Sustainable Entrepreneurship Hub
The Hub aims to build and strengthen the nascent entrepreneurial ecosystem in Lesotho and to improve access to seed financing for startups and innovative SMEs (hereafter collectively referred to as "enterprises"). Further, the Hub aims to create a more inclusive entrepreneurial ecosystem, focusing on promoting women and youth entrepreneurship through development of entrepreneurial ideas, and creating an equitable playing field for all entrepreneurs.
Ecosystem Building Component
- Set up a SUSTAINABLE Entrepreneurship Hub at the heart of Maseru.
- Support at least 15 Enterprise Support Organisation (ESO).
- Finance World Class results driven 10 Incubation Cycles, designed by ESOs, to support 500 startups by providing business support services.
- Engage Diaspora in building new breed of entrepreneurs.
- Build stronger ties with the rest of the entrepreneurship ecosystems in the region and beyond.
Seed Financing Component
- Seed Fund: Incubation Programme at $7,000 per enterprise to 500 enterprises.
- To give $50,000 each for 50 startups that show traction after incubation.
- To setup Venture Capital Fund: To provide Investment funding for 50 enterprises on a matching grant.
Several programs and activities are planned to support entrepreneurs including incubation program, subsidizing operations, promoting knowledge sharing, supporting entrepreneurial initiatives, and accelerating companies that are ready for international expansion.
The Hub establishes partnerships with the entrepreneurship ecosystem stakeholders like Enterprise Support Organizations (ESOs), the local business community, the diaspora and investor network, to solicit skills to build new breed of entrepreneurs and to attract funding from across Lesotho and the SACU region.