the entrepreneurs we champion
Riversands Incubation Hub is a great place for committed entrepreneurs who want to rapidly grow their businesses within a dynamic entrepreneurial community with abundant opportunities for new contacts, collaboration and ongoing personal development.
We don’t believe in ‘one-size fits all’ approach and this is not the right place for every type of business. We receive a large volume of applications and our units are quickly filled. This means that we are always evaluating businesses against our published selection criteria. We are not a commercial landlord – we do our best to invest our subsidised square metres in businesses likely to give the best return on investment.
The returns we look for:
1. Business growth and sustainability
2. Innovations that solve problems and add value to the economy
We do measure jobs and other earning opportunities created by business on our campus. Strong sustainable and growing businesses do create new jobs and earning opportunities. However, we never put any pressure on business owners to hire staff before they are ready to do so.
our selection criteria
at least 51% black-owned and run
We believe that supporting black-owned businesses provides the best chance for South African economic growth. Involvement should be more than silent partnership and business owners should be actively involved in the daily running of the business.
viability with potential to grow
There is enough demand for what the business offers and indications that the business model is sound. The business has a path to economic viability, as well as a defined value proposition. This doesn’t mean that you need to have ‘all the pieces of the puzzle’ together – we understand that you and your business are on a journey.
Entrepreneurial characteristics and ability to execute
The business is backed by an entrepreneur with a track record of ‘getting things done’. While this is subjective, there are a number of characteristics that have proven to be valuable for any entrepreneur. For example, the ability to move from talk to action, adaptability to what your target market is telling you, or the ability or handle negative feedback or the grit to keep going when things are tough.
fit to hub
We aim to support businesses that will gain the most from being based at Riversands. These businesses are able to leverage off the services that the Hub has to offer. We want to work with entrepreneurs who are open to receiving guidance. We are not a good location for all types of businesses: we are NOT a good fit for businesses that need high volumes of foot traffic to survive. You may have a great business but may not be ideally suited to be based at Riversands.
Potential for surrounding area
Riversands was founded with the vision of boosting local economic growth and serving a bigger community outside the confines of our facility. This means that we also evaluate applications on the business’s potential to add value in the local economy and create new work opportunities. We don’t put any pressure on entrepreneurs to hire before they are ready.
Ratio of benefit to cost and risk
Like any investor we are looking for the highest returns on our investment of support and of subsidized square metres – we measure returns on the social good and economic value unlocked. The better the entrepreneur understands the market they are serving, has experience in producing the product or service and understands how to do that profitably, the lower the risk.