The SME fund’s Local Scale-up programme looks to expedite the local and international growth of successful South African entrepreneurs running high-impact businesses that are primarily tech-driven and built in a manner that can quickly scale and outperform their peers, drive revenue growth and create jobs.
LSU is led by Endeavor South Africa and runs a model that aspires to scale high-growth businesses locally while preparing them for the international stage. Endeavor works in 38 markets and boasts over 2000 entrepreneurs and 5000 mentors in its global network.
During the launch of the Endeavor and the SA SME Fund local scale-up programme, Adrian Gore, the CEO of Discovery and Chair of SA SME Fund pointed out that successful entrepreneurs do not need a thriving economy or political stability to succeed.
The period between 2017 to 2020 saw 28 companies in Endeavor SA’s portfolio will give an average revenue of R200 million, a weighted average revenue growth of 24% annually increasing employment by 16% annually. Previous companies that have gone through LSU are Snode, Voyc, and StructureIT.
SA SME Fund is actively involved in the creation of an innovative and entrepreneurial local ecosystem that helps scale high-growth entrepreneurs. This is achieved through its investments in the University Technology Fund, Knife Capital, and 4Di which supports highly scalable and established businesses.