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The Next Economy is an initiative of SOS Children’s Villages CV, Crosswise Works and Good Up and is being funded by the Dutch Ministry of Foreign Affairs.

The Next Economy Incubation Programme is focused on supporting aspiring entrepreneurs to move their business ideas into solid foundations that can expand and grow while also investing in entrepreneurs to become business leaders. These training focus on sustaining and growing businesses and seeks to make them profitable such that they are able to hire new employees and thereby create new jobs.

The Next Economy Incubation Programme provides business knowledge and business support through diverse strategies and structures including enterprise education, business advisory and consultation, access to investment funding and partnerships empowering aspiring entrepreneurs to attain business growth.

To qualify, participants must be between the ages of 18 – 35 years of age and have a minimum viable product.

Key benefits include:

  • Enterprise Training
  • Business Advisory Services
  • Access to Funding and Partnerships
  • Access to Mentorship Support

The Next Economy Incubation programme combines a mix of interactive enterprise training, advisory and business support services to enable each participant to fully develop their ideas from startups to growth stage.

Enterprise Training

  • Design Thinking
  • Market Strategy
  • Product/Service Development
  • Operations Management
  • Business Model Canvas
  • Business Plan Development
  • Budgeting, Financial Management and Financial Reporting
  • People Management
  • Raising Financing
  • Digital Marketing
  • Business Pitching

Stage I:

Interested applicants must complete the online form here. Applicants will be required to complete all the required fields.

 

 Stage II:

Following a review of all received applications and a further interview call (video or voice), 15 candidates will be shortlisted for the 3months Incubation Training.

Through the support of the Dutch Ministry of Foreign Affairs, SOS Children’s Villages CV, Crosswise Works and other the Next Economy Partners, the programme is FREE to entrepreneurs who are shortlisted and enrolled in the incubation programme. This scholarship support from the Dutch Ministry of Foreign Affairs covers all direct course fees including course materials, books and data support.

Who Can Apply?

To be eligible, you must be:

  • Between 18 – 35 years old
  • Computer Literate
  • Have Access to a Laptop or Digitally Enabled Device
  • Have already registered and launched a business
  • Must be able to participate all through the required programme duration

When Can I Apply?

Applications will be open from July 13, 2020 and will be closed on July 30, 2020.

How many entrepreneurs are you selecting?

15 entrepreneurs will be selected for the Incubation Programme.

Is there a Fee to Participate?

There is no Fee. The programme is free as all selected entrepreneurs will be on a Scholarship that has been provided for by the Dutch Ministry of Foreign Affairs.

How Do I Know if my Application Has Been Successful?

Only applicants shortlisted to the second stage will be contacted. If your application is successful, you will be contacted for the next stage of the application process.

Can I make changes to my application after I have submitted or do I do a Fresh Application Instead?

No. You cannot make changes after your application has been summited. Once you have submitted, it becomes final and you will not be able to edit the application. Also, multiple entries will be disqualified. So we encourage you to verify your application carefully before submitting it.

What is the time involvement expected for participants?

The Incubation Programme will run for a period of three (3) months and with an average of about 2 days involvement per week.

Can a member of my team replace me in the programme?

No. Only the business owner/founder/co-founder is allowed to participate in the programme

Where Should I Send any Enquiries?

Email nexteconomy@fatefoundation.org. Also follow @FATE Foundation on Facebook and Instagram to keep up to date.