skills are vital. Few teenagers have access to this kind of learning and I believe that it offers the most important life skill they will learn at school”.

According to Wisner, the teams will either adopt an existing business idea that requires assistance, or explore the feasibility of a business idea they themselves have come up with. “The choice will be entirely theirs and they will be assisted by Sage Pastel and Standard Bank as they get started, with more experts coming on board as required,” he says.

As part of its sponsorship, Sage Pastel is allowing full access to a suite of its business software. Sage founder and MD Steven Cohen said he understood the challenges faced by entrepreneurs. “Small business owners need as much support as possible. Basic business knowledge is not always part of an entrepreneur’s skill set and the Sage Pastel Business Incubator Programme will provide that insight and support. Teaching future entrepreneurs how to use these tools is the greatest gift we can give them.”

Clive Pintusewitz, Head of Small Enterprises at Standard Bank says he fully expects some viable businesses to emerge from the programme. “We are committed to the growth and success of the SME sector in South Africa, and we’re pleased to be involved in this initiative. The curriculum will expose our future entrepreneurs to practical lessons in starting and managing a business. The learners will be working with Standard Bank’s BizLaunch solution, which has been specifically designed to help entrepreneurs get their businesses started the right way.”

It’s tempting to be cynical about such a programme. After all, some might say, the learners involved in the programme already have access to the school’s top facilities and many come from wealthy families so why should big corporates get involved?

Here’s the thing though, if the St. Stihians’ model works it can be adapted and scaled for other schools around the country and that has to be good for entrepreneurship in South Africa.