Please note: As an enterprise you are not allowed to apply to more than one ESO
Entrepreneurship Hub and Seed Financing Facility
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.
The ESOs:
- Provide incubation services to selected enterprises in high potential sectors in line with the Second National Strategic Development Plan (NSDP II).
- Conduct needs assessments and provide technical assistance to the enterprises to develop and refine their business models, products, and services.
- Provide mentorship and coaching to the enterprises on various aspects of enterprise development, including marketing, operations, financial management, and business financing.
- Facilitate access to finance and investment opportunities for the enterprises by linking them with investors and other sources of financing.
- Organize training and capacity building sessions for the enterprises on topics relevant to their business, including technologies, environmental and social safeguards, and business planning.
- Facilitate networking opportunities for the enterprises to connect with potential customers, partners, and other ecosystem stakeholders.
- Develop and maintain a database of incubated enterprises, including their profiles, progress, and impact.
- Monitor and evaluate the progress and impact of the incubation program and prepare regular reports for the LEH&SFF.
- Collaborate with other ecosystem stakeholders to promote the growth and sustainability of enterprises in Lesotho.
SUMMARY OF DELIVERABLES
