Deadline: 24th May 2023.
Standard Bank Plc Malawi Phuka Incubator Program 2023
Standard Bank Plc in partnership with CAT and Synergy Labs is calling on all SMEs in Agribusiness that want to learn how to commercialize their enterprise to apply for the Phuka incubation program. This is an online, self-paced program that runs for a period of 6 weeks. The program is aimed at de-risking and turning businesses into bankable ventures that will unlock capital for their sustainable growth.
Phuka Incubator program a training program that aims to strengthen the capacity of SMEs with high growth potential, to make them more competitive and sustainable in the long term. Applications for Agribusiness cohort are now open.
Benefits
- Masterclasses – Facilitated by experts in business training and soft-skills development
- Business Clinics – Access to business coaching and advisory support from seasoned entrepreneurs and business leaders
- Infrastructure – Access to a flexible co-working space and meeting rooms with high-speed internet
- Social Capital – Access to like-minded communities, networks and strategic partnerships
- New Market Linkage – Access to a trade portal and market fairs hat can provide links to new markets
- Certification – Issuance of a certificate of attendance, upon completion of the programme
- Investment-readiness – Upon qualification, will have access to loans at a preferential rate
Eligibility
- Must be aged between 20 and 45 years
- Must be a Malawian citizen with a National ID
- Must be a for-profit venture and legally registered with the Malawi Registrar
- Must have an already existing business for at least one to five (1-5) years with a clearly defined market and verifiable customer base
- Must have a business that has evidence of a monthly recurring revenue of MwK1.5million per month
- Have the ability to create a credible investable plan with projected future performance and underlying assumptions
- Must have a scalable business model targeting increased local market acquisition or entry into export markets
- Must have resources and willingness to attend an online rapid business incubation programme, with English as the main language
- Must be willing to travel to Lilongwe for the closing ceremony
How to Apply
- Application must done through the online application form as provided by Standard Bank
- Submission must include the following information from applying organization:
- Business registration details
- Business Profile- which specifies what the business is about, how long they have been in operation, revenues generated, number of employees and what their growth ambitions are
- A brief summary of your business.
- Must be ready to prepare a 3 to 4 minutes pitch for your venture during the pre-screening phase
