SEED CAPITAL & GRANTS SUPPORT
The Seed Capital & Grants Support component of the LBESST Programme is a funding initiative by EOCDF designed to provide financial assistance and resources to small but scalable startups, early-stage profitable businesses or sustainable projects that require initial capital to get off the ground. This initiative also aims to support innovative and promising ventures by offering them seed funding or grants, which are typically non-repayable funds, to help them overcome initial financial challenges and launch their endeavours successfully.
The purpose of this initiative is to stimulate entrepreneurship, innovation, and economic development in Obontser and its environs by giving aspiring young entrepreneurs and self-sustaining innovative projects the financial boost they need in their early stages when securing traditional funding might be more challenging due to higher risks associated with such ventures.
SCGS DETAILS
Financial Assistance
EOCDF offers seed capital or grants to cover expenses such as research and development, product prototyping, marketing, hiring initial staff, and other startup-related costs.
Training and Mentoring
EOCDF may choose to assist with mentorship, coaching, and training sessions to help beneficiary entrepreneurs refine their business strategies, improve their pitch, sales and marketing of their products/produce and develop necessary skills for managing a startup.
Networking Opportunities
EOCDF also often provide networking events, workshops, and access to a community of like-minded entrepreneurs, investors, and industry experts to help our beneficiaries.
Technical Assistance
Technical Assistance also provided by EOCDF may include guidance in creating business plans, market analysis, and strategies for growth and scalability.
Equity or Stake
EOCDF might require startups to provide a stake in the business or other forms of equity in exchange for the seed funding.
Monitoring and Reporting
All beneficiaries of the SCGS initiative are required to consistently provide weekly/monthly progress updates and reports to demonstrate how the funding is being applied and impact it's having on their businesses and projects’ development.