Grindstone’s accelerator programme, has rolled out an initiative is tailored towards scaling up high-growth and innovative-driven SMEs across South Africa. The fund is run by Knife Capital, a venture capital fund mainly funded by the SA SME Fund but backed by the partners such as Deloitte Digital, Google for Startups, and Thinkroom.
Grindstone entrepreneurship development programme does not demand equity from participant teams. It however provides training and support that helps SMEs remain sustainable and receive funding. Starting back in 2014, there will be the 8th Cape Town cohort and 9th Johannesburg cohort of the programme.
To participate in the Grindstone Accelerator Programme one must:
- Be a South African citizen
- Be part of a dynamic team
- Should have revenues of at least R500k
- Posses a scalable model
- Display innovation as the prime equalizer
Startups that take part in the accelerator are business support services comprising elements of mentorship, corporate advisory, funding, training, mentorship, and coaching. Among the specific interventions tailored to the companies are go-to-market strategy, intellectual property assessment, and strategic financial valuation.