Deloitte supports the launch of second Grindstone Accelerator programme
With support from Big Four accounting and advisory firm Deloitte, investment firm Knife Capital and Thinkroom Consulting are planning another round of their Grindstone Accelerator programme, this time in Johannesburg. The programme is designed to help small enterprises become market ready and lucrative.
The objective of the programme is to recognise small and medium businesses that are contributing to the development of an innovative business landscape in Gauteng, Johannesburg. Experts from the public and private sectors in South Africa are currently calling for innovation to help the country’s economy.
As a result, the Grindstone Accelerator programme is looking to incentivise innovative business models, by offering support to startups that display promising new ideas. Support is aimed at making these enterprises attractive enough to draw substantial investment in the long run.
The programme lasts for one year, and not only includes information sessions and substantial networking opportunities, but also enables growth by measuring progress over the year as well as identifying gaps in the business processes that must be addressed to obtain success.
In addition, firms receive individual focused feedback sessions, wherein their growth and sustainability models are assessed, and they are equipped with relevant skills with respect to their business models. The programme is jointly owned by Knife Capital and Thinkroom Consulting, while technical knowhow is provided by Deloitte. The SA SME Fund is also contributing to the programme.
Knife Capital is a growth equity investment fund based in Cape Town, which specialises in supporting innovative ventures. Thinkroom Consulting, meanwhile, is a management consultancy that specialises in helping small and medium enterprises with improving their growth trajectories.
Commenting on the programme, Andrea Bӧhmert, Co-Managing Partner at Knife Capital said, “With this being the first time that the programme is offered in Johannesburg after successfully running it in Cape Town for four cohorts, we really want to tap into the city’s entrepreneurial ecosystem and highlight success stories.”
“Deloitte has deep and intimate industry insights. We understand the challenges our clients face and more importantly, we know how to get to the root cause, not being distracted by the symptoms. For us to thrive in this highly competitive environment, we invest heavily in our people. Developing critical business leadership and operational competencies is critical, as is the dissemination and augmentation of industry insights. As an entrepreneur, getting access to this fast-paced, and high-performance learning environment, and the respective knowledge that comes with it is highly valuable,” added Valter Adão, Chief Digital and Innovation Officer at Deloitte Africa.
