Gqeberha - Incubators

Incubator

Propella

Propella is one of the first business hubs in South Africa to be fully geared for Business 4.0. Exciting new IT and advanced manufacturing businesses share the same building to encourage cooperation between innovators in both sectors. Support for the development of technologies for Smart Cities come through a partnership between Engeli Enterprise Development (EDD), a private sector business support company and Innovolve, the wholly owned commercialization company of Nelson Mandela University (NMU). Propella helps commercialize the research and development being conducted at the NMU, as well as other technology entrepreneurs who either approach Propella for support or who are identified by Propella. Prospective incubatees go through a rigorous selection process to qualify for access to the Propella and its support services. Once they are selected Propella facilitators assist with mentoring and the evaluation of business concepts. Our Vision To be the "Go To", High-Tech Incubator and Accelerator for innovators and ventures delivering Smart City Solutions and Industry 4.0 Technologies. Our mission To provide a significant entrepreneurial experience and presence in Nelson Mandela Bay where innovation and technology convergence is facilitated to create sustainable and profitable ventures, through exceptional management, leadership & infrastructure in specific sectors. Our goal To be the first choice for the commercialization of smart products and services in our targeted sectors. Values Innovation.Success.Fun 1. Pre-incubation support (Restricted to ICT) All successful businesses and innovations start with an idea. Propella helps to ignite the ideas to become actions through its pre-incubation support for innovators who have a concept with potential, but need guidance on the first steps to commercialisation. Propella doors are open to inventors or entrepreneurs who are in that all-important and delicate concept stage – the one where there is an idea but no plan. Propella's doors are open to inventors or entrepreneurs who are in that all-important and delicate concept stage – the one where there is an idea but no plan. - Desktop feasibility study of the proposed business idea - Market assessment, feasibility planning and business planning - Entrepreneurial assessment and feedback session - Counselling and pre-incubation business advice - Specific business start-up training to support the fledgling enterprise - Coaching to guide them through proof of concept and business model canvas Entrepreneurs will be ready for selection for the next phase if they have: - Completed the business model canvas 2. Incubation Services Propella measures its success by the number of companies which have been commercialized – in other words, they have left the building as sustainable businesses with both a product and a market. Of course, when pioneering new products, processes and businesses, not all incubatees make it to market. That failure is analyzed to ensure that the lessons learned contribute to the success of another new venture. By the way, we also celebrate failure, since it’s part of a successful journey. Look out for our FUN2FAIL events. Propella provides four types of support: - Technology and/or technology platform development - prototyping testing and preparation for scale - Business Support – Guidance to establish and run a business - Customer – Customer insights and access to markets within the growing Propella network - Entrepreneur - Working on growing entrepreneurial ability in order to grow the business. Business toolbox Engeli Enterprise Development, which manages Propella, has developed a range of entrepreneurial, business and technology tools for the various facets of the incubation/acceleration stages. These have been customized for Propella. Entrepreneurs accepted by Propella sign a development contract based on an assessment of the company using the diagnostic tools. The contract includes development milestones and commitments from the entrepreneur, as well as the anticipated date on which the enterprise will move into its own premises – making space for the next potentially disruptive new business. 3. Acceleration Once they have successfully proved they have a viable business concept during the incubation programme Propella is able to provide support to the owners and managers of companies ready to growth their business to the next level. The main offerings include: a. Funding Few financial institutions and venture capitalists in South Africa provide funding for new technology or early stage venture capital, as they are seen as high risk. Successful Propella incubatees who have established the potential to develop a successful and sustainable business are assisted in applying to various funders. Partnerships with other venture capital funds (Engeli Section 12J VCC and others) and financial institutions are among the options for start-up debt and equity funding. Some start-ups may also qualify for BBBEE enterprise development funding grants or loans. Propella also facilitates the creation of partnerships (like JV’s) with established companies. b. Extended tenure Space permitting, Propella may offer companies ready for commercialization the opportunity to continue making use of the Propella facilities and support structure.