DTI’S first youth entrepreneur incubator opened by MEDO

Opened by the DTI Minister- Dr Rob Davies – the MEDO ICT Incubator is the first youth incubator in the DTI Incubator Support Programme. Renowned entrepreneurial development organisation MEDO will manage and facilitate the centre, as well as provide support and training for participating entrepreneurs.

DTI launched the Incubator Support Programme (ISP) in 2012 in a move to provide support and grow sustainable entrepreneurial businesses in various industry sectors in South Africa. By promoting the incubators, the DTI has been encouraging private sector partnerships with Government to support the programme in an effort to develop effective businesses. In May this year, MEDO was awarded the first two incubators in the country and is now proud to announce the opening of the ICT industry’s very first sector entrepreneur incubator.

The MEDO ICT Incubator, based in the Maboneng District, will focus on supporting young entrepreneurs. The location was chosen to leverage high speed fibre (FTTH) bandwidth connectivity as the focus of the incubator is the Information and Communication Technology sector as well as an Internet TV studio that will facilitate internet TV broadcast. Boasting world class technology, teleconferencing facilities, a TV studio and a beautiful setting in the heart of Johannesburg’s rejuvenated city, the incubator will provide services at no cost to the businesses.

The facilities will assist up to 300 small- to medium-sized businesses,. There will be permanent incubation of approximately 20 ICT businesses and virtual incubation across industries allowing small businesses to use the facilities and benefit from the full suite of shared services. Introductions to supply chains of large industry and entrepreneurs looking to develop content for IP TV will also become beneficiaries to of this programme.

MEDO CEO Judi Sandrock said, ‘This is a very exciting time for smaller and medium-sized enterprise growth in South Africa and MEDO is very pleased to be working with the DTI on such an innovative development. The MEDO ICT Incubation Centre is a phenomenal step in building economic growth and job creation in the country.’

The DTI’s Incubation Support Programme will see the development of another incubator by MEDO in the coming months, which will focus on the Mining and Heavy Industries sectors. The programme aims to facilitate smaller business and entrepreneurial growth by developing platforms for highly beneficial training and support.

Adding value to the growth of business and entrepreneurship in South Africa, the opening of the first incubator in the DTI programme is a significant milestone in the effort to create and sustain jobs in South Africa.

In 2014 we will be opening 19 incubators across South Africa, starting with a Mining Industry Incubator in Middelburg. This incubator will be jointly sponsored by the DTI, BHP Billiton Coal and Hatch Goba. These 19 incubators will serve the mining, manufacturing, energy, ICT and hospitality industries.