Develop a Maritime Enterprise Development (ED) Business Incubation Strategy and Implementation Plan for the South African International Maritime Institute (SAIMI)
Penny Grow has established itself as the go-to source for breaking technology services in wholesale and retail banking, capital markets, and insurance.
Project Name: PMU Establishment for uMfolozi TVET College
Project Description: Development of a Maritime Enterprise Development Business Incubation Strategy and implementation plan so that a system of business incubation can be established to address the gaps identified in the Oceans Economy value chain study for participation of SMMEs in the sector.
Project description – Establishment of a Project Management Unit within the uMfolozi TVET College environment that is responsible for the implementation of all Artisan development projects, Occupational programmes, Learnerships and Skills programmes respectively. The scope included conducting a project maturity assessment of the project’s unit, designing new Business and Operating Models for the PMU, a Financial Model, and an Organisational Structure.
Key deliverables: The scope of the study included the review and analysis of existing documents and sources, including those dealing with incubation for the Oceans Economy abroad, the undertaking of a consultation process with key stakeholders, and development of the Maritime Enterprise Business Incubation Strategy and Implementation Plan from these sources.
Outcomes: A detailed stakeholder consultative report that includes a Maritime Enterprise Development Business Incubation Strategy and Implementation Plan. Identified critical success factors for maritime incubators, such as mentorship networks, collaborative environments, and scalable programme structures.
Impact: Provided a framework for advancing innovation and economic competitiveness in the South African maritime sector. The Strategy is used to establish an Incubation programme for the Maritime sector. This will create access to many small businesses in the country to access the sector and create more employment opportunities among others.
