Global Business Labs project empowers teams to foster innovation and entrepreneurship
Global Business Labs (GBL) is a programme that targets high potential ventures with business focused teams, putting them through an intensive period of eight months training in business management. The end goal of the project is to have teams are put through this in order to ensure that stakeholders are empowered to manage labs designed to foster and support the scaleability and growth of local innovation initiatives.
The programme has set up labs in Botswana and Namibia and is currently working to embed the programme within the local environment (for example, academia) so that the skills and knowledge transfer can continue to local partners. The programme has also begun making inroads into expanding to Mozambique and Zambia.
An international ‘recipe’ for local success
The programme is a recipe for success as it stems from an initiative from the Stockholm School of Economics, with the goal to accelerate entrepreneurship.
In Botswana, GBL continued with its awareness efforts, and has between January and June this year, managed to reach up to 2,457 participants. This is half of its annual target. The team averaged at 54 activities per month which are centred around building awareness about the programme’s activities with students, alumni and the general public, establishing working relationships with other stakeholders, as well as presentations to lecturers and onsite marketing at the university. GBL Botswana has also taken part in activities such as the Ideas Expo, the University of Botswana’s MBA Alumni Association and Business Incubation Landscape Training.
In Botswana there are currently three companies that are currently being ‘accelerated’ in the lab These are Prestige Med, List It, and Vivanto Africa. GBL Botswana resides in physical space that has been provided by the University of Botswana. This increases the potential for the generation and sharing of new business ideas, as the university provides entrepreneurship education and has established entrepreneurial clubs which GBL Botswana could select candidates.