Standard Bank and Thinkroom have announced the launch of the Standard Bank Development Programme, an enterprise development initiative aimed at supporting 10 entrepreneurs as they grow and scale.
The programme focuses on practical, timely and comprehensive interventions, encompassing all stages of business growth and driving market and investment readiness.
In collaboration with Thinkroom, the Standard Bank Development Programme provides robust assessment and a clear development plan to ensure accountability and success for each participating business and founder. With Thinkroom South Africa’s extensive experience working with SMEs in enterprise and supplier development programmes, and the enterprise support of Standard Bank, selected startups will have a solid foundation to build upon their success.
“Enterprise and supplier development programmes in South Africa play a critical role in shaping our successful businesses of the future, those who will create the jobs and economic growth we need. We have learnt that working with corporates who share this vision makes implementing programmes like this so much easier. Standard Bank’s commitment to this programme is refreshing. It will dramatically impact the lives of 10 South African entrepreneurs who will have the opportunity to grow their businesses,” said Catherine Young, founder of Thinkroom.
To qualify for the programme, entrepreneurs must be majority black-owned, generate less than ZAR10 million (US$530,000) in revenue annually, and have time to commit to growing their businesses. A total of 10 companies will be chosen to join the programme, benefitting from a vibrant community of innovators, go-to-market readiness, access to customer opportunities, mentorship, potential funding opportunities and valuable industry connections.