After the development of the IPD programme FABlab Namibia discovered there existed a lack of funding mechanisms for entrepreneurs and start-ups in Namibia, thus in tandem with the IPD programme FABlab Namibia developed and is currently trademarking the ADDVenture business matchmaking event.
ADDVenture is a platform that was created to provide entrepreneurs access to business support facilities and new consumer markets. The platform caters for two types of entrepreneurs, SPARKS, these are start up entrepreneurs who have completed the IPD programme at FABlab Namibia in partnership with the Ministry of industrialisation Trade and SME Development, and have a functional prototype and a complete business, marketing and financial manufacturing plan.
CONNECTS are registered Team Namibia Members, established SME’s seeking oppurtunities for business growth and expansion.
THE WAY IT WORKS
The entrepreneurs each deliver a five minute presentation to the selected ADDVenturer panellists followed by a fifteen minute question and answer session with the panellists.
This allows the ADDVenturer to gain more insight into these businesses, with the intent to either partner, fund or support the venture.
TYPES OF SUPPORT OFFERED
1. Capital investment
2. Development aid / grant / funding
3. Support - equipment aid, incubation, premises, marketing and design
4. Advisory – training, mentorship, market access, networking platforms