Venture capitalist Vusi Thembekwayo’s #Top40 mentorship programme has extended its application deadline in response to huge interest expressed by entrepreneurs.
The #Top40 is part of MyGrowthFund (MGF), an initiative launched by Thembekwayo to discover and nurture high-growth black entrepreneurs through funding, incubation, and enterprise development platforms.
The #Top40 programme, which opened for applications on 15th May, has to date received 1,100 applications ahead of its initial deadline of 31st May midday. The mentorship programme is open to entrepreneurs generating R1 million in annual revenue and looking to grow. The selected 40 businesses will undergo an 18-month mentorship programme with Thembekwayo and a professional team specializing in finance, marketing, HR, and IT.
Exciting Potential
“We have had to extend the deadline due to an overwhelming response from entrepreneurs. What this has shown us is the high quality of entrepreneurs in South Africa who are doing well but need mentorship to get them to the next level,” says Thembekwayo.
He said most entrepreneurs fail to get to the next growth phase of their business after a year in operation. “We want to help these businesses that have hit the ceiling, scale up and progress to the next level,” he said. This process, when done on a large scale, will have a meaningful impact on job creation in the country, he adds.
Thembekwayo said part of the requirement for the mentorship programme was audited financial statements. Strict performance targets would be set for the businesses to maximize value and output for the entrepreneur.
Applications can be made on the MGF website: http://www.mygrowthfund.co.za/top40. Applications now close on 7th June 2017 at 12:00.
