The Start Up Support Programme is an accelerated mentorship programme taking innovators from conceptualisation to a market ready stage. The 12 month programme includes providing business and technical skills to innovators, facilitating prototype funding for participants, and linking innovators with angel investors. The programme is hosted by Innovate Durban and funded by the Technology Innovation Agency (TIA). There are 15 innovators taking part in the programme in 2021.
Lumec is responsible for training and mentoring innovators in business development. This includes:
- Lean Canvas: Workshop the 9 steps of a lean canvas.
- Market Viability: Explain what it means to identify catchment areas, identify what the function of demand is, analyse market trends, and build a demand model. Present the most useful survey techniques and statistical resources (primary and secondary research).
- Financial Model: Explain what a financial model looks like, how to research competitor pricing and ascertain business costs. Use a template to conduct high-level costing, calculate potential revenue, and identify the business break even point.
- Business Plan Development: How to develop a logical, succinct document, including practical plans for starting your business e.g. company structure and team, route to market, marketing plan, and timeframes.
- Pitching/Investor Readiness: Information and assistance with the development of funding applications for public sector seed funding / feasibility study funding, and pitch documents for private sector investors.
If you are interested in hosting similar training for startups, please contact us.