ICT ENTREPRENEUR FUND ENABLIS BROADENS NETWORK

Mergers, Acquisitions and Financial Results

Another 16 South African entrepreneurs have been inducted by Enablis, a Canadian government-funded organisation. The induction of 16 new members brings to 33 the total number of South African technology entrepreneurs who are receiving business support from Enablis.Martin Feinstein, CEO of Enablis, says this figure will grow to 120 by the end of this year.

The project offers entrepreneurs a programme of services ranging from sales workshops to business coaching, and Enablis will spend R10 million over the next three years to provide these services.“We also offer qualifying entrepreneurs a 90% loan guarantee of up to R2.5 million,” says Feinstein.

The business ideas don't have to be ICT-based but must use ICT technology innovatively. “60% are mainstream ICT businesses while 40% use ICT elements,” adds Feinstein.

An example of such a venture is a new audio global positioning system that is placed on a car's dashboard to give motorists interesting facts about the areas they are driving though.

http://www.itweb.co.za/sections/business/2005/0502071025.asp?O=TE